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Mortgage Advice

  • 14-04-2015 1:34pm
    #1
    stevo51
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi guys, I'm hoping some of you can give me some advice. My partner and I along with our baby currently rent a house. This is due to the fact we can't get a mortgage like a number of other people. I am a teacher working full time and my partner is a nurse working part time. We can't get a mortgage as I don't have a permanent/cid contract. My question is should I buy a site now to have for the future when we hopefully can get a mortgage. We can afford to pay of a site as well as rent. Also should I solely put the site loan in my name so that when my partner goes back to work full time we could apply for the mortgage in her name with no borrowings?? Any help or assistance would be much appreciated. Thanks


Comments

  • #2
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Well I'm sure it's not in the charter but common sense would assume a corollary of the no legal advice is no financial advice. Why not speak to a financial advisor?

    My wife and I have been approved for a mortgage with me working Part-Time and her on temporary contract, did you try everyone, are you sure it's not something else holding you back? For example demonstrating repayment through saving.


  • #3
    stevo51
    Registered Users, Registered Users 2 Posts: 4 ✭stevo51


    MarkAnthony wrote: »
    Well I'm sure it's not in the charter but common sense would assume a corollary of the no legal advice is no financial advice. Why not speak to a financial advisor?

    My wife and I have been approved for a mortgage with me working Part-Time and her on temporary contract, did you try everyone, are you sure it's not something else holding you back? For example demonstrating repayment through saving.

    Thank you for the reply. We are able to show ability of repayment as our current rental is the same as the mortgage would be. Also we have have enough saved for the deposit. Any bank I have been in contact with have said unless one of us was permanent they could not help. I kinda just like to know if we were to purchase a site for the future should I keep the loan in my name only so that when my partner is full time we could apply for a mortgage with her as the main person and she would have no borrowings? Thanks again, maybe this is not the right thread to post in.


  • #4
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    You need to save as well as pay the rent with a history of doing so. KBC approved us even though my wife works for TCD on contract, they specifically mentioned teachers as the type of employment she fell into.

    Best of luck.


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