Repayments will be based on a number of factors, for example:

• The amount you're looking to borrow
• The interest rate at which its borrowed
• How long you're borrowing the money for.

"How much do you need" - is the first question, what is the amount you're looking to borrow?
Like life, when making a mortgage application it is always best to set a goal, even if you haven't found your dream home yet...
In order to negotiate successfully with a lender it is better to have a target as the lenders then have an amount to work towards. By submitting an application looking for a maximum amount, without stating a target, the lender will default to type and offer you a comfortable maximum based on their criteria - they will not go the extra mile on your behalf to even consider an extra €10,000 or €20,000 that could be critical to your purchasing power.

The Lenders calculate the maximum amount for you by putting your basic income details into a calculator which gives them an answer. There is no human consideration involved.
But picture this: you make a mortgage application for €300,000. The Lenders calculator says that the maximum allowable is €280,000. There is a shortfall in the amount approved.

In this instance, your Redmond Mortgage & Pensions Specialist, will contact the Lender and personalize your circumstances. Your mortgage specialist will illustrate where you are in your career and show the lender the compelling reasons as to why you should be approved for the amount you require. The Lender has a target to work towards now, and is involved in the personal circumstances of your case, in a way that a mortgage application seeking a maximum could never capture.
We will manage your case on your behalf to achieve your goals and ensure that you make the most informed decision possible about your mortgage options.
You make the Plans - We'll find the mortgage.

The right mortgage can go a very long way toward making life much easier in your new home. Choosing a mortgage that fits your circumstances and lifestyle is a crucial part of the home-buying process. The right mortgage can provide stability if you want it, flexibility when it's necessary, even help you find financial freedom at a faster rate. Your Redmond Mortgage & Pensions Specialist can help you choose the best mortgage strategy for your circumstances.

But which mortgage is the right one? The choices that are available are somewhat numerous, and can be quite confusing. However, honest answers to several pertinent questions can at least narrow the choices to a few general categories.

For example, what type of income do you have? Is it level and stable, such as a weekly salary? Are you paid on commission and bonuses? How comfortable would you and your income be with a mortgage payment that could fluctuate? Also, how long do you intend to live in the house? Five years? Ten years? Thirty Years? The answers to these questions are road signs that will point you toward the most appropriate types of mortgages for you.

Generally, mortgages fall into one of two broad categories:

• Fixed-rate mortgages
• Variable-rate mortgages.

The types of individual mortgages that are available within these categories are many. Some have flexible payment options that allow you to pay interest only, principle and interest, or more.

But be careful. There are rules, conditions, and caps to most things, so spend time discussing all your available options with your Redmond Mortgage & Pensions Specialist before proceeding.

The rates that are available to you from each Lender are based on a number of factors:

The Loan to Value ratio (how much you're looking to borrow versus the Value /Price of the Property itself)

• The risk (have you any previous credit arrears in the last 5 years?)
• The stretch on your income (ie your affordability assessment)
• The amount of the mortgage itself – the amount borrowed

There are two strategies to choose from in securing the best in market rates.

Firstly, if your affordability is comfortable for the size of the mortgage you are looking to service (talk to Redmond Mortgage & Pensions about out how different lenders assess this) - then your Redmond Mortgage & Pensions Specialist will typically recommend and explain how specific mortgage products can integrate into the plans for your life, whether that is repositioning liabilities, or for wealth creation.

Once you are fully informed of your mortgage product options, your Redmond Mortgage & Pensions Specialist will provide a full market analysis and show you the most competitive Mortgage Lenders for that Product Range.

If however, the banks affordability assessment restricts the amount that you are looking to borrow, your Redmond Mortgage & Pensions Specialist will ensure that you receive the best in market rate for the amount that YOU require.

We all agree that the more lenders you can get approved from means the more options open to you and therefore the better rates available.

But hold on, every time a Lender runs a Credit Check on you they leave a footprint, so the next Lender who runs a credit check can see ALL the previous Lenders that you have applied to in the last 12 months.

