Mortgage Applications

Eoghan25

Hi, I am thinking of getting a mortgage but im finding that what the banks are quoting the max i can burrow will not be enough. I have done out budgets talking in all my outgoings and including everything even holidays heading out etc and i reckon i can easily afford more what i am asking is has anyone been in similar situation n had success gettin more if so how did they go about it + can you have a sit down with the bank and justify your case
cheers

eoghan

miju

while i dont know the ins and outs of mortgage applications i do know that the banks "stress test" you at the current ECB interest rate +2%

maybe rejig your figures with that in mind and see if comes close to the banks mortgage offer , best of luck

godtabh

Can some one come in and help you?

I got my parents to help just to boost how much i could get and I got what I needed

seamus

Yeah, the banks generally work on a figure a good deal higher than the current interest rate, to ensure that their investment in you can handle such increases.

Try dealing with a mortgage broker instead of directly with the banks. The broker costs you nothing, and they're generally good at showing the good side if your figures for whatever amount you're looking for.

Most people these days seem to get guarantors as kearnsr says. A guarantor has no real liability in terms of mortgage repayments, and they don't go on the deeds, so they don't affect your FTB status. The bank will sell your home before they chase the guarantor for money (in the event that you default), so the risk you're exposing your guarantor to is minimal.

Dutz

p m me mate and ill put you intouch with a good consultant who can give advice - i work in a mortgage brokers but not qualified yet so cant advise myself

Jaybee

I work in a brokers if you would like me to give you a rough estimation of what you could borrow. Just let me know.