jedentag
Registered User
- Messages
- 25
Hi There,
I got some very helpful replies on here for a similar thread posted in Feb but things have moved on a little.
My partner and I got AIP for €440K 80% LTV in Feb, it expires in August.
She was 6 months pregnant at the time but we were advised not to highlight that if not asked directly at time of filling out mortgage application form.
My salary is €75K basic + €25K commission, hers is/was €33K and baby arrived start of May so she's been on Mat leave for a couple of months and we'll need to address that with bank at loan offer stage.
She is considering whether to go back full time and childcare implications of that, or she could do 24 hours a week at weekends, approx €20K per year and we would be able to manage without any childcare considerations.
In addition to that, we are 42 and 41 years old so only offered 23 year mortgage term which makes repayment on prospective new family home pretty stiff at €2,300 approx. per month. My previous mortgage on property I bought solo and is on the market to help fund sale offered me a term until 70 years old from same lender, I was told by this lender this is because I have a pension and she doesn't so only prepared to offer until 65 this time.
My questions are about an estimate on the likely haircut on AIP from €440K that bank is likely to offer based on dependent and part time return of my partner? What kind of things to they take into consideration so I can prepare before making that approach?
Secondly if anyone knows if the pension and loan term duration is something that varies bank to bank and worth my getting a broker involved, or if it's something that comes down from on high from Central Bank?
Appreciate any advice some of the informed people on here could offer and let me know if I need to post any further details, please.
We'd love to be in a family home before the end of this year if possible.
Thanks in advance.
I got some very helpful replies on here for a similar thread posted in Feb but things have moved on a little.
My partner and I got AIP for €440K 80% LTV in Feb, it expires in August.
She was 6 months pregnant at the time but we were advised not to highlight that if not asked directly at time of filling out mortgage application form.
My salary is €75K basic + €25K commission, hers is/was €33K and baby arrived start of May so she's been on Mat leave for a couple of months and we'll need to address that with bank at loan offer stage.
She is considering whether to go back full time and childcare implications of that, or she could do 24 hours a week at weekends, approx €20K per year and we would be able to manage without any childcare considerations.
In addition to that, we are 42 and 41 years old so only offered 23 year mortgage term which makes repayment on prospective new family home pretty stiff at €2,300 approx. per month. My previous mortgage on property I bought solo and is on the market to help fund sale offered me a term until 70 years old from same lender, I was told by this lender this is because I have a pension and she doesn't so only prepared to offer until 65 this time.
My questions are about an estimate on the likely haircut on AIP from €440K that bank is likely to offer based on dependent and part time return of my partner? What kind of things to they take into consideration so I can prepare before making that approach?
Secondly if anyone knows if the pension and loan term duration is something that varies bank to bank and worth my getting a broker involved, or if it's something that comes down from on high from Central Bank?
Appreciate any advice some of the informed people on here could offer and let me know if I need to post any further details, please.
We'd love to be in a family home before the end of this year if possible.
Thanks in advance.