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Advice on getting a mortgage

  • 18-01-2019 8:14pm
    #1
    Sureal
    Closed Accounts Posts: 39 ✭


    Hello. I have a few questions on getting a mortgage, I'm hoping someone can help.

    Me and my partner are looking to buy a place. He is earning 44k per year but I've gone back to college to study in a different area because work in my area has dried up. That means I'm only in receipt of back to education allowance. Am I right in thinking that the back to education allowance won't be taken into account when the bank is evaluating our application?

    If so then our limit is 3.5 times his salary which leaves us at 154k plus our deposit which is at 40k combined. So if approved we could get a place for 194k. We are looking to buy in the Dublin area and surroundings, there are a few but not many places available for that price. What is the best course of action for us to take? Just wait until I'm finished college (a few years), get a job and then try? Would me going in on the application make a difference at all? Maybe he'd be better off applying by himself?

    Sorry, I'm not highly educated on this area. Any help would be appreciated. Thanks.
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