How much can I borrow

[relax carry on]

Civil servant aged 38.
Joint mortgage application.
1 income 51,500 currently rising to 58,000 at max increments.
31 years left till retirement.
2 applicant, stay at home mum minding our two children, so no childcare costs.
Savings of €36,000
Currently saving 180 monthly with any build up in current account getting put into savings accounts periodically.

Rent 750 monthly.
No loans ever.
No overdrafts ever
No credit card balances ever.

Apologies if in wrong area.

 

[Joe_90]

3.5 times gross salary seems to be the limit.

http://www.mortgages.ie/go/first_time_buyers/how_much_can_i_borrow

 

[Steven Barrett]

You won't get 3.5 times either.

Another requirement is that you have a certain net disposable income after bills are paid. With a wife and 2 kids, you'll need to have about €2,500 in disposable income. It's really tough to get a mortgage on one income.

You will qualify for a mortgage of around €120,000


Steven
www.bluewaterfp.ie

 

[redy38]

we got approval for 102k with one income of 36k plus annual bonus of 5k...got refused in 2 banks (UB and KBC), went to a broker and got approval from Pepper (the other option was home choice loan, but didn't apply there after we already got approval).

 

[michaelm]

It's really tough to get a mortgage on one income.

For sure. I found UB to be more amenable than others when it comes to single-income plus kids. I think you might get circa 140k approved with any luck.

 

[relax carry on]

Thanks for the replies all. Think I'll try Ulster Bank then.