How to get a reasonable mortgage value?

W

waqas95

New Member
Messages
1
Hi Everyone,

I am trying to get a good mortgage value but not successful up till now.

I am working in the public service sector in a permanent position. With my present salary, no bank is willing to give me a mortgage of more than 130k. I have three children and my wife is not working. I have also requested the Ireland Rebuild scheme, but they also refused as I am on Stamp-4.

Any advice or guideline in this matter, please?
 
Have you tried a broker?

Banks can give exceptions to the Central Bank's loan-to-income rules and a broker might be better able to sell this to a bank.
 
Its difficult to give any meaningful advice without further details. Your age & income for a start.

Based on no information other than number of children, I'd suggest talking to Ulster Bank, as they might be most favourable to your circumstances as they take Children's Allowance into consideration as income for stress testing repayment.

The rebuilding Ireland homeloan might be an option once you've a right to stay in the country indefinitely.
 
UB would be a good start as RedOnion pointed out - the child allowance being factored in could make a difference.

Apart from that Dilosk & Finance Ireland would be good lenders to apply to.

The reason being they'll work off a salary 2 points up the scale from where you currently are and, in Dilosk's case, take 100% of your overtime from 2020 if you have any.

I hope this helps.

justin.griffith@mortgagebrokers.ie
 
Fahrenheit said:
Apart from that Dilosk & Finance Ireland would be good lenders to apply to.

The reason being they'll work off a salary 2 points up the scale from where you currently are and, in Dilosk's case, take 100% of your overtime from 2020 if you have any.
Click to expand...
Excellent points. I keep forgetting about the way those lenders assess public sector salaries.
 
You must log in or register to reply here.
Back
Top