low income mortgage

M

mandzhalas

Registered User
Messages
5
Hi. I moved to Ireland about 5 years ago.Was renting house since day 1 for 550 euros a month.I invited my girlfriend to come here about 3 years ago.Well my girlfriend got pregnant and we have 4 months daughter now.We decided to stay here for good,and thinking about buying house.We have been saving for about year and we have 5000 in credit union account.Our income is very low.She is getting 350/week in cheque. I am getting 300/week to my bank account and about 250 in cash(black money or whatewer its called;)). We are thinking about 2 or even maybe 3 bedroom house.I think 150 000 euros should do it.

Is there any chance at all getting mortgage,or our income not near big enough for it?
 
Assuming the income figures you quote are basic guaranteed salaries, your problem may not be the size of your incomes but the fact that you don't have a sufficient deposit. You'll need to have at least 8 - 10% of purchase price plus legal and valuation costs (around €2,000) saved as a deposit.
 
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