Barriers for applying for increasing mortgage?

fun

Registered User
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31
Hi,

We (married couple with two kids 3y & 6 months) have a current tracker mortgage with Ulster Bank. It was for our 3BedSemi that we bought for €280k. We currently owe €210K and the house is 'worth' €235k. Our mortgage is currently €900/month, and we also pay an extra €100/month into it. There is 20 years left on it.

Salaries are in the region of €65k (permanent position) and €30k (sole trader - but business has taken off substantially after 2y in business). We don't have loans on cars, no cc's, and no creche fees. We do have health insurance, which is one of our costly outgoings. Our savings are modest (€35-40k). We save regularly enough, but have to dip in for emergencies for the kids/car etc.

We want to move house basically, to where our roots are but still a short commute to dublin for the kids sake. I've made an apt with Ulster bank to discuss same, but want to go in with as much info as I can. He was a little cagey on the phone regarding negative equity etc.

So, if he says 'no, your not eligible for an extra €100k, for example,' what can I bring to the table in order to convince him? or is it an answer that the computer says no?

Thank you in advance !
 
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