hi all,
having read though the posts here, I'm getting the idea that banks/lending institutions might be willing to lend you more than a salary multiple if you can prove what you can pay out?
What I mean is this: at present, my partner and I are paying 750 euro a month rent. I am saving a further 370 each month, direct debit in to credit union. I have just under 5k in credit union. Partner is self employed/contracting, and managed to save approx. 17k in the last 12 months. Right now he is between contracts, with his last one ended 2 weeks ago and nothing definite in the pipeline. However, there are 3/4 possible contracts coming up in the next month or so.
My question is if we can prove to the bank that we are able to pay out over 1,000 euro a month between the two of us, as we have been doing for almost a year now, what is the most they would lend us? My salary is just 25k so no question of buying on my own.
thanks very much.
having read though the posts here, I'm getting the idea that banks/lending institutions might be willing to lend you more than a salary multiple if you can prove what you can pay out?
What I mean is this: at present, my partner and I are paying 750 euro a month rent. I am saving a further 370 each month, direct debit in to credit union. I have just under 5k in credit union. Partner is self employed/contracting, and managed to save approx. 17k in the last 12 months. Right now he is between contracts, with his last one ended 2 weeks ago and nothing definite in the pipeline. However, there are 3/4 possible contracts coming up in the next month or so.
My question is if we can prove to the bank that we are able to pay out over 1,000 euro a month between the two of us, as we have been doing for almost a year now, what is the most they would lend us? My salary is just 25k so no question of buying on my own.
thanks very much.