Mortgage Brokers Ireland have helped provide their customers with professional advice and are able to compare (and de-jargonise) all of the offers from Banks. They also have access to an array of lenders that are not available to customers directly such as Finance Ireland and ICS. Irish Mortgage Brokers understand how the Banking process works and they do all the heavy lifting for customers.
You can leverage years of experience and Banking contacts rather than trying to figure it all out yourself. Above all most are not tied to one Bank, so that means they are not trying to offer you one i.e. Bank (AIB) over another (BOI). They work for you – the customer.
You need to be in permanent, full time employment. Either PAYE or Self-employed. Certain Banks will also have residence requirements so you will need to be based in Ireland and paying tax here too. If you have recently started a new job or are in a probationary period, the banks will not consider you for a mortgage.
Under the Central Banks lending guidelines , you can borrow 3.5x your combined income (if applying with a partner). There are certain circumstances where you can borrow more than 3.5x – but you will need to speak with a professional mortgage broker, Dublin based, but available nationwide – Pangea Mortgages!
Other items to look out for when applying are account performance. You need to keep your current account in surplus and not be overdrawn in the last 6 months. Also high credit card usage and persistent borrowings can count against you. A common mis-conception is that paying high rent will count against you – this is not true as it actually demonstrates to the Banks your ability to service property repayments.
Try also to have a consistent savings record. Each month put aside as much as you consistently can afford. It’s no good saving a large amount for three months and then having to use some of these savings to cover expenses in month 4. Contact Pangea Mortgages and we can draw up a plan that will help you reach your savings target
We make mortgages fast and easy!
Generally they get paid a fee from the Bank once your mortgage draws down. It’s the same fee from all Banks so they are not incentivised to favour one over the others. From a customer point of view they work for you, interact with the Banks, put in applications and they can also arrange your Life and Home Insurance. What’s not to like? For professional Irish mortgage brokers Dublin contact Pangea Mortgages now.
It will just take a few minutes to find out how much money you can save! We help you achieve your property goals.
Well that’s an easy one ! not only are Pangea Mortgages a fantastic mortgage broker Dublin, but when our customers think Mortgage Brokers Ireland – they think Pangea Mortgages.
We have not only friendly and helpful staff , but we also have highly qualified advisors who can help you with all of your financial needs. We are also happy to have a long chat with you on where property prices are going and how you can best position yourself to take advantage. We will run through all the questions you have about the process and love breaking down the complicated Banking jargon to make it easy for you to understand and compare the offers out there. We are a mortgage broker Dublin based, but we have our own revolutionary mortgage platform that allows us to cover all areas of the country.
We are happy to take an initial consultation over Zoom , Teams or just the phone if you feel more comfortable and you can then upload all your documents onto our lending platform- this cuts out all the trips back and forward with bundles of paper – its all digital with Pangea Mortgages! We are technologically a leading mortgage brokers Ireland.
In general for 80%-90% Loan to Values the rate is currently in the low 2%s – this will vary with the length of time you wish to fix for and may include other offers like Cashback. With cashback its worth speaking to any mortgage brokers Ireland as they can compare and contracts the costs of mortgages with and without cashback and see which one is most suitable for you and your circumstances.
If you are a first time buyer, you will need a 10% deposit. For a second and subsequent buyers you will need 20% of the value of the property. The reason the Central Bank has a deposit requirement is to stop a customer from falling into negative equity – this is where the property is worth less than the mortgage.
The deposit acts as a buffer against any fall in the house price. So from a Banks viewpoint, the larger the deposit (buffer) the lower the risk and therefore the lower the price they charge you (interest rate)