It may not be a coincidence that the lowest lending multiple and lowest rates go together, as the lender is taking a different level of risk.
Are they over different terms? E.g does KBC have until age 70?The salary multipliers we have been offered so far are
Ulster: 4x
AIB: 4.5x
BOI: 4.75x
PTSB: 4.89x
KBC: 6.14x
we are a married couple, no debt whatsoever, no dependents, and a combined salary of 90k.
It still seems to me that €540k is way too big a mortgage.
You might well have kids which would increase your expenses and probably lower your earning capacity.
People can lose their jobs. You might be very safe now, but over the next 35 years, there is a reasonable chance that you may have financial problems.
I assume you are two young professionals and they see your earnings rising.
But whatever way you look at it, that is too big a mortgage.
Especially when they will be unable to repossess if you stop paying.
Brendan
I honestly would have thought that it would be the other way around in that the lower the rate offered would lead to them being more comfortable offering a larger amount of money for the mortgage.
The salary multipliers we have been offered so far are
Ulster: 4x
AIB: 4.5x
BOI: 4.75x
PTSB: 4.89x
KBC: 6.14x
6x salary, wow, thought the days of banks giving multiples like that were long gone. Can I ask are you in jobs that have a high likelihood of substantial salary growth? For example if a couple were both junior doctors etc I could probably understand such a multiple but otherwise it seems extreme.
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