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Mortgage Advice ?

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  • 24-04-2012 5:58pm
    #1
    Dannyboy1987
    Closed Accounts Posts: 202 ✭✭


    Hi guy's just looking for help regarding getting a mortgage with my partner.

    Here is a quick idea of our situation employment wise.

    we are both in our early 20's

    I am in a full-time permanent job which is semi state and salary is €25,000 a year

    My partner is on a flexi contract but is permanent and is earning Between €10,000-15000 a year.

    we have no kids.

    We would be looking for a mortgage between €100,000-150,000 over a 35 year period.

    Any help would be great, willing to consider all different options that are out there. Thanks in advance
    Tagged:


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    #2
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    At a very quick glance and based on the limited information provided, I'd say keep your expectations at €140,000 or below.

    At that level, you'd need to have savings of €14,000 which you have accumulated most of yourselves and no existing loans.

    Lender would also need to see evidence that between rent and regular monthly savings, you're putting away at least €800 per month, visible in your bank statements.

    Hope this helps.


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    #3
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    Dannyboy1987 wrote: »
    My partner is on a flexi contract but is permanent and is earning Between €10,000-15000 a year.

    What does that mean exactly? Could be an issue.


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    #4
    Dannyboy1987
    Closed Accounts Posts: 202 ✭✭Dannyboy1987


    Liam D Ferguson wrote: »
    Dannyboy1987 wrote: »
    My partner is on a flexi contract but is permanent and is earning Between €10,000-15000 a year.

    What does that mean exactly? Could be an issue.

    She has a minimum of 15 hours per week and a max of 39


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    #5
    Liam D Ferguson
    Registered Users Posts: 542 ✭✭✭Liam D Ferguson


    Dannyboy1987 wrote: »
    She has a minimum of 15 hours per week and a max of 39

    Okay then a mortgage application would most likely be based on an assumption of 15 hours per week if this is all that's guaranteed and permanent.


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    #6
    Dannyboy1987
    Closed Accounts Posts: 202 ✭✭Dannyboy1987


    Liam D Ferguson wrote: »
    Okay then a mortgage application would most likely be based on an assumption of 15 hours per week if this is all that's guaranteed and permanent.

    Thanks Liam for the help


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    #7
    Dannyboy1987
    Closed Accounts Posts: 202 ✭✭Dannyboy1987


    Just an update i was in with my bank yesterday and we got some what approved, Just have to get rid of a few small personal loans and get my savings up in the next 6months :D


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    #8
    Marco85
    Registered Users Posts: 357 ✭✭Marco85


    Dannyboy1987 wrote: »
    Just an update i was in with my bank yesterday and we got some what approved, Just have to get rid of a few small personal loans and get my savings up in the next 6months :D
    I am in similar situation to u dannyboy regarding jobs and incomes. Looking to buy at some stage this year,how much were the bank willing to lend you? Pm if you wish.


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    #9
    Dannyboy1987
    Closed Accounts Posts: 202 ✭✭Dannyboy1987


    Marco85 wrote: »
    I am in similar situation to u dannyboy regarding jobs and incomes. Looking to buy at some stage this year,how much were the bank willing to lend you? Pm if you wish.

    PM sent


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