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Mortgage Application Proccess

  • 20-09-2017 9:54pm
    #1
    janeysorcha
    Closed Accounts Posts: 18 ✭


    Starting the mortgage application proccess soon! I'm curious, where some mortgage providers more efficient than others? if so, who?

    Any tips and tricks for a couple of young first time buyers would be much appreciated! :)


Comments

  • #2
    Wesser
    Registered Users, Registered Users 2 Posts: 1,813 ✭✭✭Wesser


    There a whole megathread on saving and applying for a mortgage 2015 16 17.


  • #3
    CruelCoin
    Registered Users, Registered Users 2 Posts: 4,468 ✭✭✭CruelCoin


    janeysorcha wrote: »
    Starting the mortgage application proccess soon! I'm curious, where some mortgage providers more efficient than others? if so, who?

    Any tips and tricks for a couple of young first time buyers would be much appreciated! :)

    Steps here (BOI, but fairly much the same across all banks), i'd go with KBC at the moment, if only because they're offering great rates.

    https://personalbanking.bankofireland.com/borrow/mortgages/articles/how-the-mortgage-process-works/

    Tip for you: Cancel any and all subscriptions to have to anything gambling. Mortgage lenders hate that.

    There will be a lot of back and forth between lawyers with relatively little input from you, so ask around and find a lawyer who is on the ball and has a reputation for quick work.
    If you have a lawyer that takes a week to do anything, your time to complete will balloon!
    For the same reason, get all your paperwork ducks in a row, https://personalbanking.bankofireland.com/borrow/mortgages/articles/mortgage-documentation-checklist/

    Wesser wrote: »
    There a whole megathread on saving and applying for a mortgage 2015 16 17.

    And an extra thread doesn't hurt anyone..... Not practical to read a threadnaught.


  • #4
    Wesser
    Registered Users, Registered Users 2 Posts: 1,813 ✭✭✭Wesser


    Lowest rate I am aware i
    Of at the moment is Ulster bank at 2.6%.

    When you call the bank they will.talk you through what steps are needed.

    You need to have proof of ( rent plus savings per month) is greater than mortgage repayments.... and some left over.


  • #5
    The_Honeybadger
    Registered Users, Registered Users 2 Posts: 4,219 ✭✭✭The_Honeybadger


    Went through this lately with AIB, herself is self employed so it was a pain but if you have PAYE income it should be more straightforward.

    AIB have a formula for income of €2k per couple after mortgage and childcare and €250 per child p.m. thereafter I think. If you are above that will relatively steady employment and reasonable spending habits you should be fine. We went through our local branch and I found the mortgage adviser there very good.


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