Mover
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Home Movers Mortgage
When you’re ready to make a move, we’re with you every step of the way.
Moving home?
There are many reasons why you may want to move house or apartment. Your work may be taking you somewhere new or perhaps the kids are getting bigger and you need more space. Whatever your reasons, we’ll be with you on every step of your journey.
What amount can you borrow?
In general, a mortgage of up to 3.5 times your gross annual income (combined income for joint applicants) and 90% of the property value is available to Home Movers but these limits can vary so talk to us if you need to discuss your options.
| HOME MOVERS MORTGAGE EXAMPLE | |
|---|---|
| Property Price | €250,000 |
| Mortgage amount (80% of €250,000) | €200,000 |
| Deposit required (20% of €250,000) | €50,000 |
Terms of up to 35 years are available to Movers.
Are you buying or building a property with a high level of energy efficiency?
Now you can apply for Bank of Ireland’s Eco Saver Mortgage fixed interest rates.
Application Process
As steps in life go, buying a home is certainly one of the big ones. If you know what’s involved in the mortgage process, you can see it instead as a number of small, easily managed steps. What’s more, you don’t have to take them on your own. We are here to help you, providing as much guidance and advice as you want or need. Every step of the way.
Step 1: Find out how much you can borrow & get House-Hunter Approval
You will need to know what you can afford before you start looking for the right home – our mortgage calculator can give you a good indication.
We will help you through your mortgage application. If successful, we can give you a “House Hunter” approval if you haven’t found a suitable property – this gives you time to search for your new home. If your application is not successful this time, don’t give up. There may be steps you can take to improve your chances of approval – e.g. a longer savings period or a reduced loan amount. We can talk you through your options.
Step 2: Choose a location & find the right home
Once you’ve found the home that’s right for you, let us know the address and the purchase price.
Step 3: Get your Letter of Offer and appoint a solicitor
We will send a loan offer pack to you and to your solicitor. It will contain your Letter of Offer, the European Standardised Information Sheet (ESIS) with full details of your mortgage and the terms and conditions of your loan.
Step 4: Get a property valuation
We will give you the name of an approved valuer who can carry out a valuation for us before the loan is drawn down. We always recommend that you get a surveyor’s report as well, for your own peace of mind, which can uncover faults that aren’t easy to see. In some cases we may require that you get one, particularly if the house you’re buying is older.
Step 5: Arrange Home Insurance & Life Cover
At this stage, you should arrange the appropriate Life Assurance and Fire Insurance policies to protect both you and the property. These will need to be in place before you can draw down your mortgage. Ask us about our great value Home Insurance and Life Cover1.
Step 6: Exchange contracts and pay your deposit
Your solicitor and the seller’s solicitor will tie up the details.
Step 7: Draw down your mortgage
We will draw down your Mortgage and issue the funds to your solicitor to complete the purchase.
1You may purchase your Home Insurance / Life cover from another provider if you wish.
Mortgage Documents Checklist
You will need to provide key documents for your mortgage application. Ideally you should bring these documents with you when you meet us. If you are making a joint application, documents will be required for each borrower.
The lender is Bank of Ireland Mortgages. Lending criteria and terms and conditions apply. A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €613.16 per month at 4.15% variable (Annual Percentage Rate of Charge (APRC) 4.3%). APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority. The total amount you pay is €147,482.50. We require property and life insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income (4 times gross annual income for first time buyers) and 90% of the property value. A 1% interest rate rise would increase monthly repayments by €53.89 per month. The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home. Available to over 18s only. APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years.
Warning: The cost of your monthly repayments may increase.
Warning: If you do not keep up your repayments you may lose your home.
Warning: You may have to pay charges if you pay off a fixed–rate loan early.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.
Bank of Ireland Mortgage Bank u.c. trading as Bank of Ireland Mortgages is regulated by the Central Bank of Ireland
Ready to move forward with your application?
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You can also request a callback or call us on 0818 365 345. Our phone lines are open Monday to Friday from 9am – 5pm.
Bank of Ireland Mortgage Bank u.c. trading as Bank of Ireland Mortgages is regulated by the Central Bank of Ireland
