100% Mortgages were available up to the end of Q1 2008 and then they were withdrawn almost universally, some lenders still offer them for specific types of clients (doctors, solicitors, accountants), but the restrictions mean that for the most part 100% mortgages in Ireland are a thing of the past.
If you do qualify there are stringent requirements, and many banks have actually ceased to offer a 100% facility even for ‘professional’ clients. However there are still options available and the preson you are dealing with in Irish Mortgage Brokers will be able to guide you through the maze of options and considerations so that you make the best possible choices when you get your first mortgage.
For investors getting 100% it generally means that you have equity in another property and this equity is what provides the security for the 100% finance option. This may involve cross-securing the loans or doing a top up on one and using it to finance the other, in any case your broker will be able to tell you what the best choice for your mortgage is and the pro’s and con’s of any decsion.
Banks are increasing the security requirements on many loans and the best way to understand the market and obtain the best advice is to get one of our independent advisers to help you make a decision that will suit your circumstances and provide you with long term value.