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Clueless About Mortgages!!!

  • 18-10-2012 4:37am
    #1
    Take_Her_Handy
    Registered Users, Registered Users 2 Posts: 259 ✭✭


    Hi guys & girls, My fiancée and I have been looking at houses and after settling on one would need to borrow roughly €50000.

    I do not have the foggiest of what the general in's & out's are on applying, re-paying, criteria are!!! I do not know where are the better institutions from which to lend from are.

    If anybody could point me in the right direction & let me know the pitfalls & advantages are I would be very great full.

    I am 27, full time €22000 per year & Herself is 26 full time €16500, no loans, Enough savings to get away with only borrowing €50000. Term 25yrs.

    Regards,

    Confused Trev!!!


Comments

  • #2
    handlemaster
    Registered Users, Registered Users 2 Posts: 6,003 ✭✭✭handlemaster


    OP. Go to itsyourmoney.ie etc and the mortgage calculator will give you an indications of what your repayments will be given your deposit, term etc.
    I don't know what the other poster is on about and the link is of no use. Stick with the main banks for mortgages don't over pay on interest just for the desire to get a mortgage right now. Thats how people get into trouble financially.


  • #3
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    A 25yr mortgage for €50k???? why not make it 35 while you're at it.


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