that put you first
moving up or down or investing - buying a property can be an overwhelming journey. We are here to help with expertise and understanding.
I’m a first time buyer
We understand that buying your first home is a huge decision and the mortgage process can seem overwhelming at times. At HC Financial our mortgage advisors are here to help you every step of the way.
How much can I borrow?
- Banks can now lend you up to 4 times your gross salary and up to 90% of loan to Value (LTV) – that’s your annual income before tax. If it’s a joint application, that’s your combined gross income. … Your mortgage still needs to be within 4 times of your income/combined income.
Saving for your deposit
- As a First Time Buyer you will need a deposit of at least 10% of the house price.
- Get into the habit of saving a regular amount to demonstrate your repayment ability
Searching for your new home
- Know how much you can borrow before you start your house search
- Look at some properties to get an idea of the cost of the home that you want and the area you would like
Apply for your Mortgage
- In order to submit your application you will need to provide the documentation outlined here. Bring these along with you to your appointment with us and we will talk you through the process.
Find and Buy your home
- Once you have found the perfect one for you – let us know
- You will need a valuation and sign your documentation with your solicitor
- You need to arrange Life Insurance & Home Insurance. We can help you with this
- Your solicitor will arrange the transfer of funds and collection of keys to your new home
Your Mortgage Journey
Day 1 – Book an appointment
Submit your application (Allow up to 2 weeks to gather all your required documentation)
Receive credit approval in principal (This is usually available within 3 – 4 working days)
Letter of Approval (Once you find your dream home, submit the valuation and we will issue your solicitor with the loan information you need to complete your purchase)
Call us on 091 788000
Email: admin@hcgroup.ie
Take the first steps to owning your own home
We are here to help you!
Switching your mortgage could save you money
Every year hundreds of thousands of people review their electricity supplier, their mobile phone supplier and their Satellite TV supplier –
Why?… to get a BETTER DEAL!
You can do the same with your Mortgage!
Ideally you should keep a regular eye out for better mortgage deals.
New ones are coming on to the market all the time and if you’re not locked in to a fixed or discount rate deal with an early repayment charge, it could be worth your while changing lenders (remortgaging) at any time.
Take advantage of our FREE mortgage review service and see if you are on the best rate or if you can get a better one!
You could be making some real savings.
- Got grand designs on some home improvements?
- Want to put a little aside for a rainy day?
- Maybe paying off some bills is what you’ve got in mind?
Give our team a call today and see if we can save you some money!
Call us on 091 788000
Email: admin@hcgroup.ie
Take the first steps to owning your own home
We are here to help you!
Self Build
Building your home is an exciting time. It’s your chance to build the home of your dreams.
We’ve been helping our customers to build their own homes for over 30 years. We know every step of the process, so if it’s something you have always wanted, our experienced mortgage consultants are here to help you. .
Whether you have a site with full planning permission or you have just started saving your deposit, we will take you through all you need to know.
Call us on 091 788000
Email: admin@hcgroup.ie
Take the first steps to owning your own home
We are here to help you!
How it all works
Staged payments
One of the differences between a self-build mortgage and a standard mortgage is stage payments.
Advantage of staged payments for you
By releasing your funds in stages you only pay interest on what you’ve actually drawn down, not on the whole amount
How Staged payments work
Each stage must be certified by your assigned certifier and requested through your Solicitor
What else you need to do
As part of you build you’ll need to have appointed an Architect, Engineer or Surveyor. They will act as a “Construction Specialist” and will be able to give you advice throughout your build
Trading up or moving house
You have already taken that first step onto the property ladder, now maybe you need a larger home for your growing family or just wish to move to a better area or your work is taking you elsewhere. Whatever the reason we are here to help you.
How much can I borrow?
In general, a mortgage of up to 4 times your gross annual income (combined income for joint applicants) and 90% of the property value is available to Home Movers but these limits can vary so we will need to find our what your individual circumstances and needs are before we can discuss your options.
Call us on 091 788000
Email: admin@hcgroup.ie
Take the first steps to owning your own home
We are here to help you!
Top up Mortgage
Whether its for home improvements or you want to help a family member buy a new home if the balance of your current mortgage is less than the current value of your home you may be able to use this equity to borrow an additional mortgage, to help with these expenses and more.
