New mortgages

There are many criteria that a lender applies when assessing your mortgage and they must comply with Central Bank lending guidelines around how many multiples of income you can comfortably borrow. A lender has its own net income test and criteria that they also refer to. Some lenders will allow up to 5 points up on your salary scale and some lenders will allow more of your premium payments, bonuses and overtime. Some lenders will lend up to 5 times your combined income as an exception to Central Bank Guidelines. We can guide you through the different criteria and advise you of your options and likely loan amounts.

A first time buyer will need a 10% deposit and a second time buyer will need a 20% deposit. There are exemptions to these rules and we can advise you of your options in that regard.

We will require income, banking and identification documents however we will provide you with a full list of documents and a secure facility to upload all of your documents. Our portal is very intuitive and creates bespoke requirements per applicant so that the process could not be simpler for you.

You will need mortgage protection and we can advise you as to your options as we also deal with all life assurance providers. We recommend that we propose you for mortgage protection with one of our life company providers at the same time that we submit your mortgage application. This is to ensure that you can get this life cover because without the availability of life cover/mortgage protection most lenders will not take the applicants income into account for mortgage purposes.

We recommend that you have your approval in place before looking for a home to purchase. You may be asked for proof of approval by the selling agent when you view the property at the outset and some estate agents wont show a property to a buyer unless they have evidence of loan approval in principal.