Hypervalve
Registered User
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My wife and I are mortgage approved first time buyers and planning on moving from Cork to Galway.
We were approved on the basis of our current permanent jobs and income in Cork. I have agreed working remotely with my employer, but this isn't an option for my wife.
We have just put a (refundable) booking deposit on a new build in Galway, which is scheduled to be completed in October.
My wife has lined up some opportunities, and we are fairly positive about her prospects, so we are planning on moving immediately and renting in the mean time as our current accommodation has some serious issues and is not suitable for our small family.
However we are worried when it comes to executing the mortgage at down payment stage that the bank may not approve due to changed circumstances. Repayments on my wage alone wouldn't be a concern, it would be tight but doable until my wife finds something.
Obviously we could explain all this to the bank, but not sure what kind of view they would take.
I'd appreciate any insight if anyone has had similar experience, this is new territory for us!
We were approved on the basis of our current permanent jobs and income in Cork. I have agreed working remotely with my employer, but this isn't an option for my wife.
We have just put a (refundable) booking deposit on a new build in Galway, which is scheduled to be completed in October.
My wife has lined up some opportunities, and we are fairly positive about her prospects, so we are planning on moving immediately and renting in the mean time as our current accommodation has some serious issues and is not suitable for our small family.
However we are worried when it comes to executing the mortgage at down payment stage that the bank may not approve due to changed circumstances. Repayments on my wage alone wouldn't be a concern, it would be tight but doable until my wife finds something.
Obviously we could explain all this to the bank, but not sure what kind of view they would take.
I'd appreciate any insight if anyone has had similar experience, this is new territory for us!