MyMortgages.ie – Dublin

Looking for Expert Mortgage Brokers In Dublin?

At MyMortgages.ie, we provide comprehensive support from mortgage preparation and application to approval and drawdown. Our team of Dublin mortgage brokers offers tailored advice on the best rates, terms, and protections to suit your needs. Since 2005, we have been proud to serve Dublin’s home buyers. Whether you are a first-time buyer, looking to switch mortgage providers, or trading up or down, we will guide you through the process with expert advice from mortgage and finance brokers who understand the Dublin market. Our goal is to save you both time and money while helping you secure your ideal home.

Don’t stress out about home buying—let our mortgage experts find the best deal for you

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mymortgages.ie|Lending Mortgage & Finance Broker Dublin | Home Loan Advisors

Need Help? Addressing All Your Mortgage Queries!

Frequently Asked Questions

Can I get a mortgage offer before I find my property?

Yes, you can obtain approval in principle even if you have not found a property yet. This is a great option for those who want to know their budget upfront before house hunting. A home loan broker can help you understand the approval process and work with you to secure the best offer.

Should I go for a fixed or a variable rate?

That depends on you and the market conditions. A fixed-rate means the interest you pay is set for a predetermined period, typically three, five, or ten years. This offers the benefit of certainty—you know exactly how much the repayments will be. It gives you peace of mind, especially in the early years of the mortgage when your budget may be tight, childcare costs may be high, and you have considerable outlays setting up your home in terms of fitting it out and furnishings. For some, this certainty is a valuable benefit. This may not be as important to other mortgage holders. Variable rates can rise or fall following several factors, including the European Central Bank rate. The most common type of variable rate is the Standard Variable Rate (SVR). You think you might be able to increase your monthly payments or pay a lump sum off your mortgage over the next ten years, thereby reducing your mortgage term, but there may be a penalty for this if you go for a fixed-rate mortgage. Can’t decide? Mortgage advisors in Dublin can help you choose based on your preferences and risk tolerance. Here are some questions to ask yourself:

 

  • Do I prefer certainty? Do I have enough margin at the end of the month to allow for a rate rise? 
  • Do I want the flexibility to pay extra off my mortgage when I have it? 
  • Do I think it’s worth paying a little extra for certainty? 
  • Is it likely that my monthly income will vary? 
  • Am I good at budgeting?

Note: If you enter a long-term fixed-rate mortgage, you will have to grin and bear it if interest rates fall and stay low for a time. However, even if you choose a shorter term, one to three years, it can be difficult to predict what the rates will be when the time is up. This is fine when markets are low, but if they rise, your repayments could become unmanageable. It’s important to weigh the pros and cons, and a lending broker can help guide you through the options to ensure you choose the best option for your long-term goals.

Help! I’m on a fixed term contract, but I’m not permanent. Am I eligible to apply for a mortgage?

The short answer is yes. However, there is a ‘but’. As the working world moves towards a flexible model, more and more of us are in positions that don’t fit the traditional permanent pensionable mould. Lenders will look at the usual criteria: your financial management, savings record, credit history and ability to pay. The role and industry you work in will have a bearing too. Lenders tend to prefer areas such as pharmaceuticals and technology. Keep records of previous contracts and documentation that demonstrate future opportunities in your field. An experienced home loan financial advisor can guide you through the application process, making sure you have all the necessary documentation in place. Lenders’ requirements may vary, but generally, you will need:

  • Two years of financial accounts.
  • Six months of bank statements.
  • Two years of tax returns.
  • A tax clearance certificate.

Are rent payments taken into account?

Yes. If you have written records of rental payments going back over the last few years, this will certainly work in your favor. Along with income levels, credit history, and deposits, lenders look at your ability to pay. They work this out using a stress-test model. Your rent payments plus your savings (these should be regular and not sporadic) should match or exceed the requested payment. This is typically the monthly payment you would pay if your application was approved, with a few percentages added to allow for rises in interest rates. If you’re not already doing this, open a savings account and start making regular payments. The bank will prefer regular small deposits rather than larger ad-hoc amounts. Make sure your rent payments come out of your bank account and are clearly outlined in your statements. To streamline this, a mortgage and finance broker can help you present your rental history to lenders in the best light.

Do I need to know what house I want to buy before applying for a mortgage?

No. You can talk to us today, or use our mortgage calculator, to see what kind of loan you can get. Once you have that, you know what price bracket you need to start shopping in. Moreover, you can speak with a Dublin mortgage broker or use our mortgage calculator to determine the loan amount you can qualify for. Once you know your budget, you can start your home search with confidence.

How does mortgage interest relief work? First-time buyers used to be able to get mortgage interest relief, also known as Tax Relief at Source (TRS), for the first seven years. It is calculated by your lender and paid into your account, so if you owe €100 interest and you are on a TRS rate of 25%, you will only pay €75. The rates are usually 25% in the first two years, then 22.5% in years three to five, and 20% in years six and seven. This scheme is not currently available for new borrowers, however. Log on to www.revenue.ie, contact the Revenue Commissioners, or call 1890 463 626 for more information.

Mortgage Solutions For Everyone

MyMortgages.ie offers you a hassle free, efficient mortgage application process. Our customers include…

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mymortgages.ie|Lending Mortgage & Finance Broker Dublin | Home Loan Advisors

Expert Mortgage Guidance For Your Homeownership Journey

Let us help you make the right choice with the support of our Dublin mortgage brokers. Whether you are a first-time buyer, refinancing, or purchasing a new home, we offer expert advice to help you secure the best mortgage deal. Our home loan brokers are here to assist in ensuring that your journey to homeownership is smooth and cost-effective.

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