Advice on how to increase mortgage value

Atomic Pineapple

I had an initial chat with a representative of my bank recently and I was focussed on getting some mortgage advice.

Key points to my situation are as follows:

• Have a site in my girlfriends name
• Have a record of 6 months + paying €1,150 in rent
• Savings account where I save €100 a month
• Lump sum savings of €10,000
• No outstanding loans
• Excellent credit history
• Only one income, my girlfriend is not working at the minute

From this info I can get a mortgage of €100,000 to build a house on the site with my girlfriend or if I was on my own I could get €180,000 to buy a house.

The key thing being my girlfriend has no income and this seems to be detrimental to our mortgage application. Realistically we would need at least €150,000 of a mortgage and for everything we want in a house we would need €200,000.

So I'm just looking for advice on what we can do to improve the amount we can get. My girlfriend is currently in college and won't be finished for another 3 years. We would like to at least have the build in motion before this so her getting a job that would make a difference is not feasible. Is there anything else we can look into to help show we would be comfortable paying back a larger mortgage?

Trish56

You need to provide more information such as your ages and your occupation and salary.

Atomic Pineapple wrote: »

I had an initial chat with a representative of my bank recently and I was focussed on getting some mortgage advice.

Key points to my situation are as follows:

• Have a site in my girlfriends name
• Have a record of 6 months + paying €1,150 in rent
• Savings account where I save €100 a month
• Lump sum savings of €10,000
• No outstanding loans
• Excellent credit history
• Only one income, my girlfriend is not working at the minute

From this info I can get a mortgage of €100,000 to build a house on the site with my girlfriend or if I was on my own I could get €180,000 to buy a house.

The key thing being my girlfriend has no income and this seems to be detrimental to our mortgage application. Realistically we would need at least €150,000 of a mortgage and for everything we want in a house we would need €200,000.

So I'm just looking for advice on what we can do to improve the amount we can get. My girlfriend is currently in college and won't be finished for another 3 years. We would like to at least have the build in motion before this so her getting a job that would make a difference is not feasible. Is there anything else we can look into to help show we would be comfortable paying back a larger mortgage?

Henry Ford III

I reckon keep saving hard as hard as you can. Overborrowing is a very dangerous thing.