First Time Buyers
Did you know that taking professional financial professional advice is one of the key factors in generating wealth!
Our financial advisory firm was established in 1994.
We are authorised by the Central Bank of Ireland to advise on and arrange mortgages and related insurance products.
Our team of qualified Chartered Accountants and Financial Advisers provide a wide range of financial advice to help our customers reach their financial potential and and to ensure that they have adequate protection in place to safeguard themselves and their families.
If you choose to use a bank directly they only sell you their own products. By using our services you receive clear professional advice on the most suitable mortgage on the market .
Key elements of our business include:
- We are one of Ireland's leading mortgage specialists
- We deal with all the major lenders and insurance companies.
- We have helped thousands of clients in buying their homes and in protecting their wealth.
- We make the buying process easy.
Mortgage brokers currently account for over 40% of all new mortgage business in Ireland.
Some more kind words from valued clients?
"Having just recently purchased my first home I have to thank all at mortgages.ie. Alyson, Shane and the whole team were a pleasure to deal with from the start and always kept me well informed with the progress of my application. What I thought would be a daunting task and potentially stressful time ended up being far from that thanks to the excellent customer service I received. 5 stars!"
From Triona - happy in her new home in North Dublin!
You can't see me but I am doing a dance. That's amazing news. Thanks so much for all your help- Also to Shane and Daniel who put up with all my questions. Thanks a million!
From Ronan who was renting for many years and bought a beautiful new house in Galway availing of the help to buy scheme.
We look after everything for you, from start to finish.
Mortgages are complicated and we take all the hassle out of the mortgage process.
The process is very interactive whether we are chatting to you about the mortgage application documents, the choice of lender, the choice of rates, issues around the house purchase itself, dealing with disappointments when you may just miss out on a house to sharing the joy and excitement when you get the keys.
- We deal with Ireland's leading lenders on your behalf.
- Our online mortgage application and docusign facility enables you track your mortgage online right through until you get your keys.
- We also advise you on related insurances, house buying and negotiation, choosing professionals such as solicitors and surveyors.
- We are always here to chat to you if you have any queries.
Typical Lending criteria:
- Maximum mortgage 4 times gross income
- Secure employment for at least one year
- Irish Resident
- Clear evidence of affordability
- Good credit history
Typical example of a qualifying couple:
John and Mary have been renting for 3 years and are fed up paying rent. They have been paying rent of €1,500 a month and are savings €1,200 per month for 12 months.. There salaries are €40,000 and €45,000.
John is a civil servant for 6 years and Mary is a qualified nurse. They have €40,000 in savings. They have a good credit record.
Their maximum mortgage will be €340,000.
Repayments on a 4 year fixed green rate of 3.65% on a 35 year mortgage would be €1,435 per month.
They are showing significant repayment capacity (rent €1500 and monthly savings of €1200) and repayment capacity is the most important test that lenders rely on when approving mortgages.
Subject to providing all the necessary evidence in regard to the facts above, they should be approved at the level stated.
Help to buy Scheme for first time buyers
First time buyers can get assistance towards the price of a new home up to a maximum of €30,000.
To claim HTB, you must:
- be a first-time buyer
- buy or build a new property
- live in the property as your main home for five years after you buy or build it
- be tax compliant, if you are self assessed you must also have tax clearance..
To qualify, you must not have previously bought or built a house or apartment, either on your own or jointly with any other person. If you are buying or building the new property with other people, they must also be first-time buyers. If you have inherited or been gifted a property it will not affect your eligibility.
If you are buying the property, you must have signed a contract to buy that property on or after 19 July 2016. If you are self-building, you must have drawn down the first part of the mortgage on or after that date.
The Help to Buy (HTB) incentive is a scheme for first-time property buyers. It will help you with the deposit you need to buy or build a new house or apartment. You must buy or build the property to live in as your home.
The incentive will give you a refund of Income Tax and Deposit Interest Retention Tax (DIRT) that you paid in Ireland (minus any refunds you have already claimed). The refund will be from the four years prior to making the application.
The amount that you can claim is the lesser of:
- 10% of the purchase price of a new home.
- the amount of Income Tax and Deposit interest retention tax you have paid for the four years before you make your application.
The maximum payment is €30,000 per property. This cap applies regardless of how many people enter into a contract to buy a house.
Universal Social Charge (USC) or Pay Related Social Insurance (PRSI) are not taken into account when calculating how much you can claim.
Making the mortgage process easier through careful preparation
If you are ready to apply we are ready for you. If you are not yet ready these little tips may help.
- Write down a short plan on paper.
- If you plan to move job or get further education/skills build this into your plan.
- Become highly organised in any aspect of life that impacts on your finances.
- Set savings goals and stick to them.
- Prioritise paying off debt.
- Sacrifice some non essential spending.
- Keep your finances simple - close unnecessary accounts and make your savings easy to verify.
- Identify your preferred location and know everything that is happening there on the property market.
Also in This Section
- Mortgage How Much Can I Borrow?
- · Borrowing Limits Examples · New Mortgage Lending Regulations Jan 2015
- Will I Qualify for a mortgage?
- Learn more about fundamental principles of mortgage approval: what is the maximum limit, how much of a deposit you need and so on.
- Mortgage Lender and Product Choices
- Guide to Irish mortgage lenders and the facilities they provide.
- Step by Step Guide
- This is our step by step guide to mortgages for first time buyers.
- Getting Mortgage Approved
- Explanation of the basic steps for getting your mortgage approved.
- What Happens When You Contact Us?
- · Mortgage Protection and the Corona Virus
- Top Ten Mortgage Tips
- Essential tips for first-time buyers.
- Mortgage Interest Calculator
- Calculate the capital/interest ratio over the lifetime of your mortgage.
- Payment Accelerator
- Calculate the effect of increasing your mortgage payments to pay of your mortgage early.
- Budget Planner
- A useful tool for calculating your household budget.