What is a top-up mortgage and how it works
Example: If your home is worth €400,000 and your mortgage is €200,000, you could borrow an additional €180,000 (up to 90% of the current value of your home) to spend on things like improving your home or paying inheritance tax on a property.
This is called a top-up mortgage and it’s a way of borrowing money against the current value of your home. It is an additional mortgage loan to the one you have so it can have a different interest rate, be paid back over a different time period and even have a different repayment date to your current mortgage. Your current mortgage doesn’t change.
What can I use a top-up mortgage for?
The equity in your home can be used to pay for:
- Home improvements
- Inheritance tax on a property
- Separation agreement payment
- Support for family buying a home of their own.
How much can I borrow?
- Borrow from a minimum of €10,000. The maximum depends on the current value of your home, what you can afford to repay and what you plan to do with the money.
- Choose a term of up to 35 years (to a maximum 68 years of age).
Call us on 091 788000
Email: admin@hcgroup.ie
Take the first steps to owning your own home
We are here to help you!
Considerations with a Top up Mortgage
Depending whether you stay with your existing lender or want to consider a new lender, you need to fill in a new application and give documents like copies of your payslips, proof of ID and expenses. Your existing lender or new lender will still need to ensure that you can meet the additional repayments.
There may be some additional costs:
- To borrow against the equity in your home you’ll need to have your home valued by an approved valuer.
- You will need a solicitor to witness documents such as the Letter of Offer and the Family Home Declaration.
- Your home insurance and/or life assurance costs may increase. You should contact your insurers to check if the additional loan amount affects your existing cover.
- If you are planning home improvements you need to let your home insurance provider know. If you need to move out of your home while the home improvement work is carried out additional insurance may be required to make sure your home is fully protected.
- You should always get independent legal advice
Required Documents
Here’s a list of the documentation you will need to bring along to your initial meeting
If you are an employee:
- Signed and stamped salary certificate(60KB)
- Your Employment Detail Summary (P60) and 2 of your last 3 payslips
- Your personal bank account statements for the past 6 months
If you are self-employed:
- Your most recent Audited / Certified Accounts (2 years)
- Six months’ recent personal and 6 months’ business bank statements
- Confirmation from your Accountant:
- that your tax affairs are up to date;
- of your current year earnings and;
- that no significant changes have occurred in the business since the date of the last accounts.
If you are a Non Resident Buy–to-Let Mortgage Applicant
All applicants will be required to provide acceptable proof of compliance with the €75,000 minimum income requirement. Income may be verified with reference to one or more of the following:
- Salary Certificate(60KB)
- Payslips (2 of most recent 3)
- Statement of Taxes (Employment Detail Summary (P60) equivalent or Tax Balancing Statements)
- Accountants Confirmation
- Audited / Certified Accounts
- 6 months Bank Statements showing minimum 6 salary credits at the required level
If you are a Self-Build Mortgage Applicant
- Evidence of your contribution, such as your savings or gift of funds or a site to build on (your mortgage consultant can provide information about what type of evidence you need to provide)
- An Ordnance Survey Ireland or Property Registration Authority style site map – your construction specialist will be able to help you with this
Call us on 091 788000
Email: admin@hcgroup.ie
Take the first steps to owning your own home
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In addition, to meet our regulatory requirements, we also need you to provide proof of name, proof of your address and proof of PPSN
Photo Identification
We can accept an original of the following documents:
- Your current national passport or
- Your current valid Irish, UK or European drivers licence (with photo) or
Proof of address
You can use any of the following:
- A utility bill (dated within the last 6 months)
- A bank or building society statement issued in the last 6 months
- Your Determination of Tax Credits for the current year
- Your original household/health or motor insurance documents (less than 12 months old)
Proof of PPSN
You can use any of the following:
- Correspondence from the Department of Social Protection or the Revenue Commissioners showing your PPSN
- Payslip, Employment Detail Summary (P60)/P45, Statement of Liability (P21), Tax Assessment or Notice of Tax Credits
- Medical Card/Drug Payment Scheme (DPS) Card
Please note: CIS Public Services Card cannot be used to verify PPSN.