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Another self build mortgage query

  • 18-04-2012 11:28am
    #1
    user37
    Registered Users, Registered Users 2 Posts: 128 ✭✭


    Hi,

    i have plans etc for my house done up but before i spend anymore money (not knowing if i will get approved for a mortgage) is it possible to get approval in principle without having the costings done up for the bank.

    thanks


Comments

  • #2
    killers1
    Registered Users, Registered Users 2 Posts: 1,443 ✭✭✭killers1


    user37 wrote: »
    Hi,

    i have plans etc for my house done up but before i spend anymore money (not knowing if i will get approved for a mortgage) is it possible to get approval in principle without having the costings done up for the bank.

    thanks

    Yes, the banks can assess your income and proven repayment capacity and give you a figure that you qualify for that they would be willing to lend. This would mean providing documentation to the bank as opposed to just putting your figures through their income calculator..At least then you know your budget and can revise your costings accordingly.


  • #3
    user37
    Registered Users, Registered Users 2 Posts: 128 ✭✭user37


    thats brillant thanks! i just didnt want to folk out more money when there is a good possibility i wont get a mortgage!
    i have the planning 3 years so before it runs out i wanted to know were i stand.

    thanks again


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