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Apply for mortgage now or wait?

  • 23-07-2013 2:12pm
    #1
    GaGa21
    Registered Users, Registered Users 2 Posts: 652 ✭✭✭


    Hi guys,
    All advice welcome here. Myself and husband have been renting apartments for last 3 years since we married. We have a small deposit, I do save regularly-but it's usually spent on holidays! I'm working full-time but my husband has been unemployed for a while and is currently on a 6 month internship. we're hoping this will turn into a full-time job at Christmas.
    We would like to apply for a mortgage as rent prices are crazy now. Is it better for me to apply by myself, with my husband or to wait till he's in paid employment? Do you think house prices will go up much between now and next year?
    Thanks!


Comments

  • #2
    cgarrad
    Registered Users, Registered Users 2 Posts: 1,611 ✭✭✭cgarrad


    Wait till the €28 billion in 90 day plus mortgages is sorted out first.

    Then buy. More downside to come.


  • #3
    thefox1982
    Registered Users, Registered Users 2 Posts: 157 ✭✭thefox1982


    GaGa21 wrote: »
    Hi guys,
    All advice welcome here. Myself and husband have been renting apartments for last 3 years since we married. We have a small deposit, I do save regularly-but it's usually spent on holidays! I'm working full-time but my husband has been unemployed for a while and is currently on a 6 month internship. we're hoping this will turn into a full-time job at Christmas.
    We would like to apply for a mortgage as rent prices are crazy now. Is it better for me to apply by myself, with my husband or to wait till he's in paid employment? Do you think house prices will go up much between now and next year?
    Thanks!

    If you applied now, more than likely you would be declined. Wait until he in full time permanent employment.

    When you say you have small savings, banks need to be able to see at least 8% of the property price in savings plus solicitors fees (about €1500) plus the stamp duty.

    I would advise you to wait until he is in the full time job 6 months and bud up savings during that time


  • #4
    D3PO
    Registered Users, Registered Users 2 Posts: 7,879 ✭✭✭D3PO


    GaGa21 wrote: »
    Hi guys,
    All advice welcome here. Myself and husband have been renting apartments for last 3 years since we married. We have a small deposit, I do save regularly-but it's usually spent on holidays! I'm working full-time but my husband has been unemployed for a while and is currently on a 6 month internship. we're hoping this will turn into a full-time job at Christmas.
    We would like to apply for a mortgage as rent prices are crazy now. Is it better for me to apply by myself, with my husband or to wait till he's in paid employment? Do you think house prices will go up much between now and next year?
    Thanks!

    Reread your own post and you have your own answer. Ive even highlighted some bits to make it easier for you.


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