Hi,
I don't post very often but read the threads every day so I'm hoping someone can help me. My boyfriend and myself are looking at buying a run down property and doing it up. The cost is €260,000 and we have estimated it will cost around €30,000 to do it up. I earn €26,000, he earns €25,800 and we both earn around €5000 a year extra in overtime. This is pretty much guaranteed once we are willing to do it. I also get a bonus of €2000. The problem is when I went to see a mortgage broker he told us that we probably wouldn't qualify for a 100% mortgage because our gross earnings are under €60,000. We can get a gift of €30,000 to do up the house and have savings of €8000. No loans, overdrafts or any other debts. If we buy the run down property we can't use our savings or gift to buy the property as we will need this money to do it up. Does anyone give 100% mortgages to lower earners?
I am due an increase of €2000 in January and he is due an increase of €5000 in February. Sorry if I have rambled a bit in the thread. Thank you!!!!