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mortgage approval including deposit

  • 20-05-2015 8:24pm
    #1
    pacman1989
    Registered Users, Registered Users 2 Posts: 74 ✭✭


    Hi I'm just wodering is the amount of a mortgage approved for including your deposit . if I was approved for 100k mortgage would I have 100k only to spend on the houSe or the 100k plus 10k deposit or whatever deposit you have.


Comments

  • #2
    Bank of Ireland: Elaine
    Closed Accounts Posts: 1,367 ✭✭✭Bank of Ireland: Elaine


    Hi pacman1989, 

    Thank you for getting in contact with us here on Boards.ie.

    In most cases if you are a first time buyer and a resident within the Republic of Ireland, the deposit would be in addition to the Mortgage amount approved. In regards to your example, once the deposit is in place the value of the house would be at least 110K. 

    As each mortgage application is seen on a case by case basis, we would suggest that you contact one of our dedicated Mortgage advisor's who will be more than happy to provide further clarification on your query. You can find their contact details here and you can also request a call back. 

    We hope this helps and if we can assist with anything else, please don't hesitate to post again. 

    Thanks, 
    Elaine 


  • #3
    pacman1989
    Registered Users, Registered Users 2 Posts: 74 ✭✭pacman1989


    Bank of Ireland: Elaine wrote: »
    Hi pacman1989, 

    Thank you for getting in contact with us here on Boards.ie.

    In most cases if you are a first time buyer and a resident within the Republic of Ireland, the deposit would be in addition to the Mortgage amount approved. In regards to your example, once the deposit is in place the value of the house would be at least 110K. 

    As each mortgage application is seen on a case by case basis, we would suggest that you contact one of our dedicated Mortgage advisor's who will be more than happy to provide further clarification on your query. You can find their contact details here and you can also request a call back. 

    We hope this helps and if we can assist with anything else, please don't hesitate to post again. 

    Thanks, 
    Elaine 
    Hi thanks for the quick reply Elaine . if you have extra money can you put that on top of the mortgage too ?


  • #4
    Bank of Ireland: Elaine
    Closed Accounts Posts: 1,367 ✭✭✭Bank of Ireland: Elaine


    Hi pacman1989, 

    Thank you for coming back to us. 

    Once you meet the criteria to qualify for a Mortgage, you can certainly put extra money towards the purchase. This will then provide you with either a higher purchase price for the house or a lower mortgage amount. 

    If you would like us to arrange a call back for you to discuss the specific figures, please PM us with your name and contact number. 

    Thanks again, 
    Elaine


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