Top Ten Mortgage Tips

Top ten Mortgage tips for First time buyers

  1. A mortgage is a long term commitment .At a fundamental level you need to be happy that buying is the route you want to take and to be aware that prices can go down as well as up
  2. We believe that is is very important to use an independent adviser (like We have years of knowledge and experience that is available for your benefit free of charge and a range of experts to advise you.
  3. Remember that if you deal directly with a lender, they will only offer you, their limited range of products.
  4. Before you start looking, find out how much you can borrow,
  5. Only borrow what you can afford and the lower the borrowing, the better.The amount you can afford can be assessed by looking at your current savings and/or rental payments.For example, if you are paying rent of €700 and saving €250 regularly this indicates you can afford no more than €950 per month.
  6. Leave plenty of room for living expenses.
  7. Prepare well in advance.Keep your current accounts well maintained,avoid credit card debt and other short term loans and save regularly
  8. Stretch yourself a little to get the home you want but only do so if you are happy that you can afford repayments, even if rates go up.
  9. Always budget for adequate protection insurance to cover sickness and redundancy.
  10. Try and fix your mortgage if at all possible and if reasonable fixed rates are available.
  11. Be very careful with introductory rates and always consider the rates that apply after the expiry of the discount period. .