How much will we be able to borrow?

Hi, we're first time buyers, married in our mid 30s, have 50k saved up for a deposit and have a joint income of 120k with no loans or other debts. Are banks lending or will we need to keep saving more for a deposit? Anyone know what we will be able to borrow? Thanks!

Take home 6650
*Rent 1200
Saving 2800

If salaries and roughly equal and €120,000 is combined basic salary (not including commissions, overtime, bonuses or other non-guaranteed elements) AND rent & savings can be evidenced for at least a year or so, a mortgage of >€500,000 should be possible.

That said, if you can find a property that you would like as your home for less, I'd recommend that you borrow less. Just because you could borrow €500,000 it doesn't follow that you should. Factor in the possibility that one of you might not be earning in the future, look at job security etc.

Liam D. Ferguson

Thanks for your reply Liam, yes definitely we would be cautious in these matters and not borrow the maximum amount possible.