Mortgage application and calculation criteria

Turkish1

I will be applying for a mortgage in the next 6-8 weeks and just want to have an idea at the range I will be looking at.

Specifically if people know:
3.5 LTI ratio:
My OH is a nurse - does anyone know how they treat the additional income over basic salary - i.e. Unsociable hours (nights), weekends etc - I am not talking about overtime here. Is all/some of it excluded even though it is essentially guaranteed income due to the nature of the work? I would think a % is excluded but not the full amount.

Income available to service mortgage:
1. Is €1,000 per adult the amount taken from net income - (figure from memory of reading somewhere).
2. How much per child (have none currently but want to plan for having one in the near future) - from memory I have an amount of €250 per child in my head. I would expect it could/should be higher but have that figure in my head for some reason.

Stress test: Is 2% above the current standard variable rates still the approximate range used for stress testing an application for repayment capacity - using 6.5% in my own calculations currently.

Savings: We are FTB - have 20% saved for deposit. There were some unexpected expenses recently and I had to take money out of saving 2 of the last 6 months (approx. €500 each time) while still keeping above a certain amount saved each month. For example: saving €1,500 per month on top of rent but took €500 out twice.

Will it just be a case that they will say that my savings are €1,000 per month or will it be a red flag/black mark on an application?

I (with my green tinted glasses on) don't foresee us having a problem getting a mortgage or servicing it over the long term but just want to make sure we tick all the boxes prior to applying so that I can temper the OH expectations.

Michael D Not Higgins

http://www.mortgages.ie/go/first_time_buyers/information_for_first_time_buyers/autumn-2009-lending-criteria-update

According to the above it can be 1300 for a single adult or 2100 for a couple, and 250 per child.

maverick_21

If you have a high combined salary but are both in permanent jobs (probation passed) for just under a year is this a red flag when it comes to approval?