Who qualifies as a young professional for 100% mortgages?

[brokeagain]

AIB are offering 100% mortgages to young professionals. Would two software developers with an income of 80K (two salaries combined) qualify as young professionals??

Please don't start preaching about the cons of 100% mortgages as I know that it makes more sence to save for a deposit but I am just curious.

 

[truthseeker]

According to their website:

**A key criterion for qualifying for 100% finance is the potential for an increase in income over the short to medium term i.e. salary currently c EUR30,000 with potential to increase to cEUR65,000 within 3-5 years.

Do you think thats likely as a software developer?

 

[brokeagain]

Wow, that's a jump of 35K!! I don't think that is likely to happen!
I wonder do they have a minimum salary qualification..ie must earn 60K or above??

 

[plant43]

I think "professional" might refer more to the type of employment rather than the salary. Examples of "professional" jobs would be: lawyer, doctor, garda etc.

 

[plant43]

Actually there's a list on their website

Typical professionals include:

Medical: Doctors, Dentists, Vets etc.

Legal: Solicitors, Lawyers, Barristers etc.

Banking & Financial: Accountants, Actuaries, Audit/Tax Managers etc.

Other: Architects, Civil/Structural Engineers