Mortgages
Mortgage Approval Criteria in Ireland
With years of experience in the mortgage industry, I'm committed to helping you navigate the often-complex mortgage process with ease. As your trusted mortgage broker, I don’t just send your financial information to lenders—I take the time to personally assess all of your financial details to ensure everything is in order before it's presented to the mortgage provider.
By carefully reviewing your income, expenses, credit history, and other financial factors, I can identify any potential issues that might affect your mortgage application. My hands-on approach means you have a stronger chance of approval, giving you peace of mind and the best opportunity to secure the mortgage you need.
Whether you're a first-time buyer, moving home, or considering a buy-to-let investment, I offer personalized attention every step of the way. I work closely with you to ensure your application is presented in the best possible light to lenders, increasing your chances of
success.
Let me guide you through the process and help you secure the mortgage that’s right for you. Contact me today for a consultation, and let's take the first step toward achieving your property goals with confidence. As a mortgage Broker I can access to 2 mortgage providers ICS and Finance Ireland.
The benefit of having a mortgage broker
I can assess all your financial information before the finances are shown to the mortgage provider. This way we can assess if there is anything that will inhibit you getting a mortgage.
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To get approved for a mortgage in Ireland, the following factors are essential:
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Secure Income: Stable employment with a permanent contract is typically required. Contractors with continuous work for at least one year may also be considered.
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Affordability: You must prove that you can afford the repayments even if interest rates rise by 2%. Lenders expect to see a strong history of managing finances and regular savings.
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Deposit:
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First-time Buyers: Must have 10% of the house price, plus 3% for costs.
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Second-time Buyers: Need 20% of the purchase price.
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Lenders prefer to see savings accumulated over a two-year period, although gifts from family members are sometimes allowed.
4. Financial Management: Good financial habits, such as regular savings, clearing personal debt, and avoiding online gambling, are important to lenders.
5. Credit Rating: A positive credit history, including timely loan repayments, is crucial. A missed payment in the last two years could result in mortgage rejection.
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Maximum Mortgage Limit
New rules limit your mortgage to 4 times your gross annual income. Exemptions are available depending on the lender, and multiple exemptions increase your chances of approval.
Moving Home
If you're moving home, getting the right mortgage advice is important. Anchor Life & Pensions Ltd. can help with the process, whether you plan to sell or keep your existing home as a rental.
Buy-to-Let
Buy-to-let mortgages are for purchasing investment properties. It's important to choose a good location where the property can be easily rented out. Rent income helps pay the mortgage and can provide retirement income. Whether you're a first-time investor or experienced, seeking mortgage advice is key to ensuring the right investment.
