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Mortgage. On do banks decide on how much you can borrow

  • 13-09-2006 5:53pm
    #1
    Trampas
    Registered Users, Registered Users 2 Posts: 7,987 ✭✭✭


    Does anyone know how banks decide on how much they will lend you?

    Is it x times both you and your partners salary?


Comments

  • #2
    ircoha
    Closed Accounts Posts: 2,290 ✭✭✭ircoha


    yes in principal, go to a broker for the details..
    also v important is ur ability to repay so the multiples are irrelevant if u are already up to ur t*ts in short term debt eg cars/holdays etc


  • #3
    Dutz
    Closed Accounts Posts: 102 ✭✭Dutz


    it depends on your circumstance eg wage, if you owe bills - if you want pm me , i work in a mortgage brokers and i can get someone to run through figures if you want


  • #4
    faceman
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators, Social & Fun Moderators Posts: 16,663 CMod ✭✭✭✭faceman


    Its not done by x times your salary. Its based on your ability to repay.


  • #5
    byte
    Moderators, Regional North West Moderators Posts: 19,158 Mod ✭✭✭✭byte
    byte


    Some mortgage websites have a Mortgage calculator which may help:

    http://www.mortgages.ie/borrow.cfm is an example.


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