Our property blog gives advice and information on a wide range of topics, including buying and selling houses, mortgages, BER ratings and obtaining planning permission.
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Mortgage Advice: Bank Of Ireland Mortgage Packages.
This article is written as a guide only. For the latest Bank of Ireland Mortgage offers, you should
check their website.
As of 15/8/09, the Bank of Ireland website contained the following information regarding mortgage
packages available.
A First Time Buyers mortgage package features a dedicated first time buyers fund of €1 billion
and 1 year fixed rate of 2.8% APR. BOI also offer €1,000 to spend on your new home and
loan to value rates of up to 92%.
Bank of Ireland say you can expect a decision on your mortgage application within a few days.
To formally apply for a Bank of Ireland mortgage, you will need:
a recent P60, a
certificate of income from an employer, a recent payslip, photo id and
a recent utility bill.
BOI may also ask for loan statements and evidence of your own financial situation.
Self employed applicants will have to provide two years of audited accounts and confirmation that
tax is paid up to date. A valuation report will also be required on the property to be purchased.
Bank of Ireland also offers a Trade Up Mortgage, which provide bridging finance, €150 furniture
removal voucher and discounts and special offers on home insurance and mortgage repayment cover
taken out with Bank Of Ireland.
Steps involved after you have agreed a price with the Buyer,
Appoint a Solicitor
Once you have agreed a price, you should seriously consider appointing a legal representative as early as possible. Solicitors need your agreement to find and secure your property's Title Deeds if they are held by a bank or building society. The earlier this is done, the less chance of any delay in issuing Contracts at a later stage.
Take up Title Deeds
After they have received your written authority, the Solicitor will take up your Title Deeds from your Bank or Building Society. This takes about 14 days and at this stage your Solicitor will pay a scheduling fee to your Bank or Building Society on behalf of you, the seller.
Details Of Sale
The details of sale should be written once the price and conditions have been agreed by you and the booking deposit has been paid by the buyer. The details of sale contain basically what has been agreed by the buyer and seller, that is: the price, conditions of sale contents, buyer's name and address, name of buyer's solicitors and estimated closing date.
Contracts are Issued
After receiving the details of sale, your Solicitor will write the contracts and send them, together together with a copy of your Title Deeds to the Solicitors representing the buyers.
Houses & Homes for Sale | Flats & Apartments to Rent & Let | House Sharing available around these areas:
Abbeyfeale
Adare
Askeaton
Ballingarry
Ballyneety
Broadford
Bruff
Bruree
Cappamore
Castleconnell
Castletroy
Corbally
Croom
Doon
Dooradoyle
Foynes
Galbally
Glin
Kilcornan
Kilfinane
Kilmallock
Limerick City
Lough Gur
Meelick
Mungret
Murroe
Newcastlewest
Pallasgreen
Pallaskenry
Patrickswell
Raheen
Shanagolden
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