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Mortgage application inquiry

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  • 12-04-2021 7:41pm
    #1
    Audioh8
    Registered Users Posts: 39 ✭


    I have worked 4 years in a permanent role with steady increase in wage (still under 30k per annum)

    I am currently studying to become a teacher with Hibernia.

    This year I worked my standard job and have since took a break to work as a substitute teacher. This substitution will end at the end of the academic year.

    Is there any way banks will look at me. For example, if I work full time for the rest of the year, 3 months, 6 months back with my standard retail job?

    Any help or questions welcome


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    #2
    Buddy Bubs
    Registered Users Posts: 3,514 ✭✭✭Buddy Bubs


    Can't see it happening without substantial deposit from you? What size of a mortgage would you be looking for


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    #3
    Audioh8
    Registered Users Posts: 39 ✭Audioh8


    Buddy Bubs wrote: »
    Can't see it happening without substantial deposit from you? What size of a mortgage would you be looking for

    120,000 max. My partner’s father will do up the property for minimal cost.

    She has permanent job of 23k per annum

    How much deposit are you suggesting? I have decent savings record and would receive gift for up to 20k if needed


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    #4
    Buddy Bubs
    Registered Users Posts: 3,514 ✭✭✭Buddy Bubs


    So is it a joint application? That's different to your opening post

    That changes things


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    #5
    Audioh8
    Registered Users Posts: 39 ✭Audioh8


    Buddy Bubs wrote: »
    So is it a joint application? That's different to your opening post

    That changes things

    For the better I hope? Yes, a joint application with my partner being the main applicant. Her bank is Perm TSB.


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    #6
    spion1892
    Registered Users Posts: 5 ✭spion1892


    Buddy Bubs wrote: »
    So is it a joint application? That's different to your opening post

    That changes things

    Buddy Bubs is right, if your partner has been earning 23K for over a year then that should clear you for 3.5 that, around €80K. You might be able to get your earnings counted at a discount ontop, some lenders discount this by 50%, so that would get you another 50K = 130K.

    If your savings are good and you have no other loans etc.. it's possible.

    I'd have a chat to a broker who could steer you to a lender that might include your income as a variable, not all of them will. Make sure the broker deals with PTSB, ICS or Finance Ireland these seem be more flexible than some of the others.


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