mortgage meeting questions

S

sillyaboutmo

Registered User
Messages
94
hi All,
I have a meeting with a mortgage adviser(MA) in BOI on Monday and i have 2 questions for yous.

*MY wife is on disability and has 2 chronic illnesses, when we saw the MA b4 she mentioned that my wife should get a pt job to bring our income up a bit. should we mention she is ill or keep stum. will it effect our chances in any way?

*Do you have to have a house in mind to apply for a mortgage. we are really looking to see how much we'll get. how do we go about it. can we just ask or do we need to nominate a house?

Thanks in advance
Mo
 
You don't need to have a house in mind you can get approval in principal.

Just a thought, are the illnesses something that would stop her getting life assurance which would stop you gettin a mortgage. Not trying to pry just something to think to yourself
 
I dont know and you are not allowed to talk about medical things in this forum so i cant say what it is. how would you find something like that out. Its not going to kill her its just never going away.

anyway should we keep stum about the illnesses?


mo
 

Hi silly

The ban on discussing medical issues is about asking for and giving medical advice. There is no harm in saying "My wife has x itis, will it affect her getting a mortgage"

I will update the posting guidelines to clarify this.

Brendan
 
Thanks for clearing that up Brendan,

Ok so my wife has ulcerative colitis and chronic pancreatitis, will this affect our chances of a mortgage?

MO
 
sillyaboutmo said:
we are really looking to see how much we'll get.
Click to expand...

You need to work out how much you can afford to repay and base your application on that. Many people are in trouble today because they assumed that bank knew exactly what they could afford and lent based on that. Banks never had that level of detail.
 
well we've been paying 560 rent for the past 1o yrs and its been coming out of our ac the past 2 yrs.
anyone know what 560 pm equates to in mortgage

Mo
 
EBS have an afforability and a repayment [broken link removed]. These will give you broad idea of what you can borrow. It will be impacted by your age, earnings, job security, amount of savings/deposit, type of property and other factors
 
Your wife's illness should not in itself affect your ability to get a mortgage providing your income qualifies you, it may however make it difficult or expensive to get mortgage protection cover, make sure the lender you go with is willing to let you sign a waiver if this circumstance occurs. Some do, some don't.
 
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