Mortgage Guide Steps

We Make The Journey As Easy As Possible

Work Out Your Budget

Mortgage Calculator
  • The standard mortgage amount will be 3.5 times your/combined salary
  • You cannot take out a mortgage for over the property value e.g. for renovation, you will need a separate loan for this


  • Having regular monthly outgoing transfers/deposits to a savings account will give your lender a record to view on your repayment ability
  • Deposit is 10% of the property for first time buyers, 20% for second time
  • Setting up a standing order (DD) from your personal account into your savings or mortgage saving account will look favourable to your lender
  • Avoid temptation by setting up a savings/mortgage saver account that you cannot withdraw from prior to a weeks’ notice

Apply For Your AIP

Apply for your Approval In Principle with a mortgage lender
  • This will last for 6 months, if you are searching for your home longer you will have to apply again
  • This is not a gurantee, this will just give you an idea of what you can borrow
  • Try to have any outstanding loans/debts payed off at this point for your application to run smoother

Find A Property

Search for a suitable property within your budget
  • If you are not sure about an area, you can ask the local Garda station
  • It’s always good to get a second opinion, have a friend or family member view the property also (be it online or in person)
  • Don’t be afraid to ask questions e.g. how long has it been since work was done? Is there management fees? What contents are included in the purchase?

Source A Solicitor

Find solicitor here
  • You will not be able to borrow money for your solicitor fees but you may be ‘gifted’ the amount from a blood relative, you can request a gift form from your lender
  • Pick up the phone! Talk to the solicitors and trust your instinct

Letter Of Offer

Apply for a property specific mortgage letter of offer from your lender
  • You may change the property address if you change your mind/bid falls through, it will be re-assessed by your lender
  • The longer the repayment term you choose the lower the repayments but please note you will end up paying more interest overtime
  • Your lender will usually require – 6 months bank statements, 3 months credit card statements, 3 recent payslips, a report/letter stating your employment status

Bid On Desired Property

  • Do your research, you can google search the value of properties recently sold in the area, this will give you an idea on how much higher/lower the property may go for
  • Some people like to bring in the surveyor at this point which shows the auctioneer you are serious about the property and committed
  • If your offer is accepted, request it is on the ground the property is removed from the market

Agree Sale

Agree sale and place deposit with Auctioneer
  • Keep receipt of your deposit for your lender

Get The Property Valued

You will need to get the property valued
  • Your lender will only accept certain valuers, they will have a list of approved businesses you can request
  • Valuation report usually costs around €150

Property & Mortgage Protection Life Insurance

Get your property & mortgage protection life insurance
  • You may have difficulty getting mortgage protection insurance during the COVID-19 pandemic if you have or recently had serious respiratory illnesses, a report from your Doctor on your recent health will assist with your application
  • Your mortgage protection monthly cost may vary due to lifestyle/health conditions


Complete contracts with your solicitor
  • You will need to pay your 1% stamp duty fees to your solicitor as well as the conveyancing costs
  • Your solicitor will do the rest and transfer the drawn down funds from your bank to the seller/solicitor

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