How to get a mortgage in Ireland Guide

Ready to take the leap and start the journey towards owning your own home? Here's what you need to know about buying in Ireland.

Top tips for getting a mortgage

Whether you’re buying your first home, switching your mortgage, or moving, the Irish Mortgage Corporation can help you prepare for your mortgage journey.

Before you start browsing the market and viewing properties, it’s important to get what’s known as an ‘Approval in Principle’ from a lender. With numerous steps involved, this process can seem quite daunting, however, we are here to help!

This handy mortgage guide breaks down everything you need to know about how to get a mortgage in Ireland.

1. Get your finances in order

When you are applying for your approval in principle, you will be asked for your most recent 6 months of financial statements i.e. bank statements, credit card statements, credit union statements. These act as supporting documentation for your mortgage application. This is good to keep in mind in the lead up to your application as you want your finances to be in the best shape possible.

2. Get your documentation together

In addition to your 6 months of financial statements, you will also need the following documents to support your mortgage application:

- Income verification details (Employed) – If you are employed, you will need a recent salary certificate which is stamped by your employer. You will also need your two most recent pay slips.
Income verification details (Self-employed) – If you are self-employed, you will need proof of your audited accounts for the past two financial years. You will also need proof of your tax returns for the past two financial years (this is your P21 or your notice of assessment).
Photo identification – One form of photographic ID. (i.e. Passport).
Proof of address – two utility bills or bank statements which show your current home address. These should be dated within the past six months.

3. Use a mortgage broker to gain full access

To ensure you are accessing the most impartial advice on the market, we highly recommend using a mortgage broker, like Irish Mortgage Corporation. At IMC, we are one of 3% of all mortgage brokers in Ireland with access to all the top lenders and all 367 products. We take the stress out of the mortgage application process by researching the entire market and reporting back with details on the current mortgage lenders, what repayment offers are available and make recommendations on what will help you save money and suit your needs.

Keep in mind, if you choose to go directly to a mortgage lender that you may not be getting impartial advice and their offering may not be suitable for you and your requirements.

At Irish Mortgage Corporation, our team is here to help and negotiate on your behalf, so as you get the lowest interest rate possible on your mortgage repayments.

4. Get "Approved in Principle"

Once you have all of your documentation ready, it’s time to apply for your Approval in Principle (AIP). An AIP is a document from the preferred lender for your application which will show the amount that they are willing to lend you. This document is normally valid for six months, after which you will need to re-apply. Curious as to how much you might be approved for? Take a look at our mortgage calculator tool.