Mortgage Advice EDUC Mortgages

Mortgage Advice

Our expert team of impartial mortgage advisors are here to support you at every step of your journey.

EDUC Mortgages has been helping people get the best mortgage available since 2001.

Impartial Mortgage Advice

Let Us Help You Get The Best Rate On The Market

First Time Buyers

Are you ready to start the journey towards owning your first home? Let us simplify the entire process for you, from start to finish. No fee, no fuss, just expert advice, every step of the way.

Switch & Save

Switching your mortgage to another provider can lower your monthly repayments and save you thousands over the life of your mortgage. Find out how much you can save today!

Home Movers

The mortgage rules are different for second-time and subsequent-time buyers. Whether you are trading up, downsizing or moving home, we are here to guide you through it.

Rules For Borrowing

How much can I borrow?

The amount you can borrow is based on a number of criteria as follows:

  • Employment
  • Salary
  • Children
  • Other loans you may have
  • Repayment capacity

You should be in a permanent employment and not be on probation, however exceptions can be made e.g. for doctors who would be on contracts in different hospitals.

The amount you can borrow is 4 times your salary for first time buyers and 3.5 times your salary for subsequent buyers, with deductions taken if you have other financial obligations like child support, dependant children, loans, credit card or if you have a partner who is not working.

Mortgage Do’s and Don’ts

Do:

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Save regularly

N

Clear your credit card

N

Ensure that if, you are paying rent, that the rent is paid by direct debit from your bank account to the landlord

N

If you are living at home and paying parents rent you should also pay this into your parent’s bank account

N

If you are saving, make sure that the savings are put in on a regular basis. (i.e. weekly or monthly)

Do Not:

M

Miss any existing loan payments

M

Miss direct debit payments

M

Withdraw money from your savings account(s)

M

Withdraw cash using your credit card

M

Bet online

How much can I borrow?

The amount you can borrow is based on a number of criteria as follows:

The amount you can borrow is based on a number of criteria as follows:

  • Employment
  • Salary
  • Children
  • Other loans you may have
  • Repayment capacity

You should be in a permanent employment and not be on probation, exceptions can be made e.g. for doctors who would be on contracts in different hospitals.

The amount you can borrow is 4 times your salary for first time buyers and 3.5 times your salary for subsequent buyers, with deductions taken if you have other financial obligations like child support, dependant children, loans, credit card or if you have a partner who is not working.

What are the hidden costs of getting a buying a property?

So lets assume you are purchasing a property for €200,000 you will need the following:

10% Deposit €20,000
1% Stamp duty €2,000
Legal Fees €2,000
Total Needed €24,000

 

Before you apply for a mortgage you should insure that your bank statements are in order. Sometimes you need to put a 6-month plan into place before you apply for the mortgage. This plan should include:

N

Good money management across all active current and savings accounts.

N

No missed direct debits or standing orders.

N

Controlled use of your credit card and ensure a monthly direct debit for minimum payment is set up.

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Here To Help

Why Choose EDUC Mortgages?

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Free Mortgage Advice

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Extensive Lender Network

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Simplified Mortgage Process

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Ongoing Support

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No Fee! (Our Fees Our Paid By Each Lender)

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National Coverage

Trust the Numbers

EDUC Mortgages has been in business over 20 years with highly experienced qualified financial advisors.

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Mortgages Secured

Years' Combined Experience

Dedicated Full Time Staff

Testimonials

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Start Today With A Free Mortgage Consultation

Our mission is to get you the best rate on the market for your mortgage so you can minimise your monthly repayments and protect yourself against rising interest rates. We understand the unique challenges that you face, and we are here to be your trusted partner every step of the way. So let’s get started!