Anna and Chris Matthews
Need more room to accommodate their little ones
Anna and Chris have lived in their semi-detached house for four years, and are happy with the area, the distance to the shops and their neighbours and don't really want to have to move. But Anna and Chris also live with their 3 year old son Charlie and have just discovered that he'll have another brother or sister in a few months' time as Anna is expecting again.
"We love our house but the problem is it's just not big enough. Charlie's toys are already all over the place and in a few years we can see that our lovely home will be too cramped for us all to live comfortably. So we looked online with Bank of Ireland Mortgages to calculate how much we could borrow to look at larger houses within our budget."
We helped them to find a suitable mortgage that would take into account Anna's maternity leave and also allow them to increase their borrowing power to find a larger property for their expanding family. Taking a 3 year fixed rate mortgage is the solution to their current circumstances. It means that they can budget accurately at a time when money is tight.
Please note that the above case study is purely fictitious and for illustrative purposes only.