I'm on slightly over €45,000 per annum gross. My net pay is €1110 per fortnight/€555 per week/€28,860 per year. My rent is €500 per month/€6000 per annum. I have no debts whatsoever and I've never applied for a mortgage before. I am almost 41 years old, a full-time teacher being paid directly by the Department of Education, and I'm in possession of a Contract of Indefinite Duration/CID. I have several questions.
1) If I apply for a mortgage and am refused, will a record be kept of this application and could/would the rejection go against me in the event of my reapplying to a different financial institution? (Is there a central database to which all financial institutions have access?)
2) On the Mortgage Calculator on mortgages.ie it states "Civil servants may increase their salary by three grade points" First, do teachers (public servants) fall under what that website terms "civil servants"? Second, by "three grade points" do they mean my salary after the next three years of salary increments, or what precisely do they mean?
3) Given my above details, and that loan terms have changed since 2006, how much of a mortgage could I be offered in 2014?
1) If I apply for a mortgage and am refused, will a record be kept of this application and could/would the rejection go against me in the event of my reapplying to a different financial institution? (Is there a central database to which all financial institutions have access?)
2) On the Mortgage Calculator on mortgages.ie it states "Civil servants may increase their salary by three grade points" First, do teachers (public servants) fall under what that website terms "civil servants"? Second, by "three grade points" do they mean my salary after the next three years of salary increments, or what precisely do they mean?
3) Given my above details, and that loan terms have changed since 2006, how much of a mortgage could I be offered in 2014?