Will we be approved for a mortgage??

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pigeon

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Will we get a mortgage approval based on this info?

Me and my husband have been in our jobs for 18months and 6mths consecutively. We are both permanent. Before this we were travelling for a year and moved from job to job willl this stop us getting a mortgage?

We have a site worth 135,000 and want to borrow 200,000 to build. The final value will be 350,000. We have no savings but have no bad credit or missed payments on our car loan of 15,000. Also we have been at our current address for 18mths before that we were living in the UK.

Does anyone know of these issues stopping a mortgage approval??
 
I can't see any problems, assuming you earn enough to fit the lenders criteria. The travelling's not a problem, the equity is there in the site (I presume this was gifted to you?) and you have no credit issues. If you could post your salary details, your ages and the monthly repayments on your car loan I can advise on your borrowing capacity.

Sarah

www.rea.ie
 
Thanks Sarah. I'm 23 he's 29 the site is in my name and yes it was gifted. I earn €22500 per annum he earns €30000. The car loan is in my name and the repayments are €308 per month over 60 months. I have no bad credit history and have never missed a payment.
 
I had to repay ALL my personal loans before they even looked at me for a considerably smaller sum then you are looking for, similar salaries..
 
Which bank/broker did you go through george and did you have a site worth 135,000?
 
Hi Pigeon,

Yes - even with the car loan remaining you qualify for up to €230,000 over a 30 (or 35) year term. Based on a tracker rate of 2.95% - this assumes that the final loan to value will be under 60% - your repayments over 30 years would be €838 excluding tax relief and insurances.

Sarah

www.rea.ie
 
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