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Mortgage

concreteslab2 · 2019-01-18 21:13:30

I know someone who is on Disability Allowance of 10.000 Euro per year. He is thinking about building a house on a site he owns with savings and a mortgage of 40,000 Euro. How are financial institutions and the Department of Employment Affairs and Social Protection likely to react to such a scenario?

18-01-2019 9:13pm

#1

concreteslab2

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I know someone who is on Disability Allowance of 10.000 Euro per year. He is thinking about building a house on a site he owns with savings and a mortgage of 40,000 Euro. How are financial institutions and the Department of Employment Affairs and Social Protection likely to react to such a scenario?

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Comments

#2 18-01-2019 9:19pm

blindside88

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I can’t imagine any financial institution giving a mortgage to someone in this position. They must have very substantial savings to only
Need €40k. You’re looking at a minimum of €100 per square foot for builders finish at the minute

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#3 21-01-2019 10:23am

Trish56

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You won't get a mortgage if the only income is 10k. Also lenders will need detailed costings from a qualified Architect/Engineer and the minimum they will accept per sq. ft. is €85 for rural areas and €100 per sq.ft. in Dublin.

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