Lending criteria, terms and conditions apply. The property is mortgaged to secure the loan. Life and home insurance are required. The maximum loan amount will typically not exceed 3.5 times an individual’s gross annual income.The maximum mortgage for first time buyers is 90% of the value and 80% of the property value for second and subsequent buyers.
As a general rule, loan amounts are subject to monthly repayments of a maximum of 50% of disposable income and will vary according to individual circumstances. A typical variable rate PDH (Private Dwelling House) mortgage of €100,000 over 240 months costs €579.96 per month at 3.50% (APRC 3.57%). The total amount repayable is €139,190.33. The LTV (Loan to Value) Variable rate of 3.50% (APRC 3.57%) variable is based on a loan to value of >80%-90%. A 1% rise in interest rate will increase this payment by €52.69 per month. APRC = Annual Percentage Rate of Charge and consists of a variable borrowing rate of 3.50%, valuation fee of €150.00 and security release fee of €38. Information correct as at 2nd March 2020. Rates may vary over the term of a mortgage.
First Time Buyer/Mover Offer
A contribution of €1,500 towards your professional fees (legal and valuation costs) is available subject to the following conditions:
Please ensure you review all the mortgage rate options available to you to identify the most appropriate for your personal circumstances. You may also like to get independent advice before deciding to avail of the offer from your solicitor or speak to a financial advisor.
- A fully completed Private Dwelling House (PDH) application form is submitted to KBC before 31st December 2020;
- KBC subsequently approve your mortgage application and you draw down the mortgage within the availability period set out in your Letter of Offer;
- You draw down the full amount of the mortgage on either a 3, 5 or 10 year fixed interest rate;
- You are a first time buyer or are moving house and it is your principal private residence;
- You do not exceed the maximum Loan to Value and/or Loan to Income thresholds required by the Central Bank of Ireland;
- The payment of the contribution will be made by electronic transfer within 30 days of the drawdown of the mortgage to the account from which the monthly mortgage repayment is or will be paid;
- The contribution is not available (i) in respect of buy to let properties, (ii) where you are switching the mortgage on your existing property to KBC from another lender and/or (iii) where you are availing of our tracker mover product.
In order to receive this contribution you will be fixing the interest rate on your mortgage for a period of either 3, 5 or 10 years (the fixed period). Before agreeing to fix your interest rate you should be aware of the following:-
- When you choose a fixed rate, you know exactly how much your monthly mortgage repayment will be during the fixed period.
- If your mortgage is redeemed either fully or partially during the fixed period you may be charged a break funding fee. You should consider whether a change in your circumstances might occur (such as needing to sell the property or paying off a lump sum from your mortgage) which may result in you incurring this fee. Details of how this fee is calculated is included in your Letter of Offer.
- During the fixed period you will not be subject to any interest rate increases or decreases (subject to a number of limited exceptions set out in our General Homeloan Conditions).
- On the expiry of the fixed period your interest rate will revert to our then current New Business PDH Loan to Value (LTV) Variable Rates.
We reserve the right to amend, modify, cancel, withdraw or change the terms on which this contribution is available at any time at our sole discretion.
Central Bank Mortgage Measures
The Central Bank Mortgage measures are ceilings set on the amount of money that can be borrowed to buy residential property using:
- Loan to Value (LTV) limits
- Loan to Income (LTI) limits.
The LTV limit requires you to have a minimum deposit before you can get a mortgage. The size of this deposit depends on what category of buyer you are.
- First-time-buyers are required to have a minimum deposit of 10%
- Second and subsequent buyers are required to have a minimum deposit of 20%
The LTI limit restricts the amount of money you can borrow to a maximum of 3.5 times your gross income. So for example, a couple with a combined income of €100,000 can borrow up to a maximum of €350,000.
Current Account Mortgage Discount
To avail of the optional extra Mortgage Discounted Rate (KBC’s prevailing new business fixed or variable rate with a discount of 0.20%), you must mandate your salary to your KBC Current Account (In an instance where a customer is self-employed, you must establish a monthly transfer to the Current Account to lodge an amount that is at least equal to the monthly mortgage repayment). You must also pay your new KBC Mortgage by Direct Debit from your KBC Current Account.
If you cease mandating your salary to your KBC Current Account and/or paying your KBC mortgage by Direct Debit from your KBC Current Account, the interest rate on your KBC Mortgage will increase by 0.20% i.e. the discount will no longer apply.
The optional extra mortgage discounted rate is not available to Buy to Let mortgages, Tracker mortgages, mortgage accounts which have been in arrears within the past 12 months or on the following mortgage arrears resolution options’: Moratorium, Less than interest only arrangement, Interest Rate Reduction, Split Mortgage.
In the instance where you are availing of the Tracker Mover option, the current account discount will only apply to the new business rate portion of your mortgage.
All other terms and conditions applicable to the KBC Current Account and the KBC Residential Mortgages shall continue to apply to the respective products.
To apply for this offer drop into a hub or call us on 1800 51 52 53
This isn’t an official mortgage offer but it will let you know how much you could borrow so you can start doing the sums.
This mortgage calculator is only applicable for loans in respect of your principle private dwelling and is not applicable for residential investment property loans or top ups. The mortgage calculator allows you to calculate repayments or estimate the likely extent of any loan which may be available to you, please note that such quotation is for illustrative and guidance purposes only, is non-binding and is subject to change.
It is not an offer of a loan. No quotation or estimate shall be capable of acceptance unless and until it is contained in a formal letter of offer issued by KBC Bank Ireland and signed by both KBC Bank Ireland and the customer. All letters of offer will be accompanied by the full terms and conditions which will apply to the facility in question. Rates are provided for information purposes only. They do not form part of an advertisement.
The repayment results calculated are based on current offered rates for Mortgages. Fixed rate repayment is applicable for the first year only. After year one, the prevailing new business LTV variable rates apply to the mortgage amount; this rate will be determined by the Loan to Value at initial drawdown.
Any repayment estimates provided by the 'What will my repayment be' calculation shall be exclusive of any Tax Relief at Source (TRS) receivable. The rates quoted are effective from 2nd March 2020. The switch and save calculator is for indicative purposes only and the possible saving is based on a monthly saving amount with a variable rate.
KBC strongly recommends that, before purchasing any of the above products, you click on the link below to read the Important Information.