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Ways to Improve Your Application Process

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    Mortgage Process

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    Clarifications - How to avoid them

     

      Income Employment Repayment Capacity Bank Statement Data Error Childcare
    Reason Too high an income taken which is not supported by previous earnings history, too much additional income factored

    Previous employment history not outlined where applicant in current role <1yr

    Contract and CV not supplied where applicant is in contract employment

    		 Repayment capacity not fully evident or clearly outlined Ad Hoc large Lodgements of Withdrawals not explained/Frequent withdrawals (Direct Debits or Standing Orders) which are unclear Input errors applicants name, address, Date of Birth and Term No childcare mentioned in commentary. Commentary does not advise how children are minded free of charge or are children are in school
    How to Resolve Allow NON guaranteed additional income such as overtime, allowance or commission to a maximum of 50% where this level can be evidenced as earned over last 3 years & P21/P60s

    Include a CV style work history and current contract.

    Include evidence of last three years income (P21/P60)

    		 Haven require a clear breakdown of monthly evidenced proven affordability Highlight and explain in commentary the source of any lodgements outside of normal mandated salary and frequent withdrawals

     

    Input clients details from certified ID

    		 How they are minded / if infant or school going age until parents home from work (ECCE, Primary School)

     


    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3
    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80 3.1 3.2 3.3

     

    LTV Rate

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    Ensuring all Supporting Documents are in order

       All documentation MUST BE clear and legible in order for us to process the application       

     

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3
    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80 3.1 3.2 3.3

     

    LTV Ra
    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3

    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80
    		 3.1 3.2 3.3
    LTV Rate APRC 20 Years* 25 Years* 30 Years* 35 Years*
    <=50% 3.10% 3.2% 5.60 1.1 1.2 1.3
    >50% <=80% 3.30% 3.4% 5.70 2.1 2.2 2.3
    >80% 3.50% 3.6% 5.80 3.1 3.2 3.3

     

    LTV Rate
    PAYE SELF EMPLOYED DIRECTOR / SOLE TRADER
    Photo ID
    (valid driver's licence or passport)    		 Photo ID
    (valid driver's licence or passport)    		 Photo ID
    (valid driver's licence or passport)
    Address ID
    (valid utility bill within the last 3 months)    		 Address ID
    (valid utility bill within the last 3 months)    		 Address ID
    (valid utility bill within the last 3 months)
    Payslip
    (3 payslips if paid monthly, 6 payslips if paid fortnightly and 8 payslips if paid weekly covering previous 3 month period, including most recent payslip)    		 Audited Accounts
    (Last 3 years signed audited/certified accounts)    		 Audited Accounts
    (last 3 years signed audited/certified accounts)
    Not required if turnover is below 3 million
    Bank Statements
    (6 months current account statements)    		 Bank Statements
    (6 months current account statements)    		 Bank Statements
    (6 months current account statements)
    P60 Business Statements
    (minimum last 6 months)    		 Business Statements
    (minimum last 6 months)
    Income Certificate
    (signed, dated & stamped by employer)

    • 3 years Revenue Notice of Assessment (Form 11)
    • Confirmation of tax position from your Accountant/Revenue

    		 • 3 years Revenue Notice of Assessment (Form 11)
    • Confirmation of tax position from your Accountant/Revenue
     
     
    Some additional information (if applicable)
    Savings & Investments
    (6 months Savings & Investments)    		 Savings & Investments
    (6 months Savings & Investments)    		 Savings & Investments
    (6 months Savings & Investments)
    Credit Card Statements
    (6 months Credit Card Statements)    		 Credit Card Statements
    (6 months Credit Card Statements)    		 Credit Card Statements
    (6 months Credit Card Statements)
    Mortgage Statements
    (12 months)    		 Mortgage Statements
    (12 months)    		 Mortgage Statements
    (12 months)
    Bank Statements
    (6 months current account statements)    		 Bank Statements
    (6 months current account statements)    		 Bank Statements
    (6 months current account statements)
    Personal/ Car/ Credit Union
    i.e. any other loan agreements
    (12 months)    		 Personal/ Car/ Credit Union
    i.e. any other loan agreements
    (12 months)    		 Personal/ Car/ Credit Union
    i.e. any other loan agreements
    (12 months)
    Stamp 4/ 5
    (for non EU nationals)    		 Stamp 4/ 5
    (for non EU nationals)    		 Stamp 4/ 5
    (for non EU nationals)

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Regulatory Notice

Warning: If you do not keep up your repayments you may lose your home.

Warning: You may have to pay charges if you pay off a fixed-rate loan early.

Warning: The cost of your monthly repayments may increase.

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

Warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period.

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