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Living at home?

  • 29-05-2014 10:31am
    #1
    murph226
    Registered Users, Registered Users 2 Posts: 1,385 ✭✭✭


    I'm living at home while I'm saving for a mortgage.


    Can the money I contribute at home be taken into account when applying for a mortgage?


    The money is lodged into my Mothers Credit union account weekly.


Comments

  • #2
    Eldarion
    Registered Users, Registered Users 2 Posts: 484 ✭✭Eldarion


    murph226 wrote: »
    I'm living at home while I'm saving for a mortgage.


    Can the money I contribute at home be taken into account when applying for a mortgage?


    The money is lodged into my Mothers Credit union account weekly.

    Very much so if it's clearly identifiable as rent payments. It needs to be clear and consistently on time every week or every month.

    Cash lodgements in and around random dates that can't be identified clearly as rent won't cut it. Change your system of payment now so it can be used as proof of payment capacity and don't miss a single one for any reason.


  • #3
    murph226
    Registered Users, Registered Users 2 Posts: 1,385 ✭✭✭murph226


    Thanks for the quick reply!


    Yes its lodged every week without fail by direct debit, the same amount every week.


    In my online banking its just down as CRU and a code with it, should I get the bank to change this and mark it as rent or is it ok as is?


  • #4
    GavMan
    Registered Users, Registered Users 2 Posts: 1,930 ✭✭✭GavMan


    murph226 wrote: »
    Thanks for the quick reply!


    Yes its lodged every week without fail by direct debit, the same amount every week.


    In my online banking its just down as CRU and a code with it, should I get the bank to change this and mark it as rent or is it ok as is?

    I do something similar. I transfer online to my folks joint account and the bank (AIB) were happy with that


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