Whats needed to get Mortagage and how much can I borro

[kingspoofer]

Hello,
What details would I need for bank/broker in order to get a mortgage?
Have my own site going building a 2000 sqft house have 35k in savings and expect to be getting a loan of around 170k and earn 40k a year gross.How do i go about getting it just ring one up or call into my bank.Job is safe enough well safe as things could be in the current climate.Would appreciate any advise.Would I have any problems getting this loan?

 

[Brendan Burgess]

Re: Mortagage

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[callaghanj]

Re: Mortagage

For AIB i needed 3 months bank statements and last 3 wage slips along with proof of deposit ie savings. Mortgage processed in a matter of days...within the week.

 

[LDFerguson]

Have a look at the best buys section here on Askaboutmoney as your own bank might or might not have the best deal.

 

[Grace80]

Re: Mortagage

For AIB i needed 3 months bank statements and last 3 wage slips along with proof of deposit ie savings. Mortgage processed in a matter of days...within the week.

Along with the above, you will also need a salary cert from your employer (stating if permanent, wages, bonus etc).

As your proposal is a self build deal, it is slightly more complicated than gaining approval for an outright property purchase.
You will more than likely have to provide -
-proof that full planning permission is in place
-a fixed price contract from your builder (ie a contract that states the build will cost no more than the sum quoted)
-detailed costings for the build (and by detailed they mean DETAILED!)

If you do get approval, you will not be able to drawdown the full amount in one lump sum. The bank will only issue the funds in stages and these will have to be against architects certs.