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New Mortgage Help

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  • 05-03-2015 12:39pm
    #1
    osullyd
    Registered Users Posts: 1 ✭


    Hi,

    Just looking for some advise, am looking around for a property at the moment and spotted one for sale 195k which I am interested in.

    Question is am applying for mortgage on my own have a deposit of 75k made up of savings, redundancy and trust fund. would be looking for mortgage for 130k perhaps

    will still have savings of 50k

    My gross earnings are 40k per year full time employment.
    who would you recommend to contact re mortgage who have the best rates at the moment.
    I dont have any loans at the moment.

    Thanks


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    #2
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    You should qualify for a mortgage of 130k on your earnings of 40k per annum however this would depend on your age, martial status, if you have dependents and if you have any short term borrowings.

    Under new Central Bank Regulations you can borrow up to 3.5 times your gross salary = 140k in your case. Lender will look for proof of affordability, you will need to show that you have been saving approx. €760 or/and paying rent per month for past 6 months.

    KBC are offering the best rates at the moment if you open a current account with them.



    Trish


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