this doesn't add up.

[waider]

Possibly available in my area soon: "affordable" two-bedroom apartments. The thing is, the reduced price for these will be €300,000; the scheme is only open to people earning up to €55,000 (or €75,000 for couples) but according to the last article I read on the topic (and my out-of-date understanding of the Central Bank's guidelines to lenders), you need to be earning about €75,000 to €100,000 to get a €300,000 mortgage in the first place.

Comments

[waidesworld.livejournal.com]

I laugh at what you "have to be making in order to merit a loan" ratios. Basically they conduct a three day interview to calculate how long you can survive on bread and water before succumbing to a feed of pints. It has nothing to do with your income rather the clothes you pick for this mini vacation. They also observe your attitude towards missing work and other worldly contacts.

When all is said and done they then proceed to offer you a mortgage (pre qualify you) that you haven't a hope of ever getting on top of.

To emerge from this mess, buy a house in an upcoming area e.g. Achill Head and wait three generations before selling it so you have enough for a down payment on a Southside Dublin Flat.

[niallm.livejournal.com]

Insane.