A.E.M.A.

Obtaining approval – How the process works

Buying a will be one of the most important decisions you will ever make, both emotionally and financially. We help many buyers purchase property every year, be it their first home, investors or those looking simply to move, and we can help you too!

So where is mortgage lending at in the Irish Market today. Well the media in Ireland likes to portray the message that you cannot get a mortgage. This fact is simply untrue. Our member have approval rates on average in excess of 80%! So 8 out of every 10 applications are getting approved. This is fact and this is from a group who processed in excess of €200 million in mortgages in 2012!

So where do you start? Let's take the basics in terms of how much you can borrow on a property. It is not widely known but up to 92% finance is still available! A lot of Buyers set their budgets to meet a deposit of 10% which is great but where possible with approval at 92% it leaves a little of your own savings to allow you to put your mark on your new home!

We understand this process can be stressful and that's why we aim to hold your hand right the way through the process dealing with estate agents, solicitors and of course the banks. This is our area of expertise and we endeavour to make sure you enjoy the process of finding your home!

We offer honest, clear advice and access to the most competitive market rates via our panel of lenders but our focus in this process is your satisfaction. We aim to secure the right deal for you. If you go direct to a bank they can only offer you their product and rates. All members of AEMA have multiple agencies with Irelands leading lending institutions meaning you will get to chose who you want to have your mortgage with!

As you begin your search for your new home it is always important to pay close attention to how the lenders will view your application. I'm sure you have heard a lot recently about how it can be difficult to secure a mortgage but in our experience if you present the application as the lender wants it then you will have no difficulty securing the finance you want. So take a look at a few simple items that the lenders will look at in assessing your application;

• Full time permanent employment
• Strong savings record for a period of 6 months
• Evidence of rental payments (if applicable)
• Good current account maintenance
• Sufficient contribution to cover deposit

These are just a snapshot but if you can present a strong application with good savings or rent payments or a combination of both then you are giving the bank a picture that you can meet the repayments you are looking to take on and that is key to the success of your application. We will ensure your application is presented in the best possible manner to ensure you are successfully approved!

So why dont you click on the link and find a member near you who will be able to help with your application.

How can AEMA help?   Find a member