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Mortgage Advice

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  • 08-04-2013 5:21pm
    #1
    duffman13
    Registered Users Posts: 8,952 ✭✭✭


    I hope this is the right place for this question. I have just returned from working and travelling with my gf. We have managed to save up about 6k. I am starting a full time job with a salary of 27k and she is looking good for a full time position of around 19k. We are currently living with her parents paying a rent of 850 a month between us. I was very fortunate to inherit a house worth about €140,000.

    While I was travelling, I have had this house rented and receive €800 a month for it. We are looking to move into a new house as soon as possible with houses around our area going for around 210k. With work and the rent, between me and my gf we will be able to save around 2,500 a month till we work up our 8% deposit. Is 8% the standard deposit and will the bank be willing to lend to us if we are only in full time employment for about 4 or months when we apply. I am also wondering is there a way of using my current property (without selling) to help get mortgage approval.

    I will approach the bank soon but I am wondering is it a little to early to approach them with these questions.


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