Advice on chances of mortgage?


I was looking for an advice on my prospects to buy,
I am a FTB but my other half bought an apartment the year before last. The outstanding payments on the mortgage is 125K. This property is rented so this covers the mortgage.

We are both employed (mid 20s) (80K in salary between us) (partner works in public sector - job definitely safe, my job is assured for definite for at least 3 years) - no kids
We have savings of over 30K and growing.
We are looking to buy in an area like Naas 3-4 bed house maybe at the end of the year.

What are the chances of getting a mortgage with that extra property that we want to hold on to? what advice would you give?

Many Thanks


heres some advice if ur thinking of buying - stay away from here :slight_smile:

seriously , people here will put the frighteners on you.

Sell the rented house and save as much as possible 'till the end of the year and then look around.
Who knows how much further south prices will be by then, the lower your loan to value the better chance you have of getting a good mortgage. … tml?via=mr

Unless it’s less than half the 2006 price don’t go near the property market. The property crash is only getting started.

Keep saving. This market has a lot further to drop.

So your partner has an apartment but you live somewhere else? Can you clear that up? Is it a one bed apartment and where is it?
Why Naas as a matter of interest? Are your jobs in Naas? If your partner has a 1 bed apartment then that will be seen as a liability I would think. Your partner no longer has FTB status either. Give us a bit more info.
As an aside, if you are both only mid twenties then why do you want to buy now?

2Gaffs if you’re not going to be constructive you might as well say nothing. These types of contributions are tantamount to trolling and real candidates for deletion.


Have a read of the site and I think it will become clear what to do.

[mod remove dangerous advice]

I would say Rent in Naas - do not buy at the moment - not for another year. I have not the time to analise your situation properly. Only you can make an informed decision - as it is different for everyone. Your job and hers sound to be in excellent shape - prospects look very good for you - much more than most. good luck.

Did jeff advise op to stick his head in the oven?

Thanks for the replies

We have been looking at Naas for a while, she is from Carlow, me Wicklow so it is a good half way point and Naas looks a very nice destination and we have our heart set on it. We were looking at a 4 bed that is priced around €300,000-€310,000 at the moment that may need a small bit of work. I am just checking to see would a bank loan us say €220,000 the money given she already owns an apartment. I know there may be a bit more time to go before prices fall this low.

Just to answer a few questions, she is renting the apartment in carlow. Like a lot of people my age, we have not been able to buy property the past few years due to excessive and ridiculous house prices. All that has been on offer the past few years is stupid affordable houses offers that i would never buy into.

You should really postpone buying for another 12 months. House prices are still 30%-40% overvalued.

:laughing: Freudian slip there. I think this part of the anatomy also popped into my sub-conscious when I contemplated someone considering buying in the current market.

Of course, this depends on the OP being well-informed. Do have a good look around the forum, OP. Best of luck.

Dude… have a look around you … banks are collapsing , regulators quitting, banks chiefs being fired (ish), developers going bust, developers offering free cars to buy their house, jobs losses hemoraghing, unemployment escalating, Arsenal 5th in the league, politicinas jumping ship, international markets in turmoil … do you really think that this is a good time to buy …

You say your saving … well thats your problem solved , wait 12 months as others have suggestd, but at least wait 6 months till teh above mess gets cleared up.
I would defintiely recommend having the kids, they are great, 38 is a fine age to start, and dont let the fact your renting put you off, been there done that, kids dont care if your renting they just glad they have our company during the day cos your not commuting endless hours to make ends meet to pay off some mortgage around your neck.

chillax for a while, tell you missus to just take a look at the paper headlines some day and see if she thinks its time for ye to take the plunge…
then take her off for a bit of jiggy jiggy to one of those hotels doing the good rates at the moment… let us all know in 9 months pink/blue and lets see if those houses in Bray are more in your reach.
Dangerous territory to go asking a bank about mortgage approval, before you know it youd have your name on a piece of paper and there be no turning back. Stay out of the bank for now…only 2 things in life get you in trouble one is your signature and the other we already discussed above
best of luck

Thanks for the advice,

only i am not 38, more 27 and i am not moving to Bray, i want to go out of Bray!(someone cross posted from my original)

I understand where you are coming from, i was thinking at least 9 months down the road!

Save and Upskill is the way to go from here!