How much mortgage per month

S

summerflower

Guest
House €226,500 - new - includes tiling allowance, fitted presses, tiling allowance. Would also need to incorporate fitting it out.

I would be buying the house on my own and I am unsure how much I would need to kit it out.

I would be most greatful if somebody could fill me in on the hidden costs associated with mortgages/buying a new house. I have never purchased a property before have only ever rented.

Can you give me a detailed breakdown of exactly what I would be paying each month. I would like to incorporate mortgage protection as I don't know how stable my job is in the times of the recession.
 
Some costs with buying a house are
1)Solicitor fees
2)Life cover and home insurance are needed,have to be in place before you can draw down the mortgage.
3)Also budget for paint,furniture,couch,bed etc as you need these as soon as you move in.
4)Think about flooring,whats on the floors etc....carpets,wooden floors and what you need to get,you may need to pay someone to do these jobs for you.
 
summerflower said:
House €226,500 - new - includes tiling allowance, fitted presses, tiling allowance. Would also need to incorporate fitting it out.

I would be buying the house on my own and I am unsure how much I would need to kit it out.

I would be most greatful if somebody could fill me in on the hidden costs associated with mortgages/buying a new house. I have never purchased a property before have only ever rented.

Can you give me a detailed breakdown of exactly what I would be paying each month. I would like to incorporate mortgage protection as I don't know how stable my job is in the times of the recession.
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Once a bank is satisfied you can afford the mortgage, they will offer you 92% of the 226500 i.e 208380.
Over 35 years on a variable rate the repayments will be around 1120 per month before tax relief. As a first time buyer you will be entitled to tax relief of 208 per month bringing your repayment down to around 910 per month.
You will not be able to incorporate fitting it out into the mortgage. This will have to come from another source.
The other costs you have to be aware of are:
- valuation costs about 130
- legal fees would be around 2500 (open to correction here)
- mortgage protection - depends on health
- buildings insurance - depends on where house is - factor about E30 per month

Mortgage repayment protection that insures against redundancy will cost 5% of your mortgage repayment so E46 per month. There are many exclusions applied to such a policy so make sure to make yourself familiar with the terms and conditions.
 
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