Securing a Morgage-Husband/Wife

My question is about applying for a mortgage.

I bought an apartment in Dublin at the height of boom so I’m currently in a huge amount of negative equity. I recently got married and my husband and I are hoping to buy a house in the next year. He hasn’t got an exisiting mortgage or any outstanding debt. The only issue is that he earns significantly less than me- he’s on c.35K a year gross. We are saving hard and are hoping to have about 80K for a deposit- 30K of my previous savings and 40K (majority of this is his savings as I pay the current mortgage myself) which we have saved ourselves along with a small gift from parents. We plan on looking for a mortgage of c.150k to buy a house valued at about 230K. I am just wondering if you think that he would have a good chance of securing the mortgage on his own? My worry is that if we have to be jointly assessed we will be refused as I currently have a mortgage. I am thinking about going to my bank to discuss the situation to see if they have any advice as to what we should be doing over the next year to improve our chances.

Any advice you have on this would be much appreciated as am really stressing about getting a house.

It is fairly usual for a lender to assess married couples jointly, I certainly know some insist that once the applicant is married then the spouse must be a joint party to the mortgage.

My partner was on slightly over €35k and was approved for something like €180. You'll have a huge deposit and lower LTV, so unless there's any financial skeletons, I would imagine those figures are well do-able.

So the unknown quantity is your previous property, and whether your marriage will have to be taken into account. I would definitely not talk to the bank - go for a broker, lawyer, ANYONE but the bank. They are not and will never be on your side, and there may be no need to tell them information that could work against you.

You could try [broken link removed] - I dealt with this guy last year and found him to be extremely quick, friendly, and so full of integrity that he eventually advised us not to employ his services (long story but because of our situation we got a better deal elsewhere).

leonmahon said:

My partner was on slightly over €35k and was approved for something like €180. You'll have a huge deposit and lower LTV, so unless there's any financial skeletons, I would imagine those figures are well do-able.

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That is over 5 times gross. What bank was that out of curiosity?