Straight Switchers

1. The Mortgage you would like to switch is on your Principle House/Family Home

2. You are in positive equity i.e. you owe less than the property value. The lower your LTV, the more attractive the interest rate.

3. You are on a variable rate

4. The term remaining on your Mortgage is at least 5 years or greater

Not suitable for:

1. People in negative equity

2. On Buy to Let properties

3. People on Tracker rate Mortgages

4. People on a fixed rate

5. The term remaining on your Mortgage is 5 years or less

Huge savings can be made by switching Mortgage Lender.

Please Call us to find out how much you could save.

Tip: Prior to contacting us, we recommend that you check all available interest rates with your existing Lender. A Switcher is someone who currently has a Mortgage and is looking for a better interest rate.

Using a Mortgage Broker such as ourselves saves you the time and hassle involved in going directly from Bank to Bank or Lender to Lender. We will take this difficult and cumbersome process away from you personally through the work of a dedicated Mortgage Adviser, Yvonne Walsh, who will liaise with the lenders and guide you simply through the mortgage process step by step.

Buying a house and getting a mortgage can be a challenging process with many people finding it very stressful and time consuming. Working with Yvonne will make your life easier as she will answer any questions you may have and ensure that the process runs as smoothly as possible.

We deal with a select number of Lenders who have very competitive interest rates. We can advise you on the best interest rates available from these Lenders and which ones are most likely to approve your application based on their lending criteria.

At Financial Sense, we deal with the following Lenders:
• Haven (AIB)
• Finance Ireland
• ICS Mortgages

Income: Lenders will look at your annual income and some may take bonuses and overtime into account. Some may factor in rental income if you plan to rent out a room.

Age: What age you are now, what age you will be when you retire and/or when the mortgage ends.

Outstanding loans: if you have other loans or a high credit card balance this may reduce the amount you can borrow or may affect your ability to get a mortgage.

Employment status: A lender will look at whether you are in permanent employment or on probation. If you work on contract they may require you to be employed for at least 12 months with the same employer or be on a second contract with the same employer.

Residential status: Are you a resident in Ireland or a returning emigrant.

Outgoings: Lenders will take your other financial commitments, such as childcare, into consideration.

Money management: Lenders will look at your bank statements and assess things like ability to meet direct debits and standing orders, if you are using an overdraft facility on a regular basis, if there is evidence of excessive use of online gambling etc.

Savings: This shows that you have saved enough for your deposit and have the ability to save a set amount of money on a regular basis.

Credit history: This shows your track record of paying other loans in the past. A poor credit history can prevent you from getting a mortgage.

Property value: The purchase price of the home you want to buy (if you have one in mind) and the value of your current home, if you plan to sell and buy a new home.

Amount you wish to borrow: This is the amount you apply for and is the difference between the purchase price of the property and the deposit you have saved.

Guarantor: Someone acting as guarantor and agreeing to repay the loan if you can’t.

Number of applicants: Are you borrowing by yourself or with someone else.

You will need to complete an application form and supply a number of documents such as the following:

• Proof of Identity – Passport or Driving Licence
• Proof of Residence – A recent utility bill* *No more than 3 months old e.g. ESB, telephone, Credit Card Statement
• Employment Summary Detail (previously known as the P60) – you can this from the My Account facility on the Revenue website
• Last 3 payslips – 3 months payslips so if paid weekly it’s actually the last 13 weeks payslips
• Bank Statements – 6 months original continuous Current Account Bank Statements for both personal and business bank accounts (the latest dated within the last 3 months)
• Savings/Balance of Funds – 6 months continuous original Savings Account Bank Statements or e-statements (the latest dated within the last 3 months) showing accumulation of savings balances plus Any other documentation required to verify savings record and/or the balance of funds required.
• Credit Card Statements – 2 months continuous original Credit Card Statements or e-statements (the latest dated within the last 3 months)
• Evidence of Deposit – if not included on any of the above
• Existing Loans – Minimum 6 Months Statements for any borrowings held
• Accounts – Last 3 years Audited/Certified Accounts and Tax Returns
• Tax Affairs – Letter from Accountant confirming tax affairs are up to date/tax clearance cert