Moving House?

Already got a mortgage but want to move into your dream home? We can help. You've been through the mortgage process before, but this time around you might need some advice on the best way to deal with the added complication of selling your existing home.

Building your own home

Trading up can be a very exciting experience, but it can also be a very busy time. Building your own home normally involves the use of stage payments so the process is different than applying for a standard mortgage.  We will guide you through this process.
 

Ready Built Homes

You may have found your dream home ready and waiting for you to take possession. We will advise you on how much you can borrow so you know initially what your maximum budget is.  You will then be in a position to negotiate confidently with the seller knowing what you have to spend.
In each case, we will find you the best and most appropriate rates, and the most suitable for your needs.

Did you know?

  • Trading up means you may require bridging finance as you may be in a chain, this can cause complications in the process – contact us for further information.
  • Taking out a new mortgage may mean you require new life policy, we will advise you on the most appropriate type of cover and the most competitive rates.
  • The average mortgage term in Ireland is for seven years, you might be moving sooner than you think.

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Frequently Asked Questions

  • How much can I borrow for my mortgage?

    Lenders use different ways to work out how much of a mortgage they will give you. The most important factor is your ability to repay the loan. Generally lenders take the following factors into consideration:

    • Your income, the type and security of your job.
    • Are you borrowing on your own or with someone else?
    • Have you savings and / or any outstanding loans?
    • Do you have a good credit history?
    • Will anyone will act as a guarantor for you?
    • What is the value of the property you want to buy?

    As a general rule, most lenders will try to make sure that your mortgage repayments plus any other loan repayments you have don't go above 40% of your monthly take-home pay.  They may offer you a smaller mortgage or offer you a mortgage over a longer term.

  • What is a 'top-up' mortgage?

    If the value of your home is higher than the amount you owe on your mortgage (this is called 'having equity'), you may be able to borrow extra on top of your existing mortgage.  This is known as ‘topping up' your mortgage.  The mortgage top-up loan is added on to your existing mortgage and secured on your home.  You may have to pay certain legal fees and other charges for this type of loan, so it is generally more suitable for larger sums of money where you may borrow over a number of years. 

  • What is a tracker mortgage?

    With a tracker mortgage, the interest rate is set at a fixed percentage (margin) above the European Central Bank (ECB) rate. For example, your rate could be set at the ECB rate plus 1%, for the life of your mortgage. This extra percentage above the ECB rate will stay the same until you have paid off your mortgage. If the ECB rate rises by 1%, your tracker rate will automatically rise by exactly 1%. The opposite happens if the ECB rate falls.

  • What is the difference between a fixed rate and a variable rate?

    Variable rates can move up and down in line with European Central Bank (ECB) increases or decreases in the base rate.With a fixed rate mortgage your rate stays the same for a set period of time (the fixed term), so your repayments don't change no matter even if ECB rates go up or down.

  • What is a fixed rate break penalty and when does it apply?

    If you want to change to a variable rate or pay off your mortgage before your fixed-rate period ends, your lender can charge a fee to cover the cost of breaking your fixed rate. Also, most lenders will not allow you to pay a lump sum into your mortgage during the fixed-rate period, so you could lose out on saving interest in this way.