Buying a home is the single biggest financial transaction that anyone makes in their lifetime and with the high cost of property in Ireland today, house purchase is an even bigger investment decision than ever before.
With over 160 different mortgage offers currently available, it's important to get the best independent advice on the best option to suit your needs and the various conditions applying to your particular mortgage application.
Through its agencies, framework financial places business with all of the major loan providers in the marketplace but before reaching that stage, prospective home-owners are taken step-by-step through the full mortgage process including completing the necessary mortgage application forms.
Professional, independent advice from framework financial means potential housebuyers need not compromise on their mortgage arrangements and end up paying more than was necessary.
Further information is available on: |
| Borrowing Limits | Whilst first time buyers had the option of borrowing up to 100% of the property, most lenders have now exited this market. Many will still allow up to 92% in certain circumstances. Lenders have different criteria when deciding the maximum amount of loan you can service.
Some will base it on a multiple of your income or joint income, while others will base it on a percentage of your disposable income - typically this will be in the region of 35% - 40%.
Lenders will have different criteria on overtime, bonuses, commissions etc., but will generally allow certain percentages of these income to be taken into account. Some will also include a possible rent received from the rental of a room in your home. |
|
