Understanding The Mortgage Process

Ways to Improve Your Application Process

Mortgage Process

Step: 1 - Pre AIP Decision
  1. Application received
  2. Submit to Haven Online
  3. Complete AIP Checklist - with 8 DIGIT Haven Reference
  4. Verify AML - "Photo ID & Address ID
  5. POST completed documents to Haven
  6. If in doubt consult with your Business Manager
Step: 2 - Clarification based on submission
  1. Clarification received after initial assessment
  2. Reply and return the case to Haven
  3. If in doubt consult with your Business Manager
Step: 3 - Post AIP Decision
  1. AIP received
  2. Satisfy all the conditions
  3. Customer arranges valuation
  4. Promote loan to offer
  5. POST complete documents to Haven
  6. If in doubt consult your Business Manager
Step: 4 - Cheque Issue
  1. Cheque issue
  2. Refer to workshop booklist prior to submitting conditions
  3. If in doubt consult your Business Manager
  4. Funds issued within 48 hours on receipt of final document received & approved

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)

Ensuring all Supporting Documents are in order

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

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)
Most recent statement of earnings e.g. Employment Detail Summary (formerly P60) or P21 to confirm your earnings history 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)
Regulatory Information

Lending criteria, terms and conditions apply. Over 18s only. Security may be required.

  • 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, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
  • WARNING: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period.