NE Mortgage, looking to move

hairyslug

I'll try and give as much details as possible but wondering if it's anyway possible to get a NE mortgage this size. Hopefully someone has been through this process already.

At the moment we are in negative equity (rough estimate) to the tune of 90k, my wife reckons 90, I think it's closer to 110.

The house we are looking at is 190k, we have 60k in savings, with a combined net income of 58k. We reckon we can sell ours for somewhere between 80k and 100k and have a savings record of 2k a month)

Our bank (we have a meeting with them to see what they can do) advertise that they will offer upto 200% LTV, which we come in easily below but our main concern is what will be offered with our income.

Are we punching above our weight with this one.

castle2012

hairyslug wrote: »

I'll try and give as much details as possible but wondering if it's anyway possible to get a NE mortgage this size. Hopefully someone has been through this process already.

At the moment we are in negative equity (rough estimate) to the tune of 90k, my wife reckons 90, I think it's closer to 110.

The house we are looking at is 190k, we have 60k in savings, with a combined net income of 58k. We reckon we can sell ours for somewhere between 80k and 100k and have a savings record of 2k a month)

Our bank (we have a meeting with them to see what they can do) advertise that they will offer upto 200% LTV, which we come in easily below but our main concern is what will be offered with our income.

Are we punching above our weight with this one.

Had no problem myself getting a ne mortgage. My bank was ub . But the max they said they would give is 3.5 times our income . The girl said it was a strict guideline from the central bank which they applied to all mortgage s including ne mortgage s

hairyslug

castle2012 wrote: »

Had no problem myself getting a ne mortgage. My bank was ub . But the max they said they would give is 3.5 times our income . The girl said it was a strict guideline from the central bank which they applied to all mortgage s including ne mortgage s

Cheers, so was the NE carried over to the new mortgage part of the 3.5 x income

hairyslug

Forgot to ask, was the 3.5 gross or net income

castle2012

hairyslug wrote: »

Cheers, so was the NE carried over to the new mortgage part of the 3.5 x income

Hi yes its 3.5 times gross which helps . But the 3.5 includes the ne