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GMC Mortgages
General Mortgage Corp. group is widely recognised as one of Ireland's largest mortgage brokers.
Applying For Your Mortgage
You may have already received loan approval in advance of your property search. Now that you have actually purchased, it is time to commit to your chosen lender. We would always advice employing a suitably qualified independent mortgage broker who deals with the leading lending institutions to act on your behalf in this important decision. In house mortgage advisor Mr. Douglas Hurley can offer you a full range of mortgage services and source the best deal in the marketplace. If you are already loan approved through another broker or financial institution let Douglas prove himself by trying to beat your current rate. It may cost you a few minutes but could save you thousands.
When you have chosen the financial institution that will finance your purchase you will have to complete a mortgage application form. This form will require your personal and financial details and information on the property you wish to buy. When submitting your application you will also be asked to provide various enclosures which will normally include:
1. Certificate of Income (filled up and stamped by the employer)
2. P60 and last 3 pay-slips
3. Account report or 3 years accounts if self employed
4. 6 months bank statements (most recent)
5. Evidence of savings
6. Details of all loans i.e. lender, monthly payment and amount outstanding, 12 months up to date statement
7. Loan application form
8. Direct debit mandate
9. Photographic identification i.e. passport or driving licence
10. Address identification i.e. utility bill or bank statement
11. Valuation fee
After receiving all your information the financial institution will approve you in principal and then send out a valuer to inspect your chosen property. The valuation report is sent to the institution and once they are satisfied they will issue written loan approval.
Life assurance
It is normally a condition of your loan approval that you obtain life assurance up to the amount of the loan you intend to borrow. This is also a prudent measure as if you pass away the loan you have obtained will be paid off in full by the life assurance company leaving it unencumbered for your beneficiaries. We would advise that you speak to your own lender, life assurance broker or a member of our team at GMC Life & Pensions for further details.