WHO CAN WE HELP?
- First time buyers
First time buyers can borrow up to 90% of the purchase price, subject to meeting all other normal lending criteria, as opposed to 80% for non-first time buyers.
Purchase Price 90% Mortgage Amount 10% Deposit Required
€150,000 €135,000 €15,000
€220,000 €198,000 €22,000
€300,000 €270,000 €30,000
€500,000 €450,000 €50,000
Generally speaking, the max amount, you can borrow is 3.5x your gross salary, however there may be exceptions to this rule and we work closely with mortgage lenders to get more for our clients if required.
If you currently have a tracker mortgage, there is no merit in switching. However, if you have a variable rate mortgage there could be significant savings in switching from your existing lender and in addition many lenders currently offer incentives to cover fees involved. However some lenders also allow borrowers to switch to lower Loan to Value rates and we will advise you of the most appropriate options available.
It is possible to remortgage your property to release equity in order to fund renovations, extensions, educational costs or to consolidate a limited amount of a short term debt e.g. term loans, credit union loans, credit card etc. In very limited circumstances it may be possible to release equity for investment and business purposes. Remortgaging may also give you an opportunity to avail of lower interest rates currently available from other lenders.
- Residential Investment Properties
Residential Investment Mortgages are available for example if you wanted to move house and still keep your existing house to rent it out, or if you simply wanted to buy an investment property for renting. A limited amount of lenders will consider applications to release equity on your investment properties for investment and business purposes.