Advice needed First Time Buyer

Hi, We are looking for 100% Mortgage for a house priced 245k. We have a deposit of 3k on the house at moment. We are flexible on types of repayments, variable/fixed.

Combined salary 65k.
One car loan - €183 per month.

Also have a site worth about 150k which we wish to build on within 5 years.

What is the best way to go in terms of lenders, considering we will need to change the mortgage to self-build in few years.

What are the things to consider?

Thanks

Assuming combined basics of 65k , keeping car loan 183pm , no other loans and under 35 years of age, all the Lenders would do the 245k for you both at 100% and 92%

Lenders that do 100% are PTSB , FA, UB , BOS , ICS (EBS and AIF for professionals).

There is no best Lender, check out their current rates and product offerings before deciding who to go with.

With regard the site you have, if you own it generally most lenders will allow you to get 100% of the cost of construction assuming your salaries can cover that amount. (BOS don't do site builds though). You'll need full planning permission on the site to begin any build project and a certified builder\architect to supervise construction.

Are you building second home or extension? If second home, do you intend on selling first one or renting out?

Thanks for that,

I have been into a mortgage broker since posting and for some reason he mentioned approaching Irish Nationwide, I am a bit hesitant on this as hadn't researched this lender at all. I will wait see what options are like from this one - have you any advice on this one.

We will be building new house in 2-5 years, site was gifted to us, will have full planning in Jan for this so site worth 150k approx with planning.