TOP TIPS FOR GETTING A MORTGAGE

Applying for a mortgage can be a daunting process. Before you start it will help to have some items in order. Below some helpful tips to get you started.

  1. You should be finished probation and ideally working continuously in a permanent role for two years.
  2. Have savings-Even if you are getting help with the deposit you have to show the capacity to save.
  3. Tidy up your current account. Your records will be scrutinised for a minimum of six months.
  4. Have no loans or rolling credit card debts. Any existing loan facility will come off your disposable income for mortgage calculation purposes.
  5. Maintain good current accounts and stay out of your overdraft.
  6. Good accounts mean no referral fees, and not being at a near zero balance at the end of the month.
  7. Clean up your credit rating. It is assessed over two years (at least). Any missed payments or defaults on previous loans, credit cards  will stand against you.
  8. Pay rent by standing order. This is important because it gives traceable account of how money is used.
  9. Don’t gamble online.
  10. Don’t make extravagant purchases and avoid big expenses in the six to twelve months before you apply for the home loan.
  11. Consider mortgage coaching, a broker will look at your finances and put a plan in place to correct bad habits in your current account or patterns of spending to help you succeed with your application.
  12. Have patience. Getting a mortgage may take three to six months.

Mortgage Calculator


Yes   No

First Time Buyer Rebate €





Bridgedale

WANT to be notified
ON THE RELEASE
OF future
developments?

Sign Up Here

GET SOCIAL...

LinkedIn
Top