I’m Moving Home
So, you’ve outgrown your first home – mentally, spiritually, or quite literally. Maybe all three. But it’s been a while since you’ve gone through the mortgage process – so you’re not quite sure what to expect this time round. Get the ball rolling by reading our Next Time Buyer Guide.
Our Mortgage Master would be happy to meet for a relaxed chat (and a cup of tea) whenever suits you. That might be before work, in the evening or even on the weekend; handy! Read on for all the nuts and bolts of our next time buyer mortgage (and a lovely little deal on your home insurance too!). Have a mortgage question? Request a call from your local Mortgage Master here.
How Much Can I Borrow as a Next Time Buyer?
- Things may have changed since you last got your mortgage – Central Bank Rules will now come into play, for instance. So how much you can borrow will be based on your income, your house price, and your affordability.
- You can borrow a maximum of 80% of the value of the property.
- The amount you can borrow also depends on what you can comfortably afford to repay monthly, this typically should not exceed 35% of your disposable income. It’s that comfort cushion!
- Why not use our mortgage calculator to see what you can afford?
Features & Benefits
- Competitive interest rates including Variable relative to your loan to value and Fixed rates
- For customers who are unsure of what type of rate to select, EBS provide the option of splitting the loan amount in two, so you can avail of both the variable interest rate on a portion of the loan and a fixed interest rate on the remaining portion of the loan
- Up to 80% Loan To Value (LTV)
- Up to 80% loan to value is available for a studio apartment valued at €275,000 or above, or a one bedroom property. We do not lend for the purchase of studio apartments valued at under €275,000
- Repayment term up to 35 years, subject to the age of borrowers
- You will need to be over 18 and security will be required before you can obtain a mortgage
- You will require Mortgage Protection Cover which can be arranged via EBS or you may purchase this through another Insurance company
- Keep in mind you will also need money for Valuation fees (you will need to use a valuer from the EBS Residential Mortgage Valuers panel), Legal fees, maybe a Surveyor and Stamp Duty fees. Also remember possible repairs and decoration costs on your new home.
Fixed or Variable Rate?
- We take it you’re quite familiar with either a Fixed or Variable rate at this stage.
- But times have changed – and rates have changed along with them. You can check our current rates below, and our Mortgage Masters would be more than happy to guide you.
- You can see a full listing of our current Variable and Fixed Interest rates right here.
- And if you still can’t choose? Well, you don’t have to. You can have your cake and eat it too. For customers who are unsure of what type of rate to select, EBS provide the option of splitting the loan amount in two, so you can avail of both the variable interest rate on a portion of the loan and a fixed interest rate on the remaining portion of the loan.
- If you take a Mortgage with a fixed rate of at least one year and decide to repay whole, or part early, if you convert to a variable interest rate, or, if you change to another fixed interest rate you may incur an early breakage cost payable to EBS d.a.c. You can locate information as to how this early breakage charge is calculated and in what circumstances this charge arises by selecting ‘Home Mortgages General and Regulatory Information’ below and then selecting ‘Our mortgage interest rate options’.
Four Months’ Free Home Insurance. Want Some?
- Ah, monthly home insurance. At this stage, you’re probably well acquainted. So we’re sure you’ll appreciate 4 months’ free home insurance. Yep, it’s a pretty good deal.
- This is the sort of craic that comes with four months free home insurance. Yep - that’s 36% off your first year’s home insurance bill when you pay by direct debit or with your EBS mortgage.
- You might also agree that’s it’s nice to get something a cheaper in the first year of your mortgage, when a little extra in your pocket will go a long way. Your local mortgage advisor will be happy to have a chat about this.
The EBS up to 3% Back in Cash Mortgage Offer
EBS is offering home buyersup to 3% Back in Cash. That’s as much as 3% (2% upfront and 1% in 5 years) of the value of your new mortgage if you are a first time buyer, mover, or switching your mortgage to EBS.
Yep. That's €7,500 on a €250,000 mortgage, Back in Cash. Why? Because an EBS Mortgage Master knows the mortgage process back to front – they know that that extra few bob really counts in the final ‘moving in’ stage.
Your EBS Mortgage Master doesn’t like any messing or fussing, either. That’s why you get your EBS 3% Back in Cash mortgage offer straight into the current account used to pay your mortgage, using a SEPA direct debit, 2% within 2 months of drawdown and 1% in 5 years subject to conditions of the mortgage.
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