Mortgage - How much ?

[deesmith]

Hey,

We want to apply for a mortgage and not sure exactly where we stand - basically between us we have a site worth between 150-200, we recently started earning about 75k between us p.a. We owe 2k on credit card and 2.5k on another loan and about 6k for car. We have no savings and my account has always been about 1k in over draft. Anyone any advise on where we are at? will we get a mortgage? 100% of build?

 

[Sarah W]

Re: Mortgages

How recently did you start earning €75,000 between you? You'll need a minimum of 12 months employment history and will need to have completed any probationary period(s) before drawing down the mortgage. Given your current debts and lack of savings you might be wise to clear these first.

Sarah

www.rea.ie

 

[Margareth]

Re: Mortgages

I am not too sure about the need of being out probationary period, as I got a mortgage being only 2,5 month in employment.
Job was in line with former job though.

 

[johnnyg]

Re: Mortgages

i went contracting for myself and still got a mortgage of 375K, the bank usually looks at the circumstances, from my experience,its best to talk to your local bank mortgage advisor, go to all the local banks and let each of them know that you are shopping around, as they might offen back your application where as brokers only forward on the documents, having filled out the banks criteria ie you have to clear all your debts etc..rubbish, if you have a good income and good prospects, you will get a mortgage, even if you have a cor loan and a credit card bill..