Moving House Fees - Fees - Customer Area Mortgages.ie

Fees for Moving house applications

Where it is clear to us that approval is not realistic, based on basic information included in an online enquiry or initial discussions, we will advise accordingly at no cost.

Moving home is stressful.

In today's difficult economic environment many people are choosing to stay where they are until there is more certainty in the air.Sellers are looking at selling theri home for around 50% less than they might have received a few years ago.We have also seen a reluctance among sellers to reduce prices to a realistic figure.

Th reality is that the houseyou are buying will probably have dropped as much if not more and by buying in the same market you are hedging your bets as long as you sell first and prices do not rise quickly after you sell.

The mortgage process can very often take much longer when there is a sale and purchase involved.House sales fall through,lending criteria changes,rates change and very often the lender we finish up with may not be the lender originally identified at the outset of the process.

Initial assessment

Our detailed initial assessment process involves discussing your circumstances with you and carrying out a detailed a review of the following documentation which will ask you to send to us..

We will assess whether it meets the lending criteria of our lenders.establish the likely level of funds that will be made available for you mortgage and which rates and terms apply to the options available.

Loan Approval

Following a positive initial assessment we will make arrangements to meet up with you..

Your consultant will meet you at a convenient time and location to suit you

Introduce our terms of business and tell more about our company and the mortgage process
Analise all original documentation seeking explanations for items likely to be raised by underwriters
Advise you on the the best current offers from lenders and recommend suitable lenders
Discuss affordability and the impact of rising rates on net disposable income
Advise you on life insurance and related protection issues

Your consultant will then prepare a Mortgage recommendation paper and present this together with a completed file to our administration department.
Administration will review the file for compliance and will forward the application to chosen lender/lenders
Administration will deal with any lenders queries,contacting you if necessary.
When mortgage approval issues we will advise you of the terms of this approval any any further requirements that need to be attended to prior to loan offer.
If you are refinancing we will arrange a valuation of your property.
If you are buying we will liaise with you until you have found your new home.If necessary we will arrange for you to provide up to date information to keep your approval current.Please note that during the period from approval to draw down, lenders often change their rates and policies and in some instances it may be necessary to start the whole process again.
When you have secured a home we will instruct a valuation.Your consultant will contact you to review the latest rates and terms on offer after which we will ask the lender to issue a formal offer letter

Closing

Administration reviews the offer letter to ensure terms are in accordance with instructions and advise you of any special conditions or other requirements that need to be attended to in order to close.
Your consultant will contact you again to finalize any life insurance,home insurance or other protection issues that need to be attended to prior to closing
Life insurance applications and related compliance documentation are returned to administration for assessment and arrangements are made to to reconcile issue dates in accordance with closing instructions.
Administration remains in contact with solicitor to ensure smooth running of various legal and financial issues prior to cheque request to lender.