The tracker mortgage scandal has been going on for nearly 12 years. It rekindled in 2019 with banks getting heavy penalties for overcharging customers. However, further cases are still being investigated. This is the scandal that just keeps giving – Permanent TSB recently admitted that another 200 customers were wrongly
What is repayment capacity? Put simply, repayment capacity is your ability to demonstrate that you can pay a mortgage. Lenders want to ensure that you, as a borrower, will be able to make your planned repayments. Repayment capacity is different to affordability which is calculated as income and outgoings. Both
Historically Low long-term fixed rates for Irish Borrowers The long-term mortgage rates revolution started almost a year ago, with the launch of Avant Money’s ‘One Mortgage’. This product offering introduced a suite of long-term fixed rates in May 2021, including the first ever 30-year fixed rate mortgage in the Irish market. The
Getting a mortgage with bad credit is possible, but it can be harder. Irish lenders are very unforgiving about adverse information on your credit file. Firstly, your credit file is a register of any credit you may have from credit cards, loans, and even monthly insurance on your car. If
Buying a home can be an exhilarating yet daunting experience. No property will be perfect on all fronts, so there are many considerations buyers should keep in mind when viewing a property for the first time. At Mortgage123, we understand that many of you will be new to the market
Switch mortgage providers – does it make sense? With mortgage rates as low as 1.95%, many people are looking to switch mortgage providers in Ireland. Even more, a new mortgage lender Avant Money entered the Irish mortgage market in Sept 2020 with 7-year fixed rates as low as 1.95%**. This
Mortgage exceptions or exemptions are a hot topic now as house prices are not going down and demand is remaining stable. Note that mortgage exceptions do not have anything to do with the Wage subsidy scheme. Banks have their own criteria when it comes to giving mortgage approvals to applicants
The ‘Housing for All’ scheme is the Government’s new housing plan for 2030. This new housing scheme aims to increase the supply of housing by an average of 33,000 new homes per year and eradicate homelessness in Ireland. This figure is based on research by The Economic and Social Research
Firstly, congratulations on getting this far to buying a house! You have managed to get your mortgage approval in principle, and found the perfect house. However, the journey is not over yet. Setting your heart on a property can be very exciting, but getting hold of your dream home takes