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mortgge help

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  • 07-02-2011 5:59pm
    #1
    Cynortas
    Registered Users Posts: 282 ✭✭


    hi all im wondering if ye all could help me im looking for advice on getting a mortgage iv decided to buy a house and agreed a price so any help on which is the best lender would be alot im living with my fiance (shes on a student visa) and we are planning to marry in august so ill be getting the mortgage my self my gross pay yearly is 22k thanks


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    #2
    phill106
    Registered Users Posts: 6,810 ✭✭✭phill106


    Probably better off here http://boards.ie/vbulletin/forumdisplay.php?f=544

    Though on 22k, I am afraid you won't get enough money for a large mortgage. Someone I know is on a bit more then you and I believe got approved for around 130k.
    Really need one very good or 2 average incomes for a house mortgage these days.


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    #3
    neevodee
    Registered Users Posts: 14 ✭neevodee


    None of the banks are giving a 100% mortgage but Bank of Ireland are giving 92% as are AIB. Ulster Bank will only give 90%. Think they will only give you about 5 times your salary so 22k will only get you 110k and you'll have to come up with the deposit it as well. They're being really strict on having all your proof of income as well and proof of saving and the rent your paying. Good luck with it, hope it goes ok for you.


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    #4
    source
    Registered Users Posts: 5,269 ✭✭✭source


    Not trying to scare you op, but I know a couple who went looking for a mortgage, he has over 10k saved, and she owns a (very old) house and land, they were looking for a mortgage to knock the house that she owns and build a better one. They are both civil servants on permanent contracts, he's a teacher and she's admin staff, They were pre-approved for €400k but with planning mess ups their mortgage offer lapsed. So they re-applied and were told what to go do with themselves.

    There's very few people getting mortgages at the moment. I would say that you will find it hard on the money you're earning to get one unless you have a large deposit and are looking for a small amount over a long period of time.


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    #5
    Berty
    Registered Users Posts: 26,149 ✭✭✭✭Berty


    When I was earning 22k I was offered a 300k mortgage from PTSB. If I went anywhere near a bank now they wouldn't even give me an overdraft.

    I don't envy your position. Try a broker instead of going direct to a lender.


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    #6
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,639 Mod ✭✭✭✭Henry Ford III


    3 x income if you are lucky.


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