Quick Mortgage Guide

To aid you in your search for a first time buyers guide to their first mortgage, we have created this quick mortgage guide to help you with any information that you may need on your journey. This mortgage guide will act as a tick list.

One - Are Your finances In Order

• Use our online calculator to see how much you can borrow - click here
• Sometimes a 100% mortgage is the best option for a first time buyer, this allows you to take out a non deposit mortgage on your first home.
• If you are going for the deposit option please note that the mortgage deposit funds can't come from another borrowed source, the deposit must come from some kind of saving or gifts from family members etc.
• Once you have calculated the amount that you can borrow its a good idea to look and see what the best mortgage is for you.

Two - Your mortgage application

• Fill out our easy online mortgage application form.
• Mortgage plus will review your mortgage application and one of our mortgage consultants will contact you within 24 hours. 
• Our mortgage consultant will advise you of all the documentation that you will need.
• We will then arrange a face to face meeting with you.
• Our mortgage consultant from Ireland will then advise you on the different types or mortgages that are available to you on the market at that time, they will recommend the best repayment plan for you. 
• Mortgage plus will then send your application to the best mortgage lenders in Ireland.
• It normally takes around 2 to 5 working days for a decision to be made on your mortgage application.

Three - Finding Your new home

• You may have already seen your dream home, but if you haven't now is the time to start looking. Once you find one, you will need to check it against your mortgage budget, if the price is high you may also have stamp duty to pay.
• Once you have found your home you will need to contact your solicitor. Once you have secured your new home (you will be asked to pay a booking deposit on the property) - legal fees are typically .75% of the asking price + outlay and VAT.
• Mortgage plus will be able to point you in the right direction of a good solicitor if you don't currently have one.

Four - Life and Home insurance

• When taking out any mortgage you must have home and life insurance cover
• Mortgage plus maybe able to help you find a good quote for home and life insurance.
• Mortgage plus will inform the lender of your new home address and finalize your mortgage approval.

Five  - Finalizing your Mortgage

• Once you have found your dream home and paid the booking deposit fee, mortgage plus will help you arrange a valuation of the property and submit the finding to your lender, this normally costs around 128 euros.
• If the valuation was ok the mortgage lender will issue a offer letter and send it to you and your solicitor.
• Once you have satisfied yourself with the terms of your offer you will be ready to sign the contracts for your new home, the remainder of the 10% deposit minus the booking fee will be paid by your solicitor. The contracts will state your closing date - the date the house officially becomes yours.
• On closing the sale your solicitor will get your mortgage choice from your Irish mortgage lender and pay the vendor.

See mortgage costs