If you are looking to maximise your borrowing potential and secure the best rates available, you can't be seen to be wildly submitting applications to a multitude of Lenders, as each subsequent Lender is less likely to humanly engage in the details of your case, and therefore less inclined to make an exception on your case – and offer you what you require at a rate that you want.

Your Redmond Mortgage & Pensions Specialist will guide your application to the Lenders that will offer you the Mortgage you require and give you the best in market rates.

We have access to the full range of the most competitive lenders in the marketplace, and can secure the best rates for your circumstances.

Your mortgage application is unique and your Redmond Mortgage & Pensions Specialist is there to guide you through the process.

However there are certain things you should and should not do while you await approval on your home loan. Here's a list to help keep you on track:
Do deliver all required documentation in a timely manner. You'll increase your chances of closing on the scheduled date.

Do notify your Redmond Mortgage & Pensions Specialist of any changes to employment such as pay increases, promotions, your contract, receipt of bonuses/commissions and especially if you expectedly or unexpectedly change employers.

Do keep your most current payslips and bank account statements handy as these may be required.

Do inform your Redmond Mortgage & Pensions Specialist of all other changes related to your marital status and your finances.

Do obtain Life Insurance and apply early. Your Redmond Mortgage & Pensions Specialist will be able to assist in this process. You will not be able to draw down on your mortgage without proof of this type of insurance and depending on the details of the application, there may be a requirement for a report from your GP or medical tests.

Don't change jobs. If you absolutely must, it's important to discuss such a change with your Redmond Mortgage & Pensions Specialist who can advise you how best to proceed.

Don't do anything that will negatively affect your credit report such as making late payments or making substantial purchases. Such actions can upset your mortgage affordability or can cause you to be subject to less favourable mortgage terms. Remember that lenders have up until the day of closing to pull credit reports on borrowers.

Don't apply for any other type of loan or liability as such an application may impact your mortgage approval. If you must, be sure to discuss such applications over with your Redmond Mortgage & Pensions Specialist.
Don't lose hope!

Purchasing a new home is one of the most stressful events you'll go through, but applying for a mortgage doesn't have to be.
Your Redmond Mortgage & Pensions Specialist is there to assist in every aspect of the Mortgage, from initial meetings, through to approval, and beyond the closing day itself.

Keep in mind that Redmond Mortgages & Pensions will work on your behalf and not on the behalf of the Lenders. Your Redmond Mortgage & Pensions Specialist will take care of all the interactions with the Lender. However all Lenders are different and Lenders need to protect their investments and that is why they require you to jump through so many hoops, some much more than others. Your Redmond Mortgage & Pensions Specialist will advise you in advance on the level of service each Lender provides, so if you need a speedy closing – you'll know who best to approach.

Finding the right house is only half the battle. The other half – and the more important – is figuring out how to afford a mortgage. With so many mortgage options available today, finding a mortgage is easier than it used to be but finding the right one is hugely important.
Regardless of the mortgage chosen, it’s got to be affordable otherwise the numbers won’t add up no matter how you calculate them.
At Redmond Mortgage & Pensions we will listen to your goals for the home you want to own, and work out the affordability options available to you. Here are some general tips on making a mortgage affordable.

Save, save, save

Start by saving as much money as you can to use as a down payment. The more cash you can put towards the down payment the less you will have to borrow. Making a large down payment also shows the lender that you are committed to the process because it shows you are willing to assume your share of the risk.

Check your credit

Get your credit in shape. Those applicants determined as "safe" credit risks are usually offered more favourable mortgage terms making the mortgage more affordable. A flawed credit history, such as a revoked credit card, or missed loan payments might put you into the "Specialist" market. That generally means you’ll be charged a higher rate of interest than you’d get with a conventional mortgage.
At Redmond Mortgage & Pensions your mortgage specialist will explore every opportunity to uncover the circumstances behind any previous credit problem to ensure that your application has the greatest opportunity to secure the most competitive rates in the marketplace.

