Bankruptcy Over - Need to get a mortgage ASAP

Alan1962 said:
No, they take other things into consideration, and given that we have no dependents and wont have any, that means we can afford a much higher repayments.

When we got our first mortgage we then had kids, and all the costs associated with that,

Had we got better advice we should have closed our business earlier leaving our staff out of work, foolishly we tried to salvage the business and in return for extra funding gave the banks personal guarantees. We could have lived off rental income from our US holiday home instead we used that to pay our creditors.

Yes once out of bankruptcy we will have a high earning capacity, but our age is a concern and why we want to do something now so we dont have to rely on state handouts in the future.

Maybe you feek we should just live off the state?

If we live to be 90, that means 25 years of the state paying housing for us, surely it makes more sense for the state to help people like us get back on the property ladder, and its not financial help required, its looking at the lending rules sensibly.
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Keep us updated on this thread with how you get on with the banks, its all figures & credit history with them.
 
Alan1962 said:
Where do you get that from that lots of people rent in retirement?

I would be very sure that the numbers of people renting privately in retirement has been very low, unless they have sold off their home

Home ownership has been the Irish way for decades.

Would you like to be renting in your 70s and 80s when you could be evicted at any stage even if your rent is always paid on time?

I would also wager that the vast majority of pensioners in rented accommodation in Ireland are in state housing.
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Alan do you want to give us some figures. How much of a deposit you have etc. I can well see how in your mid fifties you both want to own your final home. Have you tried any banks so far? Would your children be willing to help out, as in be some kind of guarantor if the bank required that. Or get your children to purchase a property for you both, with a lease to end of life, or a side legal agreement that you pay rent to them but it's to pay the mortgage. Something along those lines.
 
deleted as did not know newspaper articles could not be quoted, even though the article has a share facility on it to allow it be shared
 
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