We're hoping to upgrade our home later this year and am starting to get mortgage ready. In order to get a mortgage we need to show savings of approx 800 in addition to our mortgage for 6 months which we can start doing from this month. I also have a loan of 2500euro which I want to clear. So I'm just wondering If I pay the 800 a month off the loan for 3 months and then start the saving, will this work as showing my ability to repay or will I need to show the 800pm after repaying the loan and therefore not be in the position to apply for 9 months?
Thanks
Thanks