Your personal finance questions – We earn €97,000 plus a bonus and have a €60,000 deposit. Can we afford to buy a house?

Q I am a teacher with a salary of €47,000. My husband, who works in tech in the private sector, earns €50,000 a year and can earn an annual bonus of up to 20pc of his salary, but it’s not guaranteed. Even though we are paying rent, we manage to save €2,000 per month and have saved a deposit of €60,000. We have a car loan that costs €400 per month. We clear our credit cards and overdrafts monthly. We spotted a house in Crumlin for €435,000. Can we borrow enough?

A Joey Sheahan, head of credit at MyMortgages.ie and author of The Mortgage Coach, says you could easily carry the €400 monthly loan repayment. If you are currently renting and can afford to buy now, then it’s probably a good time because rents are so high and your mortgage repayments will, most likely, be lower than the rental payments.

Source: https://www.independent.ie/business/personal-finance/your-personal-finance-questions-we-earn-97000-plus-a-bonus-and-have-a-60000-deposit-can-we-afford-to-buy-a-house-41071189.html