Frequently Asked Questions

How much can I borrow?

The maximum amount you can borrow depends on several factors such as your income and your capacity to repay your loan.

How much of a deposit will I need?

Central Bank deposit rules require a minimum of a 10% deposit for first time buyers. For example, if the value of your property is €300,000, you’d need a deposit of €30,000.

Second time buyers and Switchers can borrow up to 80% of the value of the property

Will I need to pay stamp duty?

If you are purchasing a property stamp duty is payable at 1% on property up to the value of €1 million and increases thereafter.

What fees are involved?

Usually the following fees are associated with a mortgage.

1. Valuation Fee
2. Legal Fees
3. Stamp Duty
4. Life Assurance
5. Home Insurance

How long will it take to receive “Approval in Principle”?

Once your completed application has been submitted and approved to the lender it should take approximately 10 working days.

How do I start the application process?

Just click here to get started Let's Get Started

What documents will I need?

Typically you will require the documents below as part of your application.

Employment and Income (PAYE)

1. Salary certificate completed and stamped by employer
2. Employment Summary Statements – latest available (these replaced the P.60)
3. Last 3 months payslips

Or for Self Employed Employment and Income

4. Last 3 Revenue Form 11’s and Chapter 4 confirmations
5. Tax clearance certificate
6. Last 3 years trading accounts

Financial Statements

7. Last 6 months bank account statements (Please include all accounts – current, joint, savings, business etc.), up to date i.e. within the last 4 weeks.
(Note; If the most recent statement is more than 4 weeks old, please print online transactions since the last date on the statement)
8. Historical savings account statements (or other evidence in writing) showing the build-up and sources of funds being used for the deposit on the property.
9. Last 6 months’ credit card statements (the latest dated within 2 months)
10. All loan/term loan/overdraft statement(s) from banks, Credit Union etc.
11. Mortgage statements, If the most recent statement is more than 4 weeks old, please print online transactions since the last date on the statement

Identity Documents

12. Original passport, driver’s licence or EU National Identity Card (EU country)
13. Utility bill dated in the past 6 months (alternatively, an original statement from a financial institution, or a letter from a government department may suffice, dated in the last 6 months)
14. Original household/health/ or motor insurance documents less than 12 month old.

Why choose MortgageApproval?

With so many Lenders to choose from, it's hard to know which is the right one for you and it can be overwhelming to even know where to start. MortgageApproval is impartial and not affiliated with any one lender so we will take the hassle out of the mortgage process and use our vast knowledge and experience to ensure you get the best deal available on the market. Our advisors deal directly with all the major Lenders and will save you time and take you through the process.

Frequently Asked