As steps in life go, buying a home is certainly one of the big ones. But if you know what’s involved in the mortgage process, you can see it instead as a number of small, easily-managed steps. What’s more, you don’t have to take them on your own. We are here to help you, providing as much guidance and support as you want or need. Every step of the way.
If you’re a first time buyer, you need to allow time to get yourself mortgage ready. Start as soon as you can. Because the moment you begin preparing, you’re moving one step closer to the day you move into your new home.
With our easy-to-use mortgage calculator you’ll get an indication of how much you could currently afford to borrow.
Getting started takes just two minutes. Or you can make an appointment to meet one of our mortgage specialists or mobile mortgage managers. You can set this up for the time and the place that suit you best.
To help us make a decision on your application you will need to show that you can pay the mortgage back. We will look for bank statements and income certificates to support your application.
First Time Buyers can apply for a mortgage of up to 90% of the value of a property, which means saving at least 10% of the purchase price. If you need guidance on putting a savings plan in place to reach your deposit, we’ll be happy to help. Remember to also set money aside for expenses like stamp duty, legal fees, insurance and life cover.
Once you have your deposit and have applied for the mortgage, we can issue you with an Approval in Principle Letter if your application has been successful.
Provide the documents as requested in your Approval in Principle letter within six months. Once we make sure we are happy with the contents of the documents and assuming your circumstances haven’t changed, we’re on to the next step.
Once we have given you a letter of offer, you and your solicitor will each receive a loan offer pack in the post. You should review the loan offer letter with your solicitor, sign and return it to us (along with any other supporting documentation requested in the letter of offer).
With approval secured, you can start your search in earnest, knowing that we’re ready to move the moment you are. Once you find “the one”, make an offer and let us know if it is accepted. Your mortgage specialist will give you the name of an approved valuer so that you can have a valuation carried out on the property.
Then it is time to pay your deposit and exchange contracts. You’ll also need to arrange your home insurance and your mortgage protection cover. These need to be in place before you can draw down your mortgage. Your mortgage specialist can bring you through this.
Once all the above steps are completed and assuming you have given us anything else required in the Offer Letter and we are happy with it, we issue your mortgage funds either to your solicitor or directly to you if you are not purchasing a property and there is no solicitor involved (we will explain this in more detail at the Letter of Offer stage).
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Bank of Ireland Mortgage Bank u.c. trading as Bank of Ireland Mortgages is regulated by the Central Bank of Ireland.
Are you ready to take the next step and buy your dream property?
We’re here to help you every step of the way.
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Bank of Ireland Group plc is a public limited company incorporated in Ireland, with its registered office at 2 College Green, Dublin, D02 VR66 and registered number 593672. Bank of Ireland Group plc, whose shares are listed on the main markets of the Irish Stock Exchange plc and the London Stock Exchange plc, is the holding company of Bank of Ireland.
Bank of Ireland is regulated by the Central Bank of Ireland. In the UK, Bank of Ireland is regulated by the Central Bank of Ireland and authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request.
