Loan as a student with assets

Icyseanfitz

Hello,

Me and my Fiancee are looking to buy our first home. She works fulltime and has secured a loan of 120,000 on her own. I am currently a fulltime student in receipt of a education scheme payment, my income isnt great but combined our monthly income is around 2500 (1600-900). 

Including our savings we have around 160-170k and in order to purchase the house we are looking at we would need 195k. I have a plot of land valued at around 80k in my own name.

My question is would having assets to set as collateral against a 40k loan improve my chances ( i know my income is too low for that alone to be taken into account by myself even though i would manage the repayments with my fiancee). 
Would having a Guarantor, either my father who owns a 60 acre farm that will be signed to me or my fiancee do anything? 

Kind regards,
Sean

Bank of Ireland: Darren

Icyseanfitz wrote: »

Hello,

Me and my Fiancee are looking to buy our first home. She works fulltime and has secured a loan of 120,000 on her own. I am currently a fulltime student in receipt of a education scheme payment, my income isnt great but combined our monthly income is around 2500 (1600-900). 

Including our savings we have around 160-170k and in order to purchase the house we are looking at we would need 195k. I have a plot of land valued at around 80k in my own name.

My question is would having assets to set as collateral against a 40k loan improve my chances ( i know my income is too low for that alone to be taken into account by myself even though i would manage the repayments with my fiancee). 
Would having a Guarantor, either my father who owns a 60 acre farm that will be signed to me or my fiancee do anything? 

Kind regards,
Sean

Hi Sean,

Thanks for getting in touch with us here. 
I'd ask you to talk with one of our mortgage specialists. They'll be able to talk all of your details and confirm all of the options available to you. 
I've given a link here that you can use to arrange a call back from our mortgage team and they'll be delighted to go through this with you. 

Thanks again, 
Darren.

Davey23

Hi,
I was just wondering could you answer something for me regarding a loan aswel?

Roughly 18 months ago I took out a loan of roughly €3000, I have never missed a payment and will finish paying back this loan in April coming.

My situation is that I have just taken up a new job and will be starting soon and will now require to buy a Diesel car due to travelling daily.

My question is, can I top up on that loan for roughly €5-8000 or do I have to wait for my previous loan to be cleared??

Many thanks.

Bank of Ireland: Darren

Davey23 wrote: »

Hi,
I was just wondering could you answer something for me regarding a loan aswel?

Roughly 18 months ago I took out a loan of roughly €3000, I have never missed a payment and will finish paying back this loan in April coming.

My situation is that I have just taken up a new job and will be starting soon and will now require to buy a Diesel car due to travelling daily.

My question is, can I top up on that loan for roughly €5-8000 or do I have to wait for my previous loan to be cleared??

Many thanks.

Hi Davey23,

Thanks for the query.

You can certainly apply for a top up loan at the moment.
I've given a link here that you can use to apply for a loan with Bank of Ireland. Once you click on the option to apply for a loan you will be asked on the second page whether the loan you're applying for is a top up or a new account.

I hope this is some help,
Darren.