Pension affecting Mortgage

K

kelzer

Registered User
Messages
21
I pay into a PRSA Pension every month. Will this reduce the amount of mortgage I can get when I go to different lenders in terms of affordability?
 
it really depends how much of you net income you contirbuting.
If it a substantial portion, some banks may not give as much.

Generally though you should be fine.
 
You can stop/vary PRSA contributions at any time if making this contribution and eating into the net income available for mortgage repayments becomes a problem.
 
So any bank will generally not look unfavourably on me if I cancel my pension contributions to increase my net income?
 
Hi there, our broker was OK about us contrubiting max to our pensions - our take home pay being much less as a result - his reasoning was that we at any point could reduce what we pay to our pension and it is not a mandatory payment...
 
kelzer said:
So any bank will generally not look unfavourably on me if I cancel my pension contributions to increase my net income?
Click to expand...
No - they don't care other than about your ability to service the mortgage loan. Unless the pension is with them too but in that case it is probably a different section and the mortgage sales people won't care.
 
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