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Chances of a mortgage

  • 04-08-2010 10:14am
    #1
    event
    Registered Users, Registered Users 2 Posts: 16,119 ✭✭✭✭


    just wondering what are the chances of myself and herself getting mortgage approval.

    Between us we would make around €68,000 per year Gross.
    both in secure jobs
    we both have car loans, mine is currently at around €7000-€8000, im not sure but i think hers is around €4000.
    neither us of have ever missed a payment on them, not in arrears.
    small bit of CC debt, around €500 so easily payable
    between us we would have a deposit saved
    we havent saved much in the past few months, but before that there is a solid history of saving

    i know calling to the bank is the easiest thing but wanted to know peoples opinions here

    cheers


Comments

  • #2
    ntlbell
    Registered Users, Registered Users 2 Posts: 16,288 ✭✭✭✭ntlbell


    it's impossible to say.


  • #3
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,986 Mod ✭✭✭✭Moonbeam


    Depends how much you want to get but once you have the car loans clear and the jobs are stable the banks should oblige.


  • #4
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    you should get one the car loans and lack of recent saving will seriously impact the amount offered though.

    but you should get approval for something albeit a paltry amount I would suggest.

    If I were you Id forget about looking for a mortgage at the moment. If you have a deposit saved your far better using that money to clear your car loans and credit card debt.

    you will be getting a far better retun than having it invested in a savings account.

    makes far more financial sence. why pay the bank somewhere between 9 - 18% apr on loans credit card debt when you have money sitting in a deposit account earning probably between 0 - 3% APR

    once cleared start saving for your deposit again. Theres no rush house prices arent rising for the next while


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