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Getting the ball rolling

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  • 14-03-2008 4:15pm
    #1
    Shelli
    Closed Accounts Posts: 919 ✭✭✭


    I'm going to make an appointment with a mortgage broker over the next week or two.

    Can anyone please give me a list of things/documents that they most likely look for so I can get a head start getting them together.

    FTB by the way, both myself, my son and my (English) partner currently living with my parents. Don't know if any of this is relevent, but just in case. Oh and will my partner need any extra documents seeing as he's not an Irish national and has been in the country for 2 years now? Rented for first year, has been living with us since.


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    #2
    mkdon05
    Registered Users Posts: 766 ✭✭✭mkdon05


    Well some of the things you need are:
    Last 3 P60's
    Last 3 Payslips
    Last 3 months Bank Statements
    Evidence of any savings
    Last Visa Statement.
    Loan Statements (best be upfront about these as they show up on your credit check)


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    #3
    Dalfiatach
    Closed Accounts Posts: 313 ✭✭Dalfiatach


    I'm no expert but the usual really for starters:

    Proof of ID - passports, birth certs, driving licence. 2 for each of you is good, passport may be enough
    Proof of current address - utility bills, bank statements, letters from Gov e.g. social welfare/Revenue are all good. 2 of the above for each of you
    Proof of residency - residency entitlement, work permit, visa etc in Ireland for your partner (if he's from outside the EU. If he's an EU citizen he can come and go as he pleases, more or less)
    Proof of income - P60 for last tax year, current wage slips, letter from employer stating yer in full-time employment and yer salary is good.
    Evidence of current loan commitments (car etc) and other monthly outgoings.

    Are you sure you want to be buying in the current environment though? I realise it's probably the baby driving the need for a home, just be very careful, and realise it'll almost certainly be worth less than the purchase price for the next 5 years! If you really must buy, buy a family home you'll be happy in for the next decade at least, make sure the location suits family life (commute times, schools, childcare etc) and make damn sure you can easily afford the repayments if the job situation worsens, as it will for a lot of people over the next 18 months.


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    #4
    Shelli
    Closed Accounts Posts: 919 ✭✭✭Shelli


    Dalfiatach wrote: »
    I'm no expert but the usual really for starters:

    Are you sure you want to be buying in the current environment though? I realise it's probably the baby driving the need for a home, just be very careful, and realise it'll almost certainly be worth less than the purchase price for the next 5 years! If you really must buy, buy a family home you'll be happy in for the next decade at least, make sure the location suits family life (commute times, schools, childcare etc) and make damn sure you can easily afford the repayments if the job situation worsens, as it will for a lot of people over the next 18 months.

    Thats the plan anyway, we've been holding off for the last year, been a bit of a squeeze in my parents with my brother as well. We have a decent lump saved as a result though and will be getting some financial help from my family (not a hand out but a loan of some description should we need it). We both have decent salary and as you said above are planning on staying in the house for at least 5-8 years, the only way we would be moving would be if we decided to go to the UK....not likely in the forseeable future, but possible around the 8yr mark.


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    #5
    beeno67
    Registered Users Posts: 1,218 ✭✭✭beeno67


    Going to mortgage broker you will need very little. Obviously you should know what your salaries (Including bonuses & overtime), you will also need to know your borrowings and a rough estimate of your savings. You will not need any of the other paperwork mentioned earlier (P60s etc). However if you then decide after meeting advisor that you want to go for a particular mortgage he/she will give you a list of documents you need for your situation. I wouldn't worry too much about getting these things until after you have talked to advisor


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    #6
    Dalfiatach
    Closed Accounts Posts: 313 ✭✭Dalfiatach


    Shelli wrote: »
    Thats the plan anyway, we've been holding off for the last year, been a bit of a squeeze in my parents with my brother as well. We have a decent lump saved as a result though and will be getting some financial help from my family (not a hand out but a loan of some description should we need it). We both have decent salary and as you said above are planning on staying in the house for at least 5-8 years, the only way we would be moving would be if we decided to go to the UK....not likely in the forseeable future, but possible around the 8yr mark.

    Fair enough, sounds like you know what you are doing! It had to be said, some people really don't have a clue, but your head is obviously screwed on so no more lectures from me!

    Best of luck with finding a good family home, you can negotiate in the current environment so with a bit of luck you might actually pick up a real bargain ;)


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