Mortgages in Ireland
The amount that can be borrowed from Irish banks and building societies varies from lender to lender. Lenders have various criteria that borrowers must satisfy when they consider mortgage applications. As well as the value of the property, other factors taken into account include the income of the borrower, the type and security of their occupation, their credit history and the possibility of obtaining a guarantor for the loan. Even if these qualifying conditions are met, the borrower may still need to pay an up-front deposit before obtaining the mortgage. Borrowers may also have to meet other costs such as legal fees and possibly stamp duty. There are four basic categories of mortgage available to Irish house buyers currently looking to purchase a home. Fixed Rate Mortgage Variable Rate Mortgage Discount Rate Mortgage Offset Mortgage Fixed Rate Mortgage As their name suggests, fixed rate mortgages involve monthly repayments that…
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Mortgages in Ireland
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