Maintaining affordability for a mortgage extension
I'm sale agreed (on my own) for a €375,000, 2-bed apartment. €30,000 Help to Buy is on its way to the developer. My salary is €65,000 and I got a mortgage exception for a mortgage of €320,000.
My loan offer is due to expire June 9th. I am hoping to get a snagging date for the week of May 25th. I've notified my broker that I will need an extension on the loan offer, all good there.
I just want to get some insight on what affordability looks like for me up until drawdown. I've been putting away €2,000 over the last 18 months (thanks to living at home). My mortgage repayment will be €1,249.45 for the first 48 months. €1,427.16 thereafter. I put away €1,500 for the month of April. Is this still meeting my affordability, taking into account stress testing etc.