Know the options

Among the many mortgage options are mortgages designed to assist certain groups of individuals such as first-time buyers, those looking to trade up, and people living on low incomes.
At Redmond Mortgage & Pensions we are familiar with all these options and have access to all these offers. Your Redmond Mortgage & Pensions Specialist will work with you to determine if you qualify for any. If you do, we will ensure that you take advantage of the best deals available in the marketplace by working with the lenders to hammer out a mortgage you can afford and benefit from all the particular options available to you.

Settle for less

Just because you’ve been pre-approved for a certain loan amount doesn’t mean you have to spend that much. Choosing a home that costs several thousand less while still making the same down payment means your mortgage payments will be lower. Even though you could "afford" to buy a more expensive home, ask yourself if such a purchase really is necessary. Sometimes it’s not.
Your Redmond Mortgage & Pensions Specialist is there to help you maximise your affordability, and that includes ensuring that you borrow no more than you need.

Add in the extras

Know what the total costs of the mortgage will be each month. In addition to the monthly mortgage payment, payments for House Insurance and Life Insurance need to be factored. Also don’t forget there are benefits such as TRS (tax relief at source) returned from the revenue!!
Your Redmond Mortgage & Pensions Specialist can help to determine the likely costs for these

We've tried to make life easier for people getting onto or moving up the property ladder. Here's how:
Lenders never give you a true 'maximum' when you apply for a mortgage. They input your details into a computer and rely on their calculators to tell you how much you can borrow.
"How much can I borrow" - is a very important question, but in order to provide an honest answer a true picture of your current and future circumstances needs to be captured. And that can't be done with an online calculator.
Call us on 061 446629 and talk to one of our mortgage specialists who will:

Review your present situation completely to determine which of the hundreds of mortgage products are best for you and your unique work profile

• We'll look at your income and expenditure and give you an offer according to what you can afford.
• We'll look at your future and anticipated earnings and negotiate an affordability boost if required.
• We'll determine the best available rate for you and your circumstances and show you how to minimise your outgoings by securing the best available deals for you.

There is a mortgage for everyone these days.The bigger the deposit you have, the better we can negotiate a better mortgage.

The amount of deposit you have is going to directly affect the amount of interest you will pay and also the costs you'll have to actually get your feet in the door of your new home.

Now borrowing less than 80% of the property is ideal. You can get the best deals in town.

The thing is most people starting out struggle to save 20%, especially in the past few years when house prices have rocketed. For example, to buy even a starter home in Dublin City will now cost easily €400,000 that means you now need to put away €80,000 plus extra costs, no easy feat!

The good news is that most lenders accept this and most are willing to lend you 90-92% of the property. There are some very competitive loans out there, even though you are borrowing such a high percentage. Most homeowners starting out today are, through necessity, borrowing this sort of amount.

So what's best?

The more you have saved up the better. It's going to cost you less to get in and the on going rates will be better.

The process of applying for a mortgage can be tedious and time-consuming, and awaiting approval is even worse. As you begin the process, you'll realize that there are several documents you'll have to provide when applying for a mortgage.

Remember, this documentation is required for all persons listed on the application. We've put together this checklist to help you gather the required documents:

• Proper photographic identification such as driver's license or passport.
• At Least 3 Pay slips from previous month and a P60 and a Certificate of Income completed by your employer
• Employment details for previous 3 years including name and address of employer, dates of employment, position(s) held, and information explaining any gaps in your employment during that time period.
• Accountants Certificate or 2 years Trading Accounts or a Self-Certified Income Declaration or Tax returns for the previous 2 years if Self Employed.
• Bank statements for all current and savings accounts going back 3 - 6 months
• If your deposit is in the form of a gift, you'll need a letter from person giving the gift stating that the money is being given as a gift and as such, repayment is not required.
• Documentation supporting any other sources of income such as separation agreements, bonus and commissions, other employment, governmental benefits, etc.
• Landlord contact information and proof of rental payment for previous 12 months (if you currently rent).
• A list of questions you may want to ask your mortgage lender - your Redmond Mortgage & Pensions Specialist can help you determine what the most pertinent questions you may require addressed to make sure you get the product that is most suitable for you.

