New to Ireland and want a mortgage

D

Domo

Registered User
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Hi,

I moved back to Dublin on 1 October 2005 following 20 years living in the UK.

Since I returned I have been doing full time contract work ( for 3 different companies/firms, one after the other), and for the past 14 months have only "signed on" for 2 weeks last January after Christmas while waiting to get new contract, otherwise working.

The current place where I am on a 6 month fixed term contract (up in mid Feb 2007) have indicated that there is a good possibility of my contract being extended or perhaps being made a permanent employee.

What is my position regarding getting a mortgage? Do I have to get permanent employment to apply? How long do I have to be a permanent employee? Can I get a mortgage if I just contract?

How are mortgages based on in ROI? I know what they do in the UK - x times salary and a formula for other income - I just know it is different here. How do they calculate what you can borrow?

Can anyone help with this please?
 
Was in a similar situation last year and was in contract work. Found it best to go through a broker who understood how flexible different lenders would be. Can recommend REA but there are other brokers out there too...
 
You should'nt have a problem getting a mortgage. What type of income are you/s earning?
 
Domo said:
How are mortgages based on in ROI? I know what they do in the UK - x times salary and a formula for other income - I just know it is different here. How do they calculate what you can borrow?

Can anyone help with this please?
Click to expand...
I don't know what the general rule is, but I was offered 4.25 X my annual salary. It was more than I could afford to repay!
 
i got a mortgage and im a contractor. I needed to have a full years accounts and a copy of a work contract and the broker sorted the rest.
 
Hi Envelope, what broker did you use? I have a friend in similar position. She works full time but as contractor and her husband works for dublin bus as a permanent employee. The broker they are using kept telling them no lender will give them a morgage untill she gets a permanent job but I didn't think that was right.
 
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