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How much of a savings record required for mortgage approval?

lfcgirl · 2012-01-22 22:49:31

My husband and I are in the process of applying for a mortgage at the moment. We had thought we wouldn't have a chance of approval as my job is not permanent. However, as we're not looking for a lot more than my husband would be approved for alone, I was told that if I could prove regular employment and earnings and…

22-01-2012 10:49pm

#1

lfcgirl

Registered Users, Registered Users 2 Posts: 11 ✭

Join Date: February 2011

Posts: 6

My husband and I are in the process of applying for a mortgage at the moment. We had thought we wouldn't have a chance of approval as my job is not permanent. However, as we're not looking for a lot more than my husband would be approved for alone, I was told that if I could prove regular employment and earnings and provide comfort letters that a portion of my earnings might be considered.

A bigger problem though is that although we have a deposit of €50,000 (we would be looking for about €150,000) we don't have a solid record of saving - we have been paying rent regularly - our mortgage payment will be less than the rent. How long do you think we would need to have regular savings for to please the bank?

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