Brokers Ireland Mortgages News Update
Tue Feb 18 2020
Please below the latest mortgage and news update from Brokers Ireland Mortgages Network Services:
First Time Buyers – Now 6 months PRA
We are delighted to advise that the requirement for proven rental / savings history has been reduced from 12 months to 6 months with immediate effect. This change further enhances our offering to your first time buyer clients which includes:
- Rates as low as 2.35% (APRC 2.69%)
- 100% balance of funds by way of gift
- Up to 95% finance by exception
- Up to 90% finance for 1-bed apartments (Dublin City)
- Historic unsecured ICB issues considered (12 months PRA may be requested in such instances)
Building on our recently introduced fully underwritten ‘no-property approval’, this change allows us to offer highly competitive solutions to even more of your first time buyer clients.
ICS – LENDING GUIDELINES FOR PUBLIC SECTOR
- The basic income for Public Sector employees will be considered to be two points up their current Pay Scale.
- With regard to Variable income the following will apply:
Overtime: Up to 100% of regular overtime earned may be factored into our assessment if the employer confirms it is regular on their salary certificate.
Allowances:100% of contractual allowances will be factored in if the employer confirms it is guaranteed and is evident on the most recent Employment Detail Summary and on target income for current tax year
- We will consider employees who are promoted within the Civil Service on a one year ‘probationary’ period.
- New entrants to the Civil/ Public service who are subject to any probationary period will be reviewed on a case by case basis. An applicant’s previous employment history is required to establish their experience and suitability for their new position.
Helpful advice, please check all current and credit card statements for Revolut transactions. Many cases are held up in review as statements were overlooked and not submitted with the case. Also please be aware that Revolut statements cannot be used for AML purposes.
NEWS FROM KBC
Please see below reduced rates from KBC along with a rate comparison sheet and the updated KBC calculator reflecting the rate reduction. Don’t forget that all cases can be done on a split loan. The rate is very attractive to all customers particularly those switcher cases that can avail of the €3000 cashback.
- KBC Mortgage Broker Update – Fixed Rate Reductions
- KBC NDI Calculator – February 2020
- KBC Rate Comparison Sheet March 2020
BROKERS IRELAND NETWORK SERVICES – SYSTEM MAINTENANCE
Please note our Brokers Ireland Mortgages portal is now back live. To access the site please go to www.brokersirelandmortgages.com and login as normal. For all required documents please email email@example.com as the library section is currently being updated.