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Any point applying for mortgage?

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Comments

  • #32
    Cash_Q
    Registered Users Posts: 1,920 ✭✭✭Cash_Q


    Aoife_ wrote:
    Have we any chance or need to just get out acts together and come back in 6 months


    The only way you'll know for sure is if you approach them. Having a big deposit is great, but they want to see your ability to repay the loan, and this is evident through showing the discipline to save regularly alongside your standard monthly outgoings. We were also told they like to see 'normal' spending, e.g. a Burger King at 3am every now and then shows you're not living such a strict lifestyle in order to save that you'll lose the run of yourselves once you get approval.

    Main criteria they're seeking:
    Steady outgoings
    Steady savings
    Normal spending within your means


  • #33
    Fol20
    Registered Users Posts: 3,623 ✭✭✭Fol20


    Cash_Q wrote: »
    The only way you'll know for sure is if you approach them. Having a big deposit is great, but they want to see your ability to repay the loan, and this is evident through showing the discipline to save regularly alongside your standard monthly outgoings. We were also told they like to see 'normal' spending, e.g. a Burger King at 3am every now and then shows you're not living such a strict lifestyle in order to save that you'll lose the run of yourselves once you get approval.

    Main criteria they're seeking:
    Steady outgoings
    Steady savings
    Normal spending within your means

    Iv never heard of the Burger King type thing before. Maybe gambling is a no no but people do go out get food, have a few drinks etc


  • #34
    Cash_Q
    Registered Users Posts: 1,920 ✭✭✭Cash_Q


    Fol20 wrote:
    Iv never heard of the Burger King type thing before. Maybe gambling is a no no but people do go out get food, have a few drinks etc


    Yes exactly, and they prefer to see evidence of this kind of spending, rather than living on such a tight budget that you can only meet your obligations and then live like saints otherwise.


  • #35
    charlietheminxx
    Registered Users Posts: 2,579 ✭✭✭charlietheminxx


    Cash_Q wrote: »
    Yes exactly, and they prefer to see evidence of this kind of spending, rather than living on such a tight budget that you can only meet your obligations and then live like saints otherwise.

    Yeah myself and my partner met with a mortgage advisor in AIB and she told us the same thing, they like to see you can balance normal life and savings. That’s what I’ve reminded myself every time I’ve stuck in a Just Eat order or some online shopping anyway!


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