Lorraine Longmore (LIB QFA)

September often feels like a natural reset point. The summer has passed, routines have settled and many people begin to think more seriously about the months ahead.

It is also an ideal time to look at your mortgage plans from all angles – whether you are hoping to buy a home, considering a move, thinking about switching your mortgage or simply reviewing how your circumstances have changed since you last took out a loan.

Planning to buy?

If you are hoping to buy a home within the next six to twelve months, now is a good time to take stock.

Ask yourself:

How much have I saved so far?
What deposit will I need for the type of property I am targeting?
Do I understand my likely borrowing capacity?
What other costs will I need to cover, such as legal fees, valuation and stamp duty?
Is my savings pattern consistent and sustainable?

First-time buyers generally need a minimum deposit of 10% of the property price, subject to lender criteria and Central Bank mortgage measures. You will also need to demonstrate repayment capacity through your rent, savings, and account conduct.

If you are further along in your planning, you may want to consider:

Whether your employment situation is stable.
Whether you have any outstanding loans or credit commitments.
Whether your credit history is clear.
Whether you are eligible for any Government supports, such as Help to Buy or the First Home Scheme.

Taking these steps now can help you enter the market with greater confidence and a clearer budget.

Thinking of moving?

If you are considering moving home, September is a useful time to review where you stand.

You may want to understand:

The likely current value of your property.
The amount outstanding on your mortgage.
How much equity you may have available.
How your circumstances have changed since you first took out your mortgage.

Your original mortgage may have been based on different income levels, interest rates, family circumstances or future plans. A review can help you understand whether your current mortgage still suits your needs or whether a different structure might be more appropriate.

You may also want to consider:

Whether you want to trade up, downsize or relocate.
How moving costs will affect your budget.
Whether you need to bridge between selling and buying.
Whether you would benefit from speaking to a mortgage advisor before listing your property.

Has your life changed?

Major life events can have a significant impact on your mortgage plans.

You may have:

Had a baby or welcomed another child.
Changed jobs or experienced a change in income.
Moved from PAYE employment to self-employment.
Taken on additional financial commitments.
Seen your household income increase or reduce.
Experienced a change in your living arrangements.

Any of these changes may mean that your original mortgage plan no longer fits your circumstances.

A review can help you understand whether you should:

Adjust your repayments.
Consider switching your mortgage.
Explore overpayment options.
Reassess your protection needs.
Plan for a future move or purchase.

Even if you do not plan to make an immediate change, understanding your position can help you make more informed decisions in the months ahead.

Planning to buy in 2027?

If your goal is to buy in 2027, the steps you take now can make a meaningful difference.

You may want to:

Set a clear savings target for your deposit and purchase costs.
Review your spending habits and identify areas where you can save more consistently.
Build a steady savings pattern that demonstrates repayment capacity.
Check your credit history and address any issues early.
Understand how much you may be able to borrow based on your income and commitments.
Consider whether your employment situation is likely to change.
Think about the location, type and price range of property you are targeting.

Small, consistent steps over the next six to twelve months can put you in a stronger position when you are ready to move.

Is it time to review your current mortgage?

If you already have a mortgage, September is a good time to ask whether your current deal still makes sense.

You may want to consider:

Whether you are on a competitive rate.
Whether your fixed rate is coming to an end soon.
Whether you could reduce your monthly repayments by switching.
Whether you could shorten your mortgage term by making overpayments.
Whether your mortgage allows the flexibility you need.

Switching your mortgage can sometimes reduce your monthly repayments or allow you to pay off your loan more quickly, depending on your circumstances and the rates available. A review does not commit you to changing your mortgage, but it can help you understand your options and decide whether action is worthwhile.

How Irish Mortgage Corporation can help

At Irish Mortgage Corporation, we can help you review your mortgage plans from every angle.

We can:

Assess your current savings and deposit position.
Estimate your potential borrowing capacity.
Review your current mortgage and compare available options.
Explain how life changes may affect your mortgage strategy.
Help you plan for a purchase in six to twelve months or in 2027.
Support you through the full mortgage journey, from initial enquiry to drawdown.

Our advice is free to clients, and we work with multiple lenders to identify suitable options based on your circumstances.

If you would like to review your mortgage plans this September, contact Irish Mortgage Corporation for a free, no-obligation chat. We can help you understand where you stand today and what steps may help you achieve your goals over the coming months.