What is the Mortgage Process | Bank of Ireland

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Here is a list of the key documents you will need to provide for your mortgage application

What is the mortgage process? We explain the steps involved.

As steps in life go, buying a home is certainly one of the big ones. But 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 support as you want or need. Every step of the way.

If you’re a first time buyer, you need to allow time to get yourself mortgage ready. Start as soon as you can. Because the moment you begin preparing, you’re moving one step closer to the day you move into your new home.

Step 1

Find out how much you can borrow

With our easy-to-use mortgage calculator you’ll get an indication of how much you could currently afford to borrow.


Step 2

Begin your mortgage application online

Getting started takes just two minutes. Or you can make an appointment to meet one of our mortgage specialists or mobile mortgage managers. You can set this up for the time and the place that suit you best.

Start Application

Request a meeting

Step 3

Showing what you've got

To help us make a decision on your application you will need to show that you can pay the mortgage back. We will look for bank statements and income certificates to support your application.

Documents Checklist

Step 4

Start saving for your deposit

First Time Buyers can apply for a mortgage of up to 90% of the value of a property, which means saving at least 10% of the purchase price. If you need guidance on putting a savings plan in place to reach your deposit, we’ll be happy to help. Remember to also set money aside for expenses like stamp duty, legal fees, insurance and life cover.

Start saving

Step 5

Get Mortgage Approval in Principle

Once you have your deposit and have applied for the mortgage, we can issue you with an Approval in Principle Letter if your application has been successful.

Step 6

Provide requested documents

Provide the documents as requested in your Approval in Principle letter within six months. Once we make sure we are happy with the contents of the documents and assuming your circumstances haven’t changed, we’re on to the next step.

Step 7

The Offer

Once we have given you a letter of offer, you and your solicitor will each receive a loan offer pack in the post. You should review the loan offer letter with your solicitor, sign and return it to us (along with any other supporting documentation requested in the letter of offer).

Step 8

Find your dream home

With approval secured, you can start your search in earnest, knowing that we’re ready to move the moment you are. Once you find “the one”, make an offer and let us know if it is accepted. Your mortgage specialist will give you the name of an approved valuer so that you can have a valuation carried out on the property.

Step 9

Exchanging contracts

Then it is time to pay your deposit and exchange contracts. You’ll also need to arrange your home insurance and your mortgage protection cover. These need to be in place before you can draw down your mortgage. Your mortgage specialist can bring you through this.

Step 10

Getting your mortgage funds

Once all the above steps are completed and assuming you have given us anything else required in the Offer Letter and we are happy with it, we issue your mortgage funds either to your solicitor or directly to you if you are not purchasing a property and there is no solicitor involved (we will explain this in more detail at the Letter of Offer stage).