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This is an essential question for banks to ask, although even a rough estimate is fine at the start. First, the bank needs to establish whether they will lend against the property at all (which they wouldn't do if the current mortgage balance was more than 90% of the market value). Second, the...

€250-€310 per child per month is typical I think Pepper might include this but I wouldn't look any further than Ulster Bank if you can qualify with them, as their fixed rates are among the most competitive in the market. Yes. All he needs is a salary cert to verify his current income. The bank...

The likely rental income will be taken into account, but will be discounted by between 30%-50% (depending on the bank), to allow for taxes and other costs. Your current mortgage repayments will then be stressed by increasing the rate by 2%, or even more by some banks, which assess the mortgage...

There might be a possibility of getting a mortgage on a rental property instead, but no banks will lend against a family home if there is no income from employment to sustain the repayments for the proposed mortgage term. Best regards, Dave Curry (broker) https://www.linkedin.com/in/davecurryirl

Yes, as RedOnion said. Just make sure to take a variable rate on at least the portion of the new mortgage that you intend to clear, to avoid paying an early redemption penalty that would be charged on a fixed rate. Best regards, Dave Curry (broker) https://www.linkedin.com/in/davecurryirl

None of the above. The loan to income calculation is based solely on your income from employment. There is a separate calculation for how your other mortgage and rental income affect the overall affordability, whereby your mortgage repayments are stressed at 2% above the current rate, and your...

You wouldn't need to be in the PAYE job for a year - being permanent and past probation (usually 6 months) should be enough. I don't fully follow your question about exceptions but hopefully this answers it: Every bank has a quota of exceptions to the 3.5 times income limit - up to 20% of total...

The banks won't take any income into account for you until you have two full years of historical tax returns, i.e. January 2021 at the earliest, in your case. This is how self-employed applicants are assessed, as the income is by its nature variable and higher risk (whereas a guaranteed salary...

In that case it should be sufficient to provide a statement for the savings bond at maturity. He can then explain that some of the proceeds were spent on a car and the remainder was lodged to his account.

Some banks will release such a (relatively) small amount without needing it to be vouched. Others are happy to lend an amount in that region for proposed works (i.e. estimates), and they don't verify that the works are completed. Others again are happy to repay a family loan, and don't look for...

Only one bank currently asks for a statement from the donor, as far as I am aware (if it's more than one, it's certainly in the large minority). As an aside, I'm not sure how they can even demand this, considering that the donor is not party to the loan and has not signed any documentation...

You could try that route but the funds from parents would have to be declared as a gift, not a loan. You may not have to resort to that option, though. If you don't need to borrow close to the maximum amount that your combined incomes would allow, then some of the banks would be happy to approve...

If you want to borrow these funds through a mortgage, you would need to switch your mortgage to a new lender and add €15-20k to the mortgage balance to be cleared. It would help if you could provide receipts for works carried out, but the amount is small enough that some banks wouldn't even need...

I just spoke to someone from one of the banks about this. He said that the mortgage/cheque should be cancelled without any breakage fees for the fixed rate. Your solicitor can just explain what happened and there should be no problem. Shocking behaviour by the vendor, though, and it also shows...

Your approval in principle will only last for 6 months, after which you would need to start the application process again. If you can maintain your finances in very good order for the coming months, I would recommend waiting to apply until much closer to the time that you are planning to put...

Most would overlook that, as long as the credit agreement came to an end (whether cleared or some/all written off). He probably has a bad internal grade with the bank that lost money, which would likely mean that he would be declined by that bank, but other than that I don't see any issue.

In that instance, the debt would remain on the credit report until it was cleared or written off. Then it would remain for 5 years from the date of closure.

It's possible with Pepper and ICS mortgages (edit: but not with your bank - none of the mainstream banks offer this). There are various nuances and intricacies (e.g. property locations, rental cover ratio, which lender the house purchase loan is with, etc.) but the short answer is yes. Best...

The banks ask applicants to make a disclosure on the application form similar to the following: "Have you ever been made bankrupt, made any arrangements with creditors, had any court judgements for debt made against you or been in arrears with any existing or previous loan?" However, even if...

I'll refer OP the same advice as I gave to another poster here about always going for the best long-term value, as you might be stuck with the first bank: https://www.askaboutmoney.com/threads/ebs-or-ulster-bank-for-2-year-fixed.209203/#post-1578504 One other thing to add: the lower the...