Moving House Mortgage Advice

Moving home can be a stressful time. Let DW Financial help make the process as straightforward as possible for you by obtaining the best rates available. Let us guide you through the steps from gathering the documents you need to getting your new home.

Understanding Moving House Mortgages  :

  • Second time buyers can borrow up to 80% of the purchase price as standard. In some cases you may be able to avail of 90%.
  • The 20% deposit you must provide towards the purchase cannot come from other lending. It must be from your own savings, equity from the sale of your house and/or a gift from a family member.
  • Use our calculator to see how much you can borrow in line with your income.
  • Your current accounts must be mortgage ready such as no referral/unpaid charges. Debbie can guide you in relation to what you need to be aware of.
  • Other borrowings can affect how much you can borrow as it reduces the amount of disposable income you have available to repay the mortgage.
  • Approval in Principle is a letter from a lender confirming the amount you could potentially borrow based on your income and other financial commitments. This Mortgage in Principle is needed to put down a booking deposit.
  • Letter of Offer is the official letter issued by the lender advising that they are willing to offer X amount of a mortgage based on all financial documents submitted and underwritten and the value of the property you are looking to purchase. Letters of offer are issued after the valuation has been done.

Switching your Mortgage to another lender

Can you move your mortgage without moving home?  Yes you can!  You can shop around for the best rates available or let DW Financial do the hard work for you.

The questions you may have regarding mortgages:

  • Your current accounts must be mortgage ready such as no referral/unpaid charges. Debbie can guide you in relation to what you need to be aware of.
  • Other borrowings can affect how much you can borrow as it reduces the amount of disposable income you have available to repay the mortgage.
  • Approval in Principle or Mortgage in Principle is a letter from a lender confirming the amount you could potentially borrow based on your income and other financial commitments
  • Letter of Offer is the official letter issued by the lender advising that they are willing to offer X amount of a mortgage based on all financial documents submitted and underwritten and the value of the property you are looking to purchase. Letters of offer are issued after the valuation has been done.

Debbie O’Neill

DW Financial Mortgages Advisor