Top Tips For Getting Mortgage Ready

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06 Dec 2019

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Organising your first mortgage can seem really intimidating, but it doesn’t need to be! It’s all about knowing what you need, how much you can borrow and who can help you. Follow these top tips to take the stress out of your home owning dreams.

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Money, Money, Money

First things first, how much can you borrow? Use the handy AIB Mortgage Calculator to see how much you might be able to get. There are rules about how much you can borrow and it is usually 3.5 times your annual salary but your Mortgage Advisor can talk you through this

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It’s Good To Talk

Drop into a branch, book a meeting with a mortgage advisor online, but whatever you do, chat to an expert who can make sure you’re off to the right start. Visit the AIB website for great tips about saving, house hunting and buying a home

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What You Need

You will need your deposit, that’s 10% of your purchase price for first time buyers. Then you need to budget for extras like legal fees, valuation reports, stamp duty and surveys. There are things that can help like the Government Help to Buy incentive, which gives tax back to first time buyers purchasing a new home (check it out, every little helps!)

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Nearly There

When you have your deposit, it’s time to make an appointment. AIB will then give you what’s called Approval in Principle, which isn’t the official contract but means you’re ready to go house hunting, yay! That lasts for 12 months so don’t panic, you’ve time to find THE one. Remember when you’re applying that the bank will look at all your finances, so if you’re on the hunt for a home, it’s time to tidy up your spending and saving!


Once you’ve found your dream home, let us know and we’ll do all the formal things like getting your contract ready. Make sure you’ve a solicitor sorted, you’ll need them for everything you have to sign. All you need then is mortgage protection and home insurance to make sure you’ve everything covered but your Mortgage Advisor will put you in touch with an AIB Financial Advisor who can help with that.

Then you’re done, it’s time to get your keys and pop a cork!


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Book an appointment with one of our Mortgage Advisors today and start your mortgage journey.


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Allied Irish Banks, p.l.c. is an authorised agent and servicer of AIB Mortgage Bank in relation to the origination and servicing of mortgage loans and mortgages. Allied Irish Banks, p.l.c. and AIB Mortgage Bank are regulated by the Central Bank of Ireland

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