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.