Mortgage Qualifying Amount

J

jello1000

Guest
Hi All,

I am seeking some advice regarding my mortgage application. I am planning to take out a mortgage towards the end of the year, after October '05 but should be before January '06. The value of the property is €288k, deposit of €8k already paid. I am wondering what amount of a loan would be advanced to me. Some further details follow,

Salary €45000
SSIA maxed - maturing April/May '06
No debts, credit card or otherwise.
Savings currently €40000 (excluding SSIA).

When I signed last year I got approval for €215k. I am looking to achieve a higher approval as I am reluctant to divert all savings to make up the shortfall between loan & value. Is there anything I can do to present my case for a higher loan. My target would be €260k (just below 92%).

I am also planning to avail of the 'rent a room' scheme.

Thanks in advance

Regards,
 
Jello,
I reckon I can get that for you - at a rate of about 3.2%
if you want info, please pm me!
 
Re: mortgages

Rose, this person is seeking to buy a house. They want a mortgage. Did you really think that posting those links would put them off or something?

It might be an idea to keep this sort of thing to the approriate post - like the thread in the Great Financial Debates or the one in Property Investment and let people here discuss what they came to discuss...namely mortgages and questions concerning house purchases.
 
Hi,

Thank you for your replies.

Sarah,

You mention a 30 year term you qualify me for €245K, would a 35 or 40, (I think this term may be allowable by Ulster Bank), term achieve a higher amount?

Thanks again

Regards.
 
You must log in or register to reply here.
Back
Top