MORTGAGE
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MORTGAGE
There's no place like Home.
Buying a home can be one of the biggest financial decisions you will have to make in your life. Whether you're buying your first house, or you're a seasoned homeowner, we'll help you find the one that's right for you. Get a quote

A mortgage is a long-term loan that is secured against your property, so it is important to take your time, get the right advice, and choose your mortgage wisely. We can:

  • Help you decide on the right type of mortgage to get
  • Help you understand the costs involved in buying a home
  • Save you time and money by shopping around on your behalf
  • Help you understand the risks involved in certain mortgage products
  • Recommend the most suitable mortgage for your needs
WHAT IS IT?
A Legal Charge on Your Property
A mortgage is a more common name given to a house or property related loan. There are many different types of mortgages available. However they tend to vary by:
  • The method in which the capital borrowed is to be repaid to the lending institution
  • The interest rate payable on the loan
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    Types of Mortgages
  • Annuity (or Repayment) Mortgage
  • Interest-only Mortgage
  • Pension Mortgage
  • Endowment Mortgage
  • Buy-to-let Mortgage
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    Interest Rate Options
  • Fixed rate
  • Variable rate
  • Tracker variable rate
  • Split rate
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    Home buying Costs
  • Deposit required
  • Stamp duty
  • Estate agent fees
  • Legal fees
  • Surveyors fees
  • Valuation fees
  • Moving expenses
  • Furniture and fittings, and decoration expenses
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    CAN I GET A MORTGAGE?
    How Much Can I Borrow?
    Lenders use different ways to work out the amount of mortgage they will give you. They take into account:
  • Your income, the type and security of your job
  • Whether you are borrowing on your own or with someone else
  • Your savings and outstanding loans
  • Your credit history and rating
  • Whether anyone will act as guarantor
  • 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. Most Irish lenders will lend up to 92% of the property value or purchase price. You can repay a mortgage over any period between 10 and 40 years, provided the mortgage is repaid before age 70.
    Due to the recent global credit crunch and property market slowdown, lenders have imposed stricter lending criteria on customers.
    Mortgage Application
    The following documents would be required to proceed with your mortgage application:
  • Home Loan Application form to be completed
  • Salary Certificate to be completed by employer(s)
  • Latest P60
  • Last three payslips
  • Three months current bank account statements
  • Twelve months loan account statements
  • Copy of passport(s) or drivers license
  • Original utility bill
  • Savings statements


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    Glenbay Financial Services Ltd. is regulated by the Financial RegulatorCopyright © Glenbay Financial Services Ltd. 2011