mortage-dublin

Mortgages

The Mortgage Process

Make an Appointment.

The first step on the road to your new home is to make an appointment to meet with one of our expert advisors. Our office is located on South William Street, in the heart of the city centre.

Our office hours are 8am to 7pm Monday to Friday. We can arrange morning, lunchtime or evening appointments to suit your schedule and cause as little disruption to your working day as possible.

The Fact-Find Meeting.

Our initial consultation, or “fact-find” meeting generally lasts between 1 to 2 hours. This will involve a thorough review of your financial circumstances and objectives. Buying a home is one of the biggest financial commitments many of us will ever make and so we will also answer in detail any questions you might have about the mortgage and home buying process.

 

At Frank Lenny Financial, we only advise and give recommendations after this initial meeting. This enables us to give tailored advice, specific to clients individual circumstances.

 

There is no charge for this initial meeting. This gives our clients the opportunity to decide if they wish to proceed with an application, before incurring any costs.

Processing your Application.

Once you decide to proceed with an application, we will then compile a very comprehensive requirements checklist, so that you know exactly what documentation you will need for your individual application. Our own-branded documentation is accepted by all of the lenders we deal with and this leads to a much reduced workload for the client.

Once we have the documentation we need, we can then begin to package your application. Through a combination of experience, up to date market knowledge and cutting edge software, we will then present your application to the lender(s) in the strongest form possible.

Approval in Principle.

Should your mortgage application be successfully approved, you will then be issued with an Approval in Principle document. This document is not specific to any given property, and it will let you know exactly how much you have been approved for and with which lender. This allows you enter the market safe in the knowledge that your funds are in place and with the confidence to begin bidding on properties.

At Frank Lenny Financial, we have a wealth of experience in assisting clients navigate the complicated process of buying a house. It is important to remember that estate agents act for the property vendor, and not the purchaser. Many of our clients appreciate the peace of mind of having somebody in their corner they can rely on to guide them through this aspect of the process.

Full Loan Offer.

Once you have chosen your new property and have had a bid accepted, we will then progress your application to a Full Loan Offer. The Full Loan Offer is the formal legal document which will enable you to sign binding legal contracts with your solicitor to purchase the specific property you have chosen. We will arrange for the Lender’s valuer to carry out their property valuation, and answer any queries you may have in relation to other property surveys.

At this stage we will also usually have a second meeting to discuss once again the specific details of the mortgage you are taking out, such as term, interest rate, and any special lender incentives you may qualify for. Details like these can change week to week in the current market, and so we will continue to make sure that your mortgage is the best fit for you and your circumstances.  We will also discuss the remainder of your closing requirements, these can include insurances, both property and life, as well as any specific conditions attaching to your particular offer.

Once we have finalised these closing requirements, we then continue to liaise with your solicitor . ensuring that they are in receipt of everything they require to complete the purchase in line with the closing date agreed between your solicitor and the vendor, While at the same time continuing to work with the lender to ensure a timely issue of the mortgage cheque.

Collect Your Keys

Now comes the fun part! Once all the legal documents are signed and the funds have issued, you can collect the keys to your new home!. All you’ll have to do is turn the key and walk through the door.

WARNING: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.

WARNING: The cost of your monthly repayments may increase.

WARNING: If you do not keep up your repayments you may lose your home.