Can't find the answer here? Check out our general FAQ.

Approval is needed before you can make an offer on a house

Before a seller or his agent will accept an offer you will need approval in principle.
We can arrange approval in principle within a few days for you. To do so the basics are as follows
  • Secure permanent employment
  • Evidence that you can afford the repayments ( through savings and rent)
  • Good credit history
  • Use 3.5 times your gross income as a guide to borrowing capacity 

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Tell me again what documents I need for approval

The link below outlines our terms of business and various documents required to gain approval.
The sooner you assemble the documents on the checklist and get your employers to complete the salary certs,the sooner we can meet you and get you approved!  

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Why get approval now!

As people sit around and wait for prices to fall others are preparing themselves to buy when appropriate opportunities arise.
We strongly recommend having loan approval in place so that you are ready to move when opportunities arise
Even an approval in principle will give you a very good idea of your borrowing limits and allows you to look at properties with confidence.

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Should I wait because prices may be falling?

There are two key angles to look at.


The most important  issue is your sense of affordability.It is not what the bank will lend you,but rather whether you can afford the mortgage

If the price  of the property you are looking at is not at least 50% below peak tyhe chances are that the property you are looking at is overpriced.

Checking affordability
Another way of approaching house prices is by checking affordability. 

Divide the amount you can comfortably afford to spend on your mortgage by 6 to get your borrowing limit.

Lets say you are comfortable with €1,100 per month. Divide €1,100 by 6 equals €186,000.Any more than this and you may be running into trouble!

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Finance Company of Ireland Ltd t/a Mortgage Company of Ireland is regulated by The Central Bank of Ireland.

2002-2014 All rights reserved.
Head office: 97 Malahide Road, Clontarf. Dublin 3
Also at Classon House ,Dundrum Business Park, Dundrum, Dublin 14.
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