First Time Buyers Mortgage

first time buyers mortgage

Mortgages for First Time Buyers

 

First Credit has been helping first time buyers since 2002. We were one of the first to recognise that first time buyers need a one stop financial shop for mortgages and need advice on everything to do with buying a house. When you get your first time buyers mortgage with First Credit you get our low cost legal fees deal of €690 (this excludes the outlay & vat) which saves thousands in upfront costs. We deal with the major insures to get you the lowest cost life assurance and our sister company www.quotedevil.ie have low cost home insurance.

 

So once you deal with us we have access to all of the banks criteria and will advise you on the amounts the different banks will lend as well as the repayment amount on the different terms available from 20 to 35 years.

How Much Do You Need to Borrow?

 

The first step in buying a property is seeing how much money you can borrow. This is not the same for everyone as the banks look at salary, overtime, commission and bonus’s differently to each other. They’ll consider your deposit, whether you have short term debt that should be repaid and whether you have shown repayment capacity. Repayment capacity is showing that you have been able to save and pay out each month an equivalent amount to the mortgage you are looking for. So if your first time buyers mortgage is €1,000.00 per month you need to be saving that amount or paying it in rent/savings/loans for a period of a year in general. We can advise you on the amount you can borrow, the deposit needed, the cost of the mortgage each month and the insurance needed. We have a panel of property valuers, surveyors, solicitors, architects and engineers to assess the property and will advise you on each step of the way. What we offer is a hand holding service through a daunting process.