Frequently Asked Questions
How much can you borrow for a mortgage?
As a general guide first time buyers applying for a mortgage can borrow a maximum of 3.5 times their salary. So for a single earner earning €35,000 per annum, the maximum you can borrow would be €122,500.
For two income application we combine both incomes so applicant one is earning €50,000 and the second applicant is earning €35,000 we have total earnings of €85,000 so we can borrow €85,000 x 3.5 = €297,500.
Things worth noting
Calls for cashback mortgages probe before State uses money to back Ulster Bank loans sale
22nd February 2021
The Government will need to launch an investigation into “the exploitation” of first-time homebuyers lured by cashback incentives before it commits taxpayers’ money into State-owned […]
“We nearly lost dream home because bank got jitters over wage subsidy”
15th February 2021
A leading bank was set to deny a couple a mortgage to buy their dream home, just as they were about to draw down the […]
First-time buyer in 2021? Here’s how to avoid rookie mistakes
29th January 2021
If you want to buy your first home this year, careful planning will be key to success. These guidelines will help get you across the […]
Mortgage lenders push back against automatic payment breaks during lockdown
8th January 2021
Mortgage lenders have pushed back against a call by a leading broker to re-introduce automatic payment breaks for people who will be unable to work […]
Demand for mortgage exemptions expected to surge this year
7th January 2021
APPLICATIONS for mortgage exceptions are expected to surge to record levels in January as lenders respond to pent-up demand from borrowers. Exemptions to the strict […]
Controversial equity release loans for older people are back
5th January 2021
An equity release provider is reopening in this market years after the banking crash closed off the availability of these loans. Equity release involves older […]
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