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Normal lending criteria?

While there is a wide variation in circumstances surrounding a mortgage application certain basic credit points are common to most successful applications:

1. Good Credit History
2. Age 21 or over
3. Age not greater than 70 at end of mortgage term
4. Ability to repay – as a guide repayments on all loans including your mortgage should not exceed 40% your net income
5. Secure employment
6. Continuous employment for 2yrs
7. Maximum mortgage available to Irish residents is 92%

The primary focus is on repayment capacity.

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Mortgage Advice Store Ltd is regulated by the Central Bank Of Ireland

Variable rate warning: The cost of your monthly repayments may increase - If you do not keep up your repayments you may lose your home. The payment rates on this housing loan may be adjusted by the lender from time to time.

Warning: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it

Fixed rate warning: You may have to pay charges if you pay off your fixed-rate loan early

Interest only warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period

Debt consolidation warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term

Endowment loan warning: There is no guarantee that the proceeds of the [Insurance Policy / Pension Policy] will be sufficient to repay the loan in full when it becomes due for repayment