Supports for single people looking for a mortgage?

Supports sounds ridiculous - but I do feel that you should be allowed to borrow more than 3.5 times your income. As long as you can prove you have been saving or paying rent.

I will say one thing I have seen myself is a lot of the ones moaning all have the top tier iphone and paying circa €60 a month, are nearly in new Nikes every 2nd month and spending the guts of 100 every week or 2 on clothes, car on the guts of 100 PCP a week and then expect a summer holiday plus numerous city breaks in the year

I'm only 33 and can't get over the amount of ones my age that have fallen back into Celtic tiger habits despite seeing what trouble it eventually brings

Even couples that have managed to get a house are maxing out credit cards for trips to Dubai etc and then 2 months later off skiing it beggars belief

Currently saving for a mortgage and I've just decided to kind of give up rather than stress over it. By kind of giving up I'm mean not stressing over the mortgage savings account.

It's gone into the phase where too many investors see Ireland as a dead cert. People won't be able to compete with that.

15% year on year increase soon to be 20%

However I will add I do know there are a lot of cases of people on decent wage that would be able to afford a mortgage compared to rent or the area their from for example Dublin is gone crazy just talking on some of what I've seen

No problems having a phone but does it need to be the latest in technology. Alot of the 20 and 30 something's that I know have 3 hols per year + several weekend breaks. They are wasting so much money that could be used to save for a house. Would 1 holiday per year not be enough?

90k a year here, which isn't even enough.

34, have a 2008 car, live in Dublin cc renting, zero finance outstanding, pay as go phone, no family to rely on to help me with accomodation to save. No travel

My jobs here, my relationship is here, paying 2k a month in rent it's **** tough to get the few bob together and when I'm losing a huge amount of it on tax I get **** all from even tougher. I out earn the missus 4/1. Her job is here aswell.

Its the rent trap that's the killer and recent electricity hikes even worse.

There's a smell of stop eating avocado and toast off this thread. What is lost on people is, people should be able to live their lives aswell. New mobile phones lol, would you ever **** off with that crap.

Ireland is absolutely fucked from a housing perspective, fucked. It's gone far worse in the past year so people need to empathize with the challenges of today.

That's 4660 a month take home for you and your missus should be taking home most of her salary too so you've defo got over 6k a month. Take your 2k rent and a very generous 1k for essentials like bills, groceries, car running costs and you still have 3k to spend and save. You're spending it on something if not saving.

And with a deposit of 10% you'll get a mortgage of 385k putting you well into the 400s for a house price

Don't come on here saying 110k isn't enough, because it is, and at 34 you didn't just start earning 90k all of a sudden you would have earned well for years.

That's what I was thinking too. Like 90k is €1,099 a week and he says his OH is on about 1/4 that so we'll say €22,5k which €388 a week. That's €5,948 a month between them and €3,948 after rent

Combined income by 3.5 is €393,750! Ok maybe won't get a place in D4 and no offense to you NL but Jesus Christ!

The only thing I can think of is they might be plowing a lot into pensions or be paying for a lot of medication or something.

Edit: lily you should look into the exceptions to the 3.5 rule where they'll lend 4.5 times, usually for people on min 50k I'd say youd have a good chance

Do many people borrow more than 3.5 times their salary?

Seems an enormous noose to be putting around your neck.

But suppose the government do issue a range of supports to help single people buy and 30 year old Jane avails of these supports and buys a home. She meets the criteria because she is not married or cohabiting. What she failed to reveal though is that she is actually in a relationship for the last 5 years and as soon as the sale goes through her partner moves in with her.

Any supports for single people would be open to fraud. It just wouldn't be fair to couples.

Of course it is hard for single people but not every person who is single will remain single for the rest of their life. We could then have situations where both partners avail of the single supports and effectively get a big leg up the property ladder that isn't available to couples.

I do feel for people who are likely never to be in a long term relationship though but how do you prove that you will always be single.