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Savings for Mortgage Help

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  • 25-11-2016 1:42pm
    #1
    lbyrne121
    Registered Users Posts: 206 ✭✭


    Hi,

    we found a house therefore we want to go for a mortgage and apply for the start of January.

    I recently got engaged in Oct and we closed our savings account and withdrew 6000 euro and then transferred the remaining balance into a new savings account in Nov... Therefore we took a break in the Month of Oct for savings while transferring the money across i.e. we didn't show any direct debit transaction of saving. we took this money out of our savings to pay for deposit for hotel for wedding and bands etc..

    We have shown regular savings of 3,125 per calendar month over the last 2 years and currently have 70K in savings (all of which is ours and not gifted by anyone).

    My question is will this impact us now going for a mortgage as we withdrew money from our savings and also took a one month break before we set up our new savings accounts?

    Any advice would be greatly appreciated


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