Remortgage

Will I save money by re-mortgaging?

You will save money if you can switch to a cheaper rate.

WE WOULD NEVER ADVOCATE THAT YOU SWITCH YOUR MORTGAGE FROM A TRACKER RATE TO A VARIABLE RATE UNDER ANY CIRCUMSTANCES.

How much can I save?
Switching your variable mortgage to another provider could save you thousands of euro in interest payments over the lifetime of the mortgage.

Example:
- Current Interest Rate 4.50% Variable
- Current Mortgage Balance €250,000
- Property Value €420,000
- Remaining Term 20 Years

By switching this mortgage to a 3.85% (APR 3.92%) variable mortgage you will save interest of:
- €127.13 per month
- €30,511 over the term of the mortgage

Also by "overpaying" the €127.13 to your new lender you could shorten the mortgage by over 2 years and save even more in interest payments!

Lending Guidelines for Switching Mortgage 
- Typically for home loans only
- Loans available for up to 90% of home value
- Loans available to include renovations to property
- Loans available to include debt consolidation of up to €40,000
- Certain lenders will contribute up to €1,000 towards your legal expenses 

Your Mortgageapproval.ie consultant will of course be happy to guide you through this area.

Unfortunately at present you cannot Re-Mortgage if you are currently in arrears or experiencing difficulties with your present mortgage provider.

We will guide you through your application from start to finish and explain the entire process in a straight forward jargon free manner. 

The approval of your application begins with us. By using our expertise your case will be well prepared and properly presented giving it a much greater chance of success. 

We have over 30 years combined experience and a successful track record in attaining the right mortgage approval for our Remortgage clients.

What is the Application Process?

1. Click on the Apply Now! link opposite and complete/submit the Online Mortgage Application form.

2. We will review the form and contact you to discuss what mortgage amount you are likely to qualify for based on our initial calculations on the information you provided. This may involve some more pre-qualifying questions.

3. Once we are satisfied that you can qualify for the mortgage, we can move to a full application. This is where the real work begins!  We will inform you what documents you will need to gather to complete an application. If required, we are happy to meet you in our office here in 18 Fitzwilliam Sq South, Dublin 2 or a convenient place of your choosing. 

4. We will then assemble and present your application in the most favorable manner with a view to obtaining a formal Approval in Principle. Once we submit your case to a lender there will be a credit bureau check carried out and the lender will assess the application. This process can take up to two weeks. The lender will liaise with us regarding any queries that may arise. We charge a fee of €100 on formal submission and a further €395 on receipt of a formal loan offer. 

5. Your approval in Principle document will be sent to you once it is issued. This will outline any conditions that may have to be met although we will ensure that these should be minimal. 

6. The lender’s valuer will charge you a fee, normally €130, for this report. Once the report goes to the lender your formal Loan Offer should follow within a week. 

7. Your Loan Offer will contain certain conditions that must be met. We will advise you on all of these conditions including the appropriate Mortgage Protection and Home Insurance Cover. We will also liaise with your solicitor and lender to ensure that you have a smooth mortgage drawdown. 

We will guide you through the entire process from initial query to successful drawdown!