Your credit score is a key factor in determining your mortgage rates. Lenders view higher credit scores as an indication that you’re a reliable borrower, which reduces their risk. As a result, you’re more likely to receive favourable interest rates and loan terms. On the other hand, a lower credit score suggests risk, which can lead to higher interest rates to offset that potential risk. A good credit score can save you money in the long term by securing better rates.

A mortgage loan broker works on your behalf to find the best options by liaising with multiple lenders. They assess your financial situation, compare loan terms, and offer mortgage services to assist clients in securing favourable rates and equity release, saving you time and effort in the mortgage process. We also guide you through the paperwork and negotiate better terms, ensuring you make informed decisions.

All the lenders evaluate the type of property you intend to purchase when approving a mortgage. Residential properties typically offer more favourable terms, such as lower interest rates and deposit requirements. However, properties like commercial buildings, apartments, or rural homes may have risks, leading to personal circumstances, higher interest rates, or larger down payments. Sometimes it can be difficult to sort these things out, and having a knowledgeable mortgage broker in Cork can save your life!

Yes, non-residents or those with temporary status may still qualify for a mortgage, but they typically face stricter requirements and higher deposit rates. For more information, contact a mortgage broker online today!