will we get mortgage?

D

daisydolly

Guest
my partner was refused a mortgage some months ago as he was working self employed, we decided it better for him to go on the mortgage alone as i was studying and only receiving a bursury of approx €1000 per month for 1 year only, i am now in fulltime employment in a semi public sector organisation but due to the embargo i can only be given a 2year contract, despite being reassured constantly that my position will be available to me in 2yrs (without being reinterviewed) my dept cannot put permanent on my mortgage application.
My boyfriend has secured a permanent position as a hospitality manager over 35 years. we have the house half built also, on a site we own oursleves. will the house being half built affect us also? our joint gross salarys will be approx 60k.

will my 'temporary' status affect us? his salary in approx gross €40k.

my job is about a thousand times more permanent than anyone working in the bank right now.

all help much appreciated
 
Have you been building the house from savings or have you a mortgage on it already and need to get an additional top up?
How much are you looking to borrow? is it 100k or 500k.
The only true way of knowing is to apply for one.
I saw on another thread recently that some institutions will not loan out for the completion of an already started build. Don't recall all the details. sorry.
 
You have quite a few factors going against you:

1) Both you and your boyfriend are only in your new jobs a short time. Has you boyfriend passed his probationary period?
2) You will be classified as a contract worker
3) The house is half built - some lenders will not take over a partially completed house.

It all depends on how much of a mortgage you need but I think you will struggle for approval. You will need to prove to the lenders that your are currently paying rent and/or saving the same amount as what the mortgage repayments will be stress tested at a rate of around 6%.

[broken link removed]
 
thanks for the replies....

we have built the house from savings so far and have invoices to prove this, and we require another 70k to finish the house.

we are looking for a mortgage of 70k.

my boyfriend has no probationary period in work and his employers have said they will write a letter to confirm this.
 
do you think 3 months will be sufficient for my partner to be in his job? I'll still be with the same employer, just moving from parttime to fulltime on a new contract.
 
Due to the small amount and the fact here are two applicants you might be ok.
Just give PTSB a quick ring.
 
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