net disposable income with mortgage application

jamiew

Registered User
Messages
14
hi guys,

we have application in for loan approval from boi, applicant one 36k a year, applicant two 9900k a year, we have no loans/credit cards, have 20000k lump sum in one account and have been saving 600 per month for last 7 months into save to borrow account, thats on top of our 800 per month rent were paying for last 4 years(proof provided)

thing is the NDI, we have a 3 year old atm, and another one on the way(which bank dont know about yet!!, thou may start getting obvious soon, am 4 months now!)

do you think we should be honest about it, were looking to borrow approx 155k, which would be 760 per month on 2 year fixed rate, on paper we can afford it but by their NDI calculations, not sure they would agree, anyone any opinions?

greatly appreciate your advice
 
hi guys,

we have application in for loan approval from boi, applicant one 36k a year, applicant two 9900k a year,

There seems to be a typo in Applicant twos income. Could you correct it, so we know what your income is.

If that is correct, I suspect that a mortgage would not be a problem ;)
 
thanks for pointing that out!!:eek: It is €9900 a year , looking forward to reply :)
 
Its tough out there.

We too are trying to secure mortgage approval. Saving 800 a month, 26,000 in savings. Paying mortgage 570 a month on top of this. Problem is salary for us. 31,000 for myself (took 10% pay cut) and no overtime whatsoever and my wife is earning 9,000. Banks will not give us a mortgage even tnough we have perfect credit, never missed a mortgage payment and are regular savers even tnough we are on low wages. Having 2 kids is another factor.
Needless to say I am looking for a new job (finally came to my senses on that one)
I am getting onto brokers next to see if there is any light at the end of the tunnel. In the meantime keep saving as much as possible
 
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