Basic advice for a first time buyer in Ireland, please.

[thots24]

Hi all,
I have just started a new job with a salary of approx 25000 euro gross (rising) and my partner earns approx 8000 . We're looking to get on the ladder but I have no idea where to start. I presume I would have to be working in this job for a minimum period or something like 6 months before I could even apply for a mortgage? Is there any way you could recommend I go about all of this? Is it best to speak to the bank or a mortgage advisor etc?
And any other advice at all would be greatly appreciated.

Thanks

Steven

 

[liteweight]

Normally a lender will expect you to be in a full time, permanent position. I'm not sure if they expect you to have held the position for 12 months. Why don't you have a chat witha mortgage broker, they're free and could probably answer any questions you need to ask. Lenders take a dim view if you have other loans outstanding and it will decrease the amount they are willing to offer.

You should take a look at MyHome.ie, Daft.ie etc. as at the bottom of each property has a mortgage calculator. Also Irish Mortgage Corporation, I think, has a first time buyer's guide on it's website.

 

[netopia]

My husband & I got our mortgage in January 2004.
He's foreign and had only arrived in Ireland the previous November and was only in his job less than a month at the time of our application. The bank's mortgage advisor kept asking "is he definately permanent".
Anyway we got the mortgage.
However I am a permanent civil servant and this may have had a bearing on the banks decision.
There may be a problem as even if you tell the bank that you are permanent, you employer will still have to fill in a form to state your annual gross salary. On this they will also have to say the status of your employment. Depending on your employer they may not be willing to state that you are permanent at this stage, as this may have legal implications in future (if you were dismissed).
I don't know if any of this helps, I know its impossible to know the best time to jump into the property market, however waiting a few more months might not be the end of the world, in terms of saving a deposit, being a lot more stable in your job, and the proprty market seems to be having a little stutter now.