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How Much Can I Borrow?
Please Note: The credit crunch has changed the mortgage market considerably. Lending criteria varies from one lender to the next. As a result, we recommend you speak to a mortgage consultant to discuss your personal circumstances.
But First, Please Read This Important Note:
There are lots of variables involved in calculating your approval amount (such as outgoings, loan commitments, age, breakdown of your income into basic, overtime, bonuses etc), so I'd highly recommend that you get approval in principle before you do anything else.
Here's two examples of things that can significantly effect what you can borrow:
- A €400 per month car loan can reduce what you can borrow by over €65,000.
- Some lenders will only take 10 - 20% of overtime, bonus or commission into account when working out what you can borrow (other lenders may not consider bonus or commission at all), so if they make up part of your income, it's vital to speak to a mortgage professional.
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