Getting Mortgage Ready

February 18, 2019
News Image

Getting Mortgage Ready


If like most people you require a mortgage to purchase your home, an experienced broker can offer you so much at this stage. Getting that all important mortgage can be a difficult and sometimes lengthy process so you will need the help of an informed advisor who will make you aware of any potential pitfalls and obstacles.


You will be faced with many choices and questions during this stage. Should you choose a fixed or variable interest rate mortgage? How much can you borrow? How long will it take you to pay off the loan? Your independent broker is there to advise you on each of these issues. So now is a good time to start getting mortgage ready and put yourself in prime position to secure that loan.


Questions to consider early in the mortgage process

  • Are you in permanent/ regular employment with a steady income? To get a mortgage you must have completed any probationary employment period and you should be at least 6 months (but preferably 12 months) in continuous employment.
  • Can you demonstrate your abilty to repay? For example, by showing a strong savings history and strong payment history on a monthly basis
  • Can you show your lenders some evidence of saving which demonstrates solid financial planning on your part and an ability to manage money?
  • Have you started gathering key documentation? This includes 3 months’ / weeks’ payslips, 6 months current account statements, 6 months savings bank account statement / credit union states , 12 months loan account statement for all existing loans including existing mortgages and  a recent P60 for all parties involved.

How can we help

You can use our online mortgage calculator and access our guide to Getting Mortgage Ready by visiting our website