I have read a number of posts on similiar issues but wouldn't mind a few opinions on my own situation!
I have recently split with my partner. We have a mortgage on a property valued at approx €310,000.
He is going to buy me out of this property so I need to start looking at purchasing somewhere of my own. After he buys me out and I have cleared a couple of debts I will have approx €50,000.
I earn €41,000 and take home between €2650 and €2750 pm. My only outgoings other than mortgage repayments will be bills such as ESB etc and my VHI. I have about 4 months left till my SSIA matures and don't expect to have started repayments by then so that €254 will be available each month.
I have only started making enquiries regarding how much I could borrow but I have to say I got a bit of a shock. I know it probably makes more sense to go into the banks and talk to them directly but the figures i have got so far do not look good. I was told by one broker the most I would get would be about €210,000. I am not too optomistic about being able to purchase anywhere in Dublin for €260,000. I know for a fact from carefully working out my figures that I can afford to repay a larger mortgare than this and also take the hit of further interest hikes.
I have no credit cards, one small bank loan that will be cleared before I apply for any mortgage and very few outgoings as I said. Is there any hope for me getting a larger mortgage?
Thanks
I have recently split with my partner. We have a mortgage on a property valued at approx €310,000.
He is going to buy me out of this property so I need to start looking at purchasing somewhere of my own. After he buys me out and I have cleared a couple of debts I will have approx €50,000.
I earn €41,000 and take home between €2650 and €2750 pm. My only outgoings other than mortgage repayments will be bills such as ESB etc and my VHI. I have about 4 months left till my SSIA matures and don't expect to have started repayments by then so that €254 will be available each month.
I have only started making enquiries regarding how much I could borrow but I have to say I got a bit of a shock. I know it probably makes more sense to go into the banks and talk to them directly but the figures i have got so far do not look good. I was told by one broker the most I would get would be about €210,000. I am not too optomistic about being able to purchase anywhere in Dublin for €260,000. I know for a fact from carefully working out my figures that I can afford to repay a larger mortgare than this and also take the hit of further interest hikes.
I have no credit cards, one small bank loan that will be cleared before I apply for any mortgage and very few outgoings as I said. Is there any hope for me getting a larger mortgage?
Thanks