We are in the process of buying a house (Value 265,000) and have started looking for a mortgage of 150,000 over 15 years which would work out at 1000 approx a month. The rest of the money we have as savings/investments (€80,000) and the rest being gifted by both our parents. My wife stays at home and looks after the kids and my salary is approx 45K a year and my wife brings in about 400-600 a month approx through childrens allowance and her curtain making she does on the side.
We were turned down initially because they said that We could afford the repayments and that I was not in permanent employment (Im on a 2 year rolling contract with state utility, nobody employed less that 4 years ago in permenant). ...