If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

How much of a savings record required for mortgage approval?

lfcgirl · 2012-01-22 22:49:31

My husband and I are in the process of applying for a mortgage at the moment. We had thought we wouldn't have a chance of approval as my job is not permanent. However, as we're not looking for a lot more than my husband would be approved for alone, I was told that if I could prove regular employment and earnings and…

22-01-2012 11:49pm

#1

lfcgirl

Registered Users Posts: 11 ✭

Join Date: February 2011

Posts: 6

My husband and I are in the process of applying for a mortgage at the moment. We had thought we wouldn't have a chance of approval as my job is not permanent. However, as we're not looking for a lot more than my husband would be approved for alone, I was told that if I could prove regular employment and earnings and provide comfort letters that a portion of my earnings might be considered.

A bigger problem though is that although we have a deposit of €50,000 (we would be looking for about €150,000) we don't have a solid record of saving - we have been paying rent regularly - our mortgage payment will be less than the rent. How long do you think we would need to have regular savings for to please the bank?

0