1st Time Buyer - How much can I get?

H

Hulio

Guest
Hi there .......I'm hoping to purchase my own home in the next few months, just trying to feel out how much I could possibly expect to get from a Mortgage Lender

My details are as follows:

Marital Status: Single
Age: 34
Employment: Full-time, permanent
Salary: €45k

I've currently approx. €20k saved to put towards a deposit. My Mum has substantial assets (cash/land) & would be willing to guarantee the loan. I'm hoping to purchase a three bed house/duplex/appt...with a view to renting a room as well.
 
About 240k on your own salary on a 3 bed, depending on strength of your mothers financial position (based on age and salary more than assets) you could add around 40k to this.
 
Don't forget that it's the guarantor's *income*, not their assets that determine how much more you can borrow with their assistance - unless they are prepared to sell/mortgage these assets to provide a cash gift.

Sarah

www.rea.ie
 
I have no outstanding loans. My mum's situation is as follows. House/land value approx. €1.5 million & also cash >€500k. Do not want to borrow or have cash gift from mother, may cause issues within the clan & mainly would prefer some level of independence!!!!!
 
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