Mortgages

CMCC Financial Solutions Ltd is an independent mortgage intermediary. Our strategy is to make it easy for customers, first time buyers, trader uppers, refinancing and investors, to understand mortgages and make the right decision in terms of their property finance needs.

First Time Buyers

The maximum lending institutions are prepared to advance to first time buyers is 90% of the property purchase price up to €220,000 and 80% of the amount in excess of €220,000. First time buyers are required to contribute a minimum of 10% of the purchase price towards their property purchase. All applicants must demonstrate they can afford the mortgage applied for, underwriters will stress test the mortgage amount by adding 2% to the actual variable lending rate and applicant’s bank account statements must reflect an affordability to meet the repayment amount.

Ideally lending institutions like to see 5% of the deposit saved by the applicant, the balance can come from the following sources:

  • Personal savings
  • Parental gift, or
  • Combination of both

If you are not a first time buyer, the maximum lending institutions are prepared to advance is 80% of the property purchase price.

Refinancing

Refinancing is when you decide to switch your existing mortgage without actually moving house. The criteria set by the Central Bank in Feb 2015 does not apply to refinancing applications. There are a variety of reasons why people would consider refinancing, namely:

  • To carry out some necessary home improvements
  • Invest in another property
  • Purchase a holiday home
  • Clear outstanding expensive short-term debt
  • To assist family members with deposit on their property purchase
  • Interest only facility available
  • Existing provider has increased standard variable rate without any increase in ECB
  • In addition, the cost of switching to a new lender is reducing, and therefore many mortgage holders are re-financing to avail of more competitive rates and a number of institutions are contributing towards client’s legal fees to facilitate the switch

Investment Property Purchase

At CMCC Financial Solutions we have extensive experience in arranging mortgage facilities for both first time buyers and experienced investors.

We offer:

  • Competitive Buy to Let rates
  • Maximum 70% LTV Finance is available as stand-alone security
  • Specialist Buy to Let mortgages
  • The deposit of 30% must be from savings and/or gift i.e. can’t be equity release from another property

Financial Institutions

Haven Mortgages
Dilosk Ltd (ICS)
KBC Homeloans Ltd
Permanent TSB
PIBA Mortgages