Mortgages
Hession Life & Pensions Ltd is registered as a Mortgage Intermediary with the Financial Regulator and is an agent for KBC Homeloans (Formerly IIB), PIBA Mortgage Services Ltd, Brendan Kelly Irelandmortgages.com.Usually people's first introduction to mortgages is when they are planning to buy their first home. It can be a daunting experience. But with careful planning and good sound, independent advice the journey can be made very simple.
For any mortgage hopeful the first thing you need is an income from permanent employment. You will not be considered if you are in temporary or part time employment. Proof of income will be required and a P60 or 3 year audited accounts if a company director of your own business or self-employed.
Mortgages
Q. How much can I borrow?
A. You can borrow from up to 4.5 times your salary. On top of that, if you earn regular bonuses or overtime, they are considered too. And if two of you are buying a home together you can borrow on the strength of both your salaries. You'll get up to three times the bigger salary and up to one and a quarter the smaller salary. In the current climate the type of employment you are in is also important. It is difficult for employees in sectors like construction, engineering to get a mortgage at the moment. To work out the cost of a mortgage try calculator
Mortgage Interest Relief: This is another gift from the Government - you will get tax relief on the interest you pay at the standard rate, i.e. 20%. This relief is now deducted by the building society/bank at source so you pay the net amount. Changes in the relief were announced in the budget in April 09. Now relief is only available for the first 7 years of the mortgage.
The Costs: One of the first costs is the valuation report, which is around €130.00. Next comes your solicitors costs and this you should discuss with your solicitor, allow 1% approx. Finally we charge a fee where no commission is paid by the bank or building society, this is 1%.
Commercial Property Investment
We also negotiate commerical loans for development properties with major banks
For more information contact us
