R
RosieP
Guest
Hi All
Are there any lenders who will loan more than the normal 35-40% of net income? I have a good savings record (in addition to paying my current mortgage I’ve been saving around 30% of my net income per month) and have no outstanding loans.
I’m looking to trade up to a property with a purchase price of €380,000. I have €100k equity from my current property and would also have savings to cover the stamp duty, fees and around €30k to put towards the revised mortgage. I would also be willing to rent a room if this would increase the amount I could borrow.
Based on my (rough!) calculations I need a revised mortgage amount of €250,000 (purchase price €380,000 - €100,000 equity - €30,000 savings) but my current lender is unwilling to stretch to this amount as the amount is above their X times salary / % net income criteria - my salary is €38,000.
Any advice gratefully accepted!!
Are there any lenders who will loan more than the normal 35-40% of net income? I have a good savings record (in addition to paying my current mortgage I’ve been saving around 30% of my net income per month) and have no outstanding loans.
I’m looking to trade up to a property with a purchase price of €380,000. I have €100k equity from my current property and would also have savings to cover the stamp duty, fees and around €30k to put towards the revised mortgage. I would also be willing to rent a room if this would increase the amount I could borrow.
Based on my (rough!) calculations I need a revised mortgage amount of €250,000 (purchase price €380,000 - €100,000 equity - €30,000 savings) but my current lender is unwilling to stretch to this amount as the amount is above their X times salary / % net income criteria - my salary is €38,000.
Any advice gratefully accepted!!