It's your Mortgage Day!
No time to watch the video? No problem. We’ve summarized some of the key points you should know:
You can still dip into your savings, just not for making a big splash. The important thing is to be able to demonstrate that you’ve a regular savings habit. So if you can save €1,000 a month it shows a bank that you can pay a mortgage of €1,000 a month. Any rent payments will also be taken into account for your overall afordability.
Even the odd trip abroad should be fine, as long as it isn’t eating into your savings.
If you’re self-employed you’re considered the same as anyone who is a PAYE (Pay As You Earn) employee. The only difference is that rather than a record of your wages you need to provide two years of audited accounts.
Remember that although ‘Approval in Principle’ is really positive, it isn’t a guarantee you’ll get a mortgage. You still need to continue meeting all the conditions asked for, supplying any documents needed, and keep up your good money habits.
You can apply for a mortgage from a bank where you’re not an existing customer.