Approval for mortgage based on payment history.

[ali]

I have been offered a job outside Dublin and have looked at a house I would like to buy. I would not move or take the job without the house purchase. However I don't think I would qualify for the mortgage as they are now so difficult to get. (My husband is self employed and my job would be new). The new mortgage would be roughly half the size of my current one. I have never in 18 years as a home owner missed a payment and I have 8 years perfect payment history on my current large mortgage despite having had some serious hardship at various times.

My question is : Do the EBS or others take into account a perfect payment record of a larger amount than the amount required as part of an application? Or is it simply income amount, payslips P60's etc.

Thanks,

A.

 

[mf1]

You can always ask but............I suspect not.

Plus, unless you sell your current house, would'nt you be servicing two mortgages?

Would it not be better to lose this "I would not move or take the job without the house purchase" pre-requisite and take a different approach?

As in, do I want this new job, does it improve/enhance my life, is it a real possibility or not especially given the current economic climate? What would I have to do to make it worthwhile?

mf

 

[ali]

You can always ask but............I suspect not.

Plus, unless you sell your current house, would'nt you be servicing two mortgages?

Would it not be better to lose this "I would not move or take the job without the house purchase" pre-requisite and take a different approach?

As in, do I want this new job, does it improve/enhance my life, is it a real possibility or not especially given the current economic climate? What would I have to do to make it worthwhile?

mf

My brother is buying my house. He is renting and has been waiting for me to find the house I want. The house is the reason I would be moving, the job is just the means to getting it / paying for it and so is secondary. Really want the house but find myself in the position that I wouldn't under current criteria qualify for the mortgage I actually have even though I pay it. The new mortgage would be halfish what I owe now so I would be in the house I want for half of what I owe in my current house and the LTV would be approx 45%.

But I don't think I'd get it based on a current application; it's a bit ironic.

A.