R
rmelly
Guest
Hi,
I'll be seeking mortgage approval in near future, am single buyer with no debts. From what I have read, salary is not so much the deciding factor to what you can borrow now, but the ability to repay based on current and future proofed rate - i.e. repayments shouldn't exceed ~ 35% of net monthly salary.
I currently pay 12.5% AVC from salary (higher rate tax, standard employee PRSI etc.) and was wondering what impact this will have on how much I can borrow.
How far back will I need to show payslips when getting approval? May consider reducing the %, then reverting and adding lump sum when approval granted - is there anything to say I can't do this - e.g. clauses in mortgage contract, requirement to notify bank of change in circumstances etc.
I'll be seeking mortgage approval in near future, am single buyer with no debts. From what I have read, salary is not so much the deciding factor to what you can borrow now, but the ability to repay based on current and future proofed rate - i.e. repayments shouldn't exceed ~ 35% of net monthly salary.
I currently pay 12.5% AVC from salary (higher rate tax, standard employee PRSI etc.) and was wondering what impact this will have on how much I can borrow.
How far back will I need to show payslips when getting approval? May consider reducing the %, then reverting and adding lump sum when approval granted - is there anything to say I can't do this - e.g. clauses in mortgage contract, requirement to notify bank of change in circumstances etc.