This is a general list that encompasses a number of scenarios, YOUR situation might be that you can't provide SOME or ALL of the documents above. DON'T WORRY, your Redmond Mortgage & Pensions Specialist will determine precisely the documents required for YOUR application after the initial discussion and listening to and learning about your Mortgage Goals.

If you have a conventional 30-year mortgage, you're alongside the majority. Most people who buy homes-especially those who purchase their first one-opt for the longest term possible, in order to take advantage of lower monthly payments.
But shorter mortgages should not be overlooked, because they can represent huge savings over the life of a mortgage.

Re-mortgage for Dramatic Mortgage Loan Savings

The bulk of the money spent for your monthly mortgage payment is dedicated to paying interest. A house that sells for €400,000 today may wind up costing more than twice that price, once all the interest payments are calculated during the course of three decades. By shortening the life of the loan, the savings can be dramatically increased-often by hundreds of thousands of euro. Once you do the math, it's easy to see why shortening the term and reducing interest payments is the most popular reason why people re-mortgage.

Organize Your Finances

Another compelling reason to do a re-mortgage and change your mortgage loan's term is to organise your financial plans.

For example:

If you're 50 years old and plan to retire at age 65, paying off your mortgage in 15 years may be a rewarding strategy, both financially and personally. When retirement arrives, you'll have no more mortgage payments to make, and you can enjoy a smoother and happier transition into your golden years.

Did your credit get in disarray? Are you looking constantly at those ads on TV that promise to help you get back your credit?

Have you found that direct debit mandates were not properly set up by your bank? Agreed overdrafts were never implemented? Your lender agrees for you to take a payment break but doesn't set it up?

Mistakes do happen and for reasons that had nothing to do with you, can cause the loan account to go into arrears...

You're not alone. Every year, thousands of people get in credit trouble and are looking for answers. Many people wonder if credit agencies help repair bad credit.

Well, the answer to whether the credit bureau helps repair bad credit is a little tricky. The Irish Credit Bureau helps repair bad credit indirectly, but they do not do it directly. Let me explain.

If you are in trouble with your credit, don't start with the credit bureau. First look to your creditor, the company that informed the credit bureau about the loan arrears. The Irish credit bureau is only where your bad credit is reported. Only your creditor can remove negative information from your credit report.

We have found over the years that certain Lenders and Finance Companies will never change what they have posted to the Irish Credit Bureau, even if it was the Lenders fault that the account went into arrears.

If you find inaccurate information on your credit report, then you can contact the credit bureau and get it fixed.
Most lenders will act to correct any mistake and amend your credit report immediately however, if you experience problems or delays or if your lender fails to put things right for you, you can consider making a formal complaint and referring the matter to the Office of the Data Protection Commissioner.
When it is fixed, your credit report will improve. So, technically, credit agencies help repair bad credit. But you are responsible for finding the incorrect information and taking the matter up. Your Redmond Mortgage & Pensions adviser can help you with this process.

We all understand that mistakes can happen, sometimes it's too easy to live in the now and push your borrowing capacity to the limit.

If you have found that your credit has been stretched, and you are having difficulties in making your repayments every month, then it is important to act now.

There are a number of specialist mortgage lenders in the marketplace who will allow you to address your current bad credit scenario and turn it into a good mortgage.

While some of these loans may not look good on paper compared to the type of loans typically offered for homeowners, they may be the only solution for you right now.

Here's why:

Higher rate is only a short-term penalty. A client with a poor recent credit history generally is charged a higher rate than for a typical client, but don't let that sway you.

Unless you address the issue, right now, your credit rating could deteriorate further.

But a specialist mortgage doesn't have to be a lifelong sentence. Refinance to a specialist mortgage, pay off your bills in a steady manner, and then refinance to a better rate a few years down the line when you've improved your credit history.

