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SO YOU’RE THINKING of buying a house…
Congratulations – even thinking about this and organising your thoughts around what to do next is a big step. There’s a lot to mull over, so well done on taking the plunge into the next phase of your life.
We’ve put together a list of some things to think about before you approach your chosen bank to discuss getting a mortgage. This is the first hurdle before you go out and take a look at the property market and find your house.
Here’s your crash course in how to apply for your first mortgage.
First things first. The very first hurdle to tackle is how much a bank is willing to offer you, hypothetically. A mortgage calculator can assess this for you in a matter of minutes, once you input your relevant information. Be realistic – and be honest with yourself.
You’ll need to give things like:
There could be a few more finer details, depending on what bank you are speaking to. You’ll also need to slot in information regarding what mortgage you would ideally like.
Ask yourself some questions to assess your situation. For example:
The mortgage a bank is willing to offer you will then inform the budget you can draw up to look for properties.
Once you have a rough guide from the mortgage calculator on how much you could borrow from your chosen bank, the next step is going in and speaking to them about it.
If you want to proceed quickly (and smoothly) with a mortgage application, it’s prudent to get together a few key documents in advance of your meeting. This will speed up the process – and no matter what bank you decide to opt for, they’ll be a necessary part of things, so it’s worth getting them organised.
Here are some of the key documents you’ll need to have to hand:
Of course, what documents your bank will need to move ahead with your application will vary hugely, but it’s safe to at least have the above ready. Here’s a more comprehensive checklist too.
Use the above to start work on putting together a folder of what you’ll need.
After all of the above, you’ll hopefully receive an approval in principle from the bank that will enable you to go out on the hunt for your new place. An approval in principle basically means a document that indicates how much the bank may lend you, based on the information you provided to them (but it’s not the official loan offer).
So now it’s all about looking up those property listings. Good luck!
The Mortgage Lounge from KBC is an event not to be missed – an evening dedicated to helping you find the right mortgage and home. To be held in Dublin’s Mansion House on Dawson Street between 6 and 8pm on 10 March. For more information or to register visit www.kbc.ie/mortgagelounge. For more information on first time buyers’ mortgages, click here.
Lending criteria, terms and conditions apply. Security and insurance are required. KBC Bank Ireland plc is regulated by the Central Bank of Ireland.
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Hailo raised it percentage take and lost taxi drivers.
When was that?just curious
Hailo charge 12% commisssion, that’s it. No €79.00 or €99.00 a week with Citycabs/Global/Lynk.
Still has over half the Dublin fleet at 7,000+
Hailo will lose more drivers if they keep uping the aunty with price and rules silly rules !
You can’t up an “Aunty”, well maybe you can. Upping the ante is another thing. lol
They do take credit card but yes you do have to sign up first
They lost me when they stooped the use of their credit card facilities for non bailout jobs/customers it was extremely handy
What is a non bailout job or customer
I think he misspelled it ……..its meant to read non hailo jobs as in you used to be able to take credit card jobs of the street now the customer has to download the app if they want to pay by card…….stupid idea from hailo…
Hailo have added the option to pre book now so that’s not a unique feature for lynk
Hailo had to add that feature because it was the next step …….and to keep up with other apps that have that feature before them ….e.g…cab:app
My husband left a cab company recently. The company sold the controlling share to the guy named above. They thought that they could sell the drivers rent as part of the business package, (Approx’ €5K per year),forgetting that the drivers hire the cab company to supply them with work, and they work for the driver. Not wanting any association withthe new owners, he fired them.
He wondered why, as he calls it “the Weakest Lynk”, chose the exact same colour branding as Hailo? Imitation is the sincerest form of flattery I suppose.
Lynk taxis. €25 free sign up. €5 per journey if you pay by card but wait there’s a €3 booking fee before you sit in the taxi. It is removed after you use your “free” €25. So, free €10 sign up.
They can’t charge €3 for booking ! €2 is max Hailo don’t charge for booking
They do. I got a taxi that usually costs less than €5 and cost me over €8. Minus the “five” free. When you contact them they say that is taken off when your €25 is up.
I always use the lynk app ( Irish owned company)
To be fair Hailo was set up by 3 guys one Irish
it was set up back 3 London black cab drivers
have your say