Do we have a chance with getting a mortage?

steirishrover

Hi it might be a stupid question but here it goes,

Myself and my partner are renting at the minute, we both are unemployed and wasting €800 (dead money renting) away a month on the apartment.

We saw a place going for €70000, and would love it. We have savings of about €6000 which i know isn't that much but would we have any hope of getting a mortage anywhere with both of us being unemployed?

We both will have good inheritances to more than easily cover the cost of the house if that would help with our application...

I worked out on the Mortage Calculator it would be about €380 a month over 20 years which we feel we can afford as were dedicated to putting every penny we can get hold of into a home for us..

Any help appreciated
Cheers
:o:o

subway

Not a hope

GetWithIt

Where are you getting the 800 a month for the rent?

I'm confused by your inheritances statement. Will you be receiving a lump sum at some point?

steirishrover

steirishrover wrote: »

Hi it might be a stupid question but here it goes,

Myself and my partner are renting at the minute, we both are unemployed and wasting €800 (dead money renting) away a month on the apartment.

We saw a place going for €70000, and would love it. We have savings of about €6000 which i know isn't that much but would we have any hope of getting a mortage anywhere with both of us being unemployed?

We both will have good inheritances to more than easily cover the cost of the house if that would help with our application...

I worked out on the Mortage Calculator it would be about €380 a month over 20 years which we feel we can afford as were dedicated to putting every penny we can get hold of into a home for us..

Any help appreciated
Cheers
:o:o

Some life for some

It's mortgage btw. And you're about 6 years too late, I'm afraid.

mkdon05

How will you pay the 380 per month if your unemployed? New dole measures mean you will be turned of it after about 6 months when they make changes to the current system ? ? I'm sure the bank will want this info.

GetWithIt

GetWithIt wrote: »

Where are you getting the 800 a month for the rent?

I'm confused by your inheritances statement. Will you be receiving a lump sum at some point?

Here's a wee hint. Starts with FR, ends in a D.

GetWithIt

Fred?

shoegirl

steirishrover wrote: »

we both are unemployed

That has to bring the answer no.
Unemployment rates and terms/conditions will change over time so the banks/BS will not take that risk.

Inheritances are not guaranteed. If your elderly relatives become ill and need long term care or the price of their assets collapse it might not cover your costs. Bear in mind also many people now are living to 90+.

GetWithIt

GetWithIt wrote: »

Fred?

Friend