Applying for a mortgage, one partner unemployed?

[Marcs-Mrs]

I have a question about applying for a mortgage when one partner is unemployed.

I have just received inheritance which has given us a deposit of €28k
My husband is working full-time but I am unemployed. He earns around 30k per year & I am currently on job seekers.

Im wondering does that effect us applying for a mortgage? We are looking at houses in & around the €160 - 170k mark, which we can well afford to pay back on.

Any advice would be helpful, we are first time buyers & a bit lost with it all to be honest!

Thanks

 

[niceoneted]

Have you any debts/loans owed.
Have you any other savings other than the inheritance.
I would save save save as much as you can.
You will only truly know what a bank will offer to lend you if you apply as each case is taken on an individual basis.
What is the likelyhood of you finding employment soon. Does your husband have the capacity of increasing his wage with his job in the future?

 

[NorfBank]

Im wondering does that effect us applying for a mortgage? We are looking at houses in & around the €160 - 170k mark, which we can well afford to pay back on.
Thanks

It won't affect your mortgage application but the case will be underwritten solely on your husband's income.

Can you prove you can afford to pay it back through current rental being paid and/or savings? Is there evidence of this from your bank statements? This is what the lenders are most interested in.

www.moneybackmortgages.ie