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How to get mortgage ready ...

gemini_girl · 2013-05-12 00:14:58

Hi, I'm just trying to get an idea of certain criteria to meet for mortgage approval. We arent in a position to apply this year but want best chance of approval when we do. Basically we are a married couple with 2 children (no childcare). We bought (2003) & sold a house (2006) so are not first time buyers but dont have any…

12-05-2013 12:14am

#1

gemini_girl

Registered Users, Registered Users 2 Posts: 234 ✭✭

Join Date: December 2009

Posts: 181

Hi,
I'm just trying to get an idea of certain criteria to meet for mortgage approval.
We arent in a position to apply this year but want best chance of approval when we do.
Basically we are a married couple with 2 children (no childcare). We bought (2003) & sold a house (2006) so are not first time buyers but dont have any property either. We are renting privately & pay 200 a week out of 370 a week on rent. My husband was unemployed for 2 years up until 6 weeks ago. He is now working in Canada. When he returns in the winter we will be debt free with apx 25k saved. So then he needs to find full time permanent employment. we would be looking to buy a house with a value of 100 - 110k & use 20k as a deposit. How long would he need to be working here in Ireland & what other things will the bank look at? We never missed mortgage or rent payments etc. We are both 33 so 30 years prob max term. Online calculators saying repayments apx 460 a month (nothing compared to the 800 we paid out of unemployment allowance!). Any advice welcome

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Comments

#2 12-05-2013 8:13am

quietsailor

Registered Users, Registered Users 2 Posts: 1,428 ✭✭✭

Join Date: August 2006

Posts: 1351

Your best bet might be to pm one of the posters in this forum - Killers1, he's a financial adviser but has been exceptionally generous helping people like yourself on this forum.

He's helped me out before getting ready to look for a mortgage and his advice was clear, unlike a lot of financial advice. There is actually a thread knocking around called ode to killers1 so you can see other peoples' favourable comments about him.

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