Another mortgage enquiry!

Hi I know this is asked a lot but I'm wondering if anyone could help me. I'm a 24 year old man. In a government job, my probationary period will be up in a month (one year probation) and I am hoping to buy me first home soon after. I have cleared all my debts, and am currently earning 28000 a year (basic pay). I have some savings which I can increase if neccessary but they are currently 22,000. I am hoping to buy a home for about 225,000. I will have a spare room if I could get a mortgage this size ( would cover a three bedroom semi-detached where I want to buy). I've tried the online calculators which say that the most I could borrow is 120,000. Anyone know If I could possibly borrow more then this? If not how can I improve my chances of getting a bigger mortgage. I cannot get a guarantor, and I don't want to buy with anyone else as I am engaged (however my fiancee has only started to work recently after finishing college and would not earn much 18000). Any help appreciated.

On your own and with room rental your max. is going to be circa €180,000. Jointly however you'd qualify for up to €260,000 so it looks like this would be the best route for you to follow.

Sarah

www.rea.ie

If we were to buy together how long would she have to be in employment. So far she has only been working 3 months would this be a problem?

Sarah is correct. Dont think the 3 months should be a problem. Your savigs of €22k would be impressive. This would be an important part of a case being presented.

This is the first and only time that both sets of parents will dole out wads of cash without strings. I would not hesitate to leverage this route. Your parents and your g/f parents will be only too happy to 'help' you along.

As long as any probationary period has elapsed prior to the mortgage being drawn down there is no minimum employment period (apart from 100% mortgages).

Sarah

www.rea.ie