getting a 40k loan

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 within the next 5 years or my fiancee do anything?

We really like this house and im trying to figure out how if at all i can get a 40k loan.

Larbre34

Too many variables for a useful answer here.

Ask around for a respected local broker and go see him, work through it together, he'll test the market for you. Anyone giving you an answer here would be pure speculation.

Good luck.