Mortgages For First Time Buyers Donegal

Are you a first time buyer in Donegal looking for a mortgage? CML Financial can help. Arranging finance can prove to be nerve-racking if you do not have the right guidance along the way. We will help streamline this process and turn what initially seemed like a daunting ordeal, into a stress and worry free experience.

First Time Buyer Mortgages Donegal

From the initial application process to the final signing of the contract, we are here to help you every step of the way.

You won’t have to worry about:

finding the right deal: as we will conduct thorough market research and find the best possible rate
knowing what documentation is needed: as one of our dedicated advisors will have you covered in your one-on-one consultations
choosing the right investment: as we will advise you on the optimal options available to you based on your budget and credit rating
choosing lenders: as we can create applications on your behalf

Steps To Prepare For A First Time Buyer Mortgage

1 - Save for a deposit

First time buyers require a deposit of 10% of the purchase price for most lenders.

2 - Prepare well in advance (6 months minimum)

Keep your current accounts well maintained, avoid credit card debt and other short-term loans.

3 - Income

Secure employment with a permanent contract is a must with most lenders. Employees should be employed for at least 12 months.

4 - Affordability and repayment capacity

Can you show the lender that you are already meeting the repayment capacity with rent payments or continuous monthly savings.

5 - Good financial management

Build up a pattern of savings, be able to display that you never use an overdraft, clear short term loans etc.

6 - Irish Credit Bureau

Lenders will check your ICB rating, so you should apply for your own report before making an application. It is best to address any issues with your ICB report at the start of the application process.