Not sure if this is in the right section. Apologies if not.
Current mortgage balance €250k no arrears.
Equity in home €110k
We plan to trade up but the new build has become available 6 months earlier than expected
We will require mortgage of up to €270k
We have absolutely no savings
Partner is in permanent full time employment
I have just returned to my permanent part time job after a 3 year leave of absence
We are clearing credit card & can save from January
No other outstanding loans
Is there any chance we would be eligible for a new mortgage or would we be automatically rejected?
Also can we use equity on existing home for 10% deposit when signing?
Current mortgage balance €250k no arrears.
Equity in home €110k
We plan to trade up but the new build has become available 6 months earlier than expected
We will require mortgage of up to €270k
We have absolutely no savings
Partner is in permanent full time employment
I have just returned to my permanent part time job after a 3 year leave of absence
We are clearing credit card & can save from January
No other outstanding loans
Is there any chance we would be eligible for a new mortgage or would we be automatically rejected?
Also can we use equity on existing home for 10% deposit when signing?
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