Consolidation is critical. Even though most bad credit loans carry a higher interest rate, they still beat the outrageous rates charged by credit card companies. If you have several credit cards or loans floating out there with high balances, ask your Redmond Mortgage & Pensions Specialist to run the figures for you. You'll be surprised at how much even a bad credit mortgage can save you long-term versus the same amount of debt carried on credit cards and personal loans.

While too much "living in the now" may have put you in a bad spot, "acting now" and getting a specialist mortgage could be the first step on the road to financial recovery.

Bad credit doesn't like to be ignored. If you don't take steps to repair your history, the problem will increase in size and scope and eventually deliver a crippling blow to your financial life.
Ever hear a strange noise in your car's engine, like an unfamiliar rumbling or a bizarre squeak? If you do, you have two options: either drown out the sound by turning up the radio, or bring the car into a mechanic. If you choose the latter, chances are that you'll have a much healthier car over the long haul.
A bad credit history is like that noise in your car. If you ignore the problem, your finances could one day endure a major breakdown. Here are some tips for mending your history and changing some bad habits:

• First, keep in mind that you do have options. Most lenders today offer bad-credit mortgage programs, and they compete quite aggressively with one another. Your Redmond Mortgage & Pensions Adviser has the knowledge of your options to make sure the Lenders don't take advantage of you .
• Start by paying on time. Late payments wreak havoc on your credit score. Be particularly careful to pay mortgages, loans and credit cards promptly. Pay your bills on time. Enough said, there's no better way to boost your score.
• Cut the clutter in your wallet. You really only need to keep two credit cards, so cut up the rest. Pick up one card that has a good rewards program, and carry another for emergency purchases. Anything more than that is difficult to keep track of, and may also serve as a temptation to overspend.
• Bring any late or missed payments up to date as quickly as possible. Your credit record takes into account not only your late payments, but just how late they are; for instance, whether they're 30, 60, or 90 days past due.
• Steer clear of judgments, revoked credit cards, and repossessions. These will all appear on your credit report for years. They may not stop you from getting a loan, but you can expect a bank to charge you a higher interest rate.
• Re-establish a solid payment history. There are two ways to do this. The first is to ask a family member or friend to co-sign for a loan. This can be a rather embarrassing exercise, but the responsibility of having to repay someone close to you may help you develop some financial discipline. The second is to apply for a small, secured loan. The interest rate might be high, so make sure that you always have enough cash on hand to make your payment.

It's going to take some short-term pain to improve your long-term financial prospects. But once you've tuned up your credit history and acquired the spending and payment habits necessary to maintain a good credit score, your finances will run like a well-oiled machine.

If you've had the same loan with the same Lender for two years or more, then you are paying too much interest... even if you have a tracker mortgage.
Your Redmond Mortgage & Pensions Specialist will show you how to leverage off of the increased value of your property TODAY. By lowering the Loan to Value ratio, we can secure much, much better rates, and doing so now, makes sure you are maximizing the high current valuation to secure a much lower rate.

A slight adjustment in the interest rate on your mortgage can drastically affect the overall cost of purchasing your home over time. For that reason, homeowners are re-mortgaging to avoid higher variable rates.
But mortgages can do much more than simply help reduce rates. That's why it's a good idea to regularly review your mortgage and consider refinance options in relation to your overall financial picture. You may find a variety of ways that mortgage refinancing can save you money while offering increased convenience and simplicity.

One bill only

One of the prime considerations when looking for ways to reduce your debt is the burden of costs that are directly or indirectly related to servicing that debt. Banks and credit card companies, for example, are becoming increasingly aggressive about adding miscellaneous fees and service charges to customer accounts, while simultaneously cutting back on the quality of their customer service. All of these factors contribute to the overall cost of consumer debt.

Your time is valuable, and wasting it while dealing with unresponsive customer service departments from your current Lender costs you money and peace of mind. Let Redmond Mortgage & Pensions help.
If you're looking for ways to improve your financial picture, call a Redmond Mortgage & Pensions Specialist on 061 446629 who will look at the whole picture, not just a snapshot of your outstanding balances and current rates.