Your current income (which includes commission, bonuses, overtime – i.e. any additional money that is subject to tax) will determine how much you can borrow. Some lenders calculate borrowing ability by a straightforward multiple of your income while others will work out your net disposable income and then allow you borrow a percentage of that. There are many variables involved in calculating your approval amount, your best bet is to apply for Approval In Principle through your broker.
100% finance has recently been introduced by several leading mortgage lenders, which means therefore that a deposit is no longer required for First time buyers* and 100% of the entire purchase price can be arranged by Irish Mortgage Brokers.
(*) Subject to certain lending criteria, terms & conditions apply.