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Step
1:
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Pre
Approval -If you are in the process of looking
for a suitable property, you should firstly
complete our Pre - Approval Enquiry Form and
email by return. Once we have received your
enquiry we can get an indictation of your
situation and advise you how to proceed.
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Click to Pre - Enquiry
Form
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Step 2:
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Once you
have made an offer to buy, it will be necessary
for you to make a formal mortgage application.
It's at this stage, that we will do a thorough
search of the lenders we deal withto provide
you with the mortgage best suited to your
needs.
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Step
3:
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The bank
will carry out various checks including a credit
check through the Irish Credit Bureau, which
records all loans taken out through all finance
houses(and rates the loans accordingly). Once
they are satisfied, most banks at this stage,
will issue a 'provisional approval letter' and
a valuation will then be done on the
property.
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If the
property is new, you should insist on the
HB47(structural guarantee-HomeBond) form your
builder. If the property is old, it is prudent
that you have your own survey done to highlight
any defects with the
property.
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Step
4:
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Once the
valuation is completed a formal 'offer letter'
will be issued to you and your
solicitor.
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Step
5:
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If your
solicitor is satisfied with all the legal
aspects of your purchase - title deeds,
boundaries etc. - you are in a position to put
down the balance of 10% of the purchase price.
Remember signing 'unconditional contracts' can
result in the loss of your deposit if you
withdraw from the
purchase.
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Step
6:
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You will
need to arrange mortgage protection &
property insurance. Here at Mortgage Xpress we
can provide you with a comprehensive choice of
life insurance companies.
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Step
7:
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When
property is ready, you must carry out your own
snags list and inform the lender to do a final
survey. Your solicitor will then requisition
(order) the cheque and prepare the mortgage deed
once he is satisfied that everything is in order
including house and life
insurance.
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Step
8:
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Keeping
your fingers crossed there are no last minute
hitches, you should then receive the keys of
your new house.
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Step
9:
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Congratulations and may we wish you
well in your new
home.
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Remember, if in a few years time,
your are thinking of extending your property or
moving on - talk to us at Mortgage Xpress for
the very best
deals.
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