increase in mortgage approval

B

BK2

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We were approved for a mortgage of 290,000 but have seen a property that we will need to borrow 300,000 for, we have asked our broker to see if it can be increased but she is yet to come back. would a 10,000 increase make much difference or could they refuse?? The approval is with PTSB.

I am selling my property and will have €80K - new property is €365,000 plus stamp is €21k and we have some savings so we will need 300K mortgage. I am earning €28K with annual bonus of €3k and my partner earns €32K - should we qualify for €300K, we have no loans or other debts and both in full time employment.
 
Yes, over a 35 year term and with no other borrowings you should qualify for €300,000. Lenders don't refuse a mortgage application completely but they will have a limit to which they will lend.

Sarah

www.rea.ie
 
we have 7K savings. 80K from sale of house

Total house cost is 365 and also stamp 21K so total is 386 so we will need 299K or 300K - we have money aside for auctioneer fee (on sale) and solicitors fees which is separate savings.
 
If you have approval for 290,000 it is likely that they will push it out to 300,000. May have to go for a 35 year loan.
 
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