Re: Joint borrowers earning €60k-what can we get?
Hello Damian
Just to let you know that the calculators you can use on various lenders' sites more often than not tell you that you will get much less than you will in reality. If you go to a mortgage broker - and I have dealt with the Irish Mortgage Corporation a couple of times in the last 2 years and I have found them extremely efficient (Chris Dale was my man, v. good) and there are no doubt other excellent brokers out there too - they will secure you a bigger amount. On your wages, you should get something between €300k - €350k I reckon.
If you are on a salary scale, some lenders take this into condiseration and will calculate the amount along those lines i.e. they will give you more because they know that your wages will go up. Ask the broker about this.
I would do my best if I were you to buy now. I wouldn't wait for the 'bubble to burst' or anything like that. If you can get on the ladder at all, then do it as soon as you can. 3 years ago, myself and my wife bought through the shared ownership scheme, a year later we were both promoted and were able to buy the apartment fully ourselves (or rather get the full mortgage ourselves) and now we have about 100k equity and are buying a bigger apartment.
It's all a bit nerve-wracking but I'm delighted we were able to buy somewhere. You might be earning too much for the shared ownership scheme but check it out anyway and check the affordable housing scheme too. But also see how much a broker will get for you - don't forget to ask them if they deal with all the major lenders and plenty of other lenders too so that you get all the options - and perhaps email the broker first with details of your circumstances and get him/her to do the spadework for you even before you get there.
Very best of luck to you, I'm sure it'll work out well for you both and you'll be proud owners soon. Remember the first place doesn't have to be a mansion!