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Single Mortgage

  • 12-12-2018 9:34pm
    #1
    ladyjuicy08
    Registered Users Posts: 304 ✭✭


    Would I qualify for a single mortgage? I currently have a joint mortgage for a property for €174000 since 2010 property is now worth avg €240000 Any profits would be split 50/50 but in principle would be the only available funds to me as a deposit. I earn avg €35000 pa and have no dependents.


Comments

  • #2
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    ladyjuicy08 wrote: »
    Would I qualify for a single mortgage? I currently have a joint mortgage for a property for €174000 since 2010 property is now worth avg €240000 Any profits would be split 50/50 but in principle would be the only available funds to me as a deposit. I earn avg €35000 pa and have no dependents.

    You could probably borrow 122,500 (3.5 rule).

    Mortgage remaining probably 140k I'm guessing ?

    Leaves you a 50k deposit, so if you've paid your mortgage on time every time and have no other loans you may get approval for a purchase up to 162k or so.


  • #3
    Caranica
    Registered Users Posts: 10,000 ✭✭✭✭Caranica


    ladyjuicy08 wrote: »
    Would I qualify for a single mortgage? I currently have a joint mortgage for a property for €174000 since 2010 property is now worth avg €240000 Any profits would be split 50/50 but in principle would be the only available funds to me as a deposit. I earn avg €35000 pa and have no dependents.

    How much of a mortgage would you be looking for?

    No record of savings may go against you but it would be worth talking to a broker


  • #4
    ladyjuicy08
    Registered Users Posts: 304 ✭✭ladyjuicy08


    Something under €200000 if possible due to personal circumstances my current living situation has changed so don't have any saving as wasn't expecting to have to sell Would love to stay here if thought the bank would let me take on the mortgage myself or other option would be selling and buying something by myself


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