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Repayment capacity/mortgage!

ekoeko · 2013-05-19 14:34:40

Hi, could anyone help me with experience. We are looking at house 200 000. Have 20 000 for deposit. Paying rent 750 p/m last 5 years Savings 1000 p/m last year and half Have money for legal fees etc. Excellent credit history( 3 loans previously paid off before the time) 2 kids Joint income 47k Is there any chance to be…

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19-05-2013 3:34pm

#1

ekoeko

Registered Users Posts: 5 ✭

Join Date: May 2013

Posts: 3

Hi,
could anyone help me with experience.
We are looking at house 200 000.
Have 20 000 for deposit.
Paying rent 750 p/m last 5 years
Savings 1000 p/m last year and half
Have money for legal fees etc.
Excellent credit history( 3 loans previously paid off before the time)
2 kids
Joint income 47k
Is there any chance to be approved for 180 000 mortgage?

I know wages are not that high, but we can prove that we pay 750 rent and save 1000 a month. Will that play big role when it comes to decision?

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#2 20-05-2013 7:16am
The_Conductor

Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭

Join Date: May 2002

Posts: 30620

Its possible- you'll need to shop around and organise to visit KBC and the other lenders. Technically you are outside the rules governing multiples of earnings- however you're pretty borderline, so I'd ask around. If you can find an independent mortgage broker- it might be worth your while having him/her do the legwork for you.

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