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Max mortgage versus reasonable mortgage.

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  • 28-11-2013 3:17pm
    #1
    Thomas D
    Banned (with Prison Access) Posts: 554 ✭✭✭


    I shall be looking to buy in another euro country in the next 6 months. Interest rates are 2.7‰ with 75% Ltv. My details.
    One income, €5,500 net a month. Partner and child. 70k deposit.

    Would 500k be out of the question? That's 430 lending.


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    #2
    murphaph
    Registered Users Posts: 19,018 ✭✭✭✭murphaph


    How much are you currently saving and/or paying in rent each month? It's a good salary in any Eurozone country IMO but it's just one salary. I presume your job prospects are good even if you lose the contract/job you're currently working at?

    Are you talking 2.7% fixed for the life of the mortgage? (not uncommon in Germany for example to fix the entire 20 years and you can do so today at around 3%-people in Ireland would kill for such mortgages)


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    #3
    Thomas D
    Banned (with Prison Access) Posts: 554 ✭✭✭Thomas D


    Best 20 Year fixed is 4.5%.
    Actually that variable rate I quoted is high. Best rate is 2.35%. Income is completely secure and will increase by 300 net per year for a decade.


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    #4
    murphaph
    Registered Users Posts: 19,018 ✭✭✭✭murphaph


    Then you've nothing to worry about. Go for it if you want to buy.


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