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Mortgage application, what should i aim for

  • 03-05-2016 12:00pm
    #1
    tomgaa
    Registered Users Posts: 192 ✭✭


    Hi,

    I am trying to work out how much i should borrow so i am not over stretching myself.

    I would love to buy a house around kilmacanoge or grey stones.

    But my logic to do all that is as follows

    House Purchased at 340 - 375k
    Have savings of 70k
    me and my girlfriend to have combined salary of 90-100k

    I realize that at some point we will have kids so that will mean her salary will fall or she wont be making as much which will affect the income coming into the house.

    I am looking for advice for a situation where i buy a house between 340-375k, what would i need in place regards savings and salarys to make sure that the amount we borrow is as little as possible and do not over stretch ourselfs. currently between rent and savings per month i am putting away €1100, she finds it hard to save at the minute as she is only on 34k and her rent is €630 per month, but within the next 18months she will be on 50K.

    Any advice is much appreciated.

    Regards


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