Switching Your Mortgage Residential Mortgages Switching Your Mortgage to Finance Ireland At Finance Ireland we’re about doing our best to provide mortgages that have a little more flexibility and, by being flexible, we’ve been able to help people in ways not every lender can. There’s no ‘credit-scoring’ or complicated models used to assess your application – we look at every case on its own merits – even where your situation might not be typical of most. If you’re looking for a better deal on your mortgage, talk to an appointed mortgage broker today about what Finance Ireland can offer you. Find A Broker Guide to Switching Your Mortgage If you are looking to switch your mortgage to Finance Ireland, download our guide here. Download File type: PDF Media size: 0.20MB What are the steps to switching? Step 1 – Talk to an Appointed Mortgage Broker Our mortgages are available exclusively through a network of appointed mortgage brokers. A mortgage broker will guide you through every aspect of your application, delivering independent, unbiased advice to help get the right mortgage for you. You can choose from our full panel of appointed brokers here: Find A Broker Step 2 – Get an Approval in Principle Your broker will collect some personal and financial information to allow them get a clear understanding of your situation. They will look at things like your income, outgoings, savings and other loan repayments to get an accurate picture of how much you can borrow. We will provide your broker with an Approval in Principle (AIP) for the amount that you qualify for. Step 3 – Prepare your documentation Once you have your AIP you can move to making a full mortgage application. We’ll look for a range of documentation that confirms the things you shared with us at AIP stage – things like your identity, employment and income, savings and other borrowings. Your broker will manage this process for you and let you know everything we’ll need to see. For a list of the documents required, please see below. Documents you may need to provide The Application Form A signed and dated application form Identity, Address & PPSN Documents In all cases you will need to provide proof of identity, proof of address and proof of your PPSN. We will need to see: Employment & Income Documents If you’re a PAYE employee, we’ll need: Savings & Borrowings Documents Statements for any savings accounts you may hold Divorces / Separations Once we have received your application, we will acknowledge receipt within 3 days, confirming whether we have all the documents we will need to progress. From the date of receiving a fully complete application, we give you our underwriting decision within 10 days. If your application is approved, this is also a good time to choose a solicitor to handle the legal aspects of your mortgage. Step 4 – Property Valuation At this point we need to carry out a valuation of your property. This will be completed by a Valuer taken from our approved panel. This valuation will cost between €150 and €300 plus VAT and is payable by you. After we have received and checked the valuation, we’ll issue your formal Letter of Offer. Step 5 – Signing the Offer We’ll send a copy of the Offer letter to you and your solicitor. Once you have both reviewed and are happy with the details of the offer, you and your solicitor should sign the contract and return it to us here at Finance Ireland. Step 6 – Set up your Insurances Before your mortgage can be completed, you’ll need to show that you have mortgage protection and home insurance in place. If you need to put new policies in place your mortgage broker will be able to advise you on the most appropriate options for you. Step 7 – Complete your switch Once all the paperwork and loan offer conditions have been addressed, your funds will issue to your solicitor who will pay off your old mortgage. If you have borrowed any extra funds, your solicitor will transfer these additional funds to you. Getting the documents that apply to you together in advance will allow your broker put your application together in the shortest possible time. Please note that we may request more information on a case by case basis. You can find useful information on switching on the Competition and Consumer Protection Commissions website. Useful Forms & Downloads Customers Experiencing Financial Difficulties Terms and Conditions Privacy Policy Sitemap © 2021 Finance Ireland Ltd Finance Ireland Credit Solutions Designated Activity Company, trading as Finance Ireland Residential Mortgages, Finance Ireland Commercial Mortgages, Finance Ireland Agri and Finance Ireland Leasing, is regulated by the Central Bank of Ireland. Company registration number 549222. Registered address: Clerkin House, 85 Pembroke Road, Ballsbridge, Dublin 4, D04 YN53, Ireland.