Stage 1 - 'Apply
On-Line'
You can
complete your mortgage application on-line by clicking on the "Apply On-Line"
button on the toolbar overhead. This will give you registration number and a
Personal Access Code (PAC) which will enable you to track your application
on-line from your initial application form right up to when you will receive
your mortgage cheque. If you do not have a property in mind or selected your
solicitor you can still complete your application and add these details later.
At least you will know the maximum amount you can borrow subject to a property
valuation.If you only want a general idea of how much you can borrow click on
the calculator button on the toolbar above and choose the "Approval in principle"
calculator which will give you a guide. This is only a guide and does not
constitute a formal letter of offer. It is subject to a property valuation and
other lending criteria.
Stage 2 -
Select a solicitor
If you do not already have a solicitor, you should now
look for one. "Shopping around" for a solicitor will ensure you get a
competitive price. Stage 3 - Send us all supporting
documentation
You will be informed of the documentation we require to
progress your application.
Stage 4 -
Select a property
When you have selected a property complete these
details on your on-line application form and we will be in contact with you to
arrange a valuation. You can make an offer on a property 'subject to contract'.
It is very important to get your solicitors advice and guidance through this
process. Stage 5 - Property Valuation
In order to assess the value of
the property you intend buying, it is necessary to instruct a registered Valuer
from a list approved by permanent tsb to complete a Valuation Report. This
will be required before your mortgage can be finally approved.If the property is
still under construction a final valuation will be necessary.This is not a full
structural survey which we recommend you have done before you sign contracts,
especially in the case of older properties.
Stage 6 -
Approval & Acceptance
When everything is in order we will send a
letter of approval and terms and conditions of your mortgage contract to your
solicitor. You will need to get legal advice from your solicitor prior to
signing the loan acceptance.The signed Letter of Loan Acceptance is then
returned to us with a signed a direct debit mandate. Stage 7 - First Time
Buyers Grant
First time buyers should apply for the Government grant of € 3,809 from the Department of the Environment and Local Government. This grant is only available to first time buyers buying a new property.
Stage
8 - Insurance Requirements
You will need to arrange your
Buildings & Contents insurance and Life assurance at this stage. It is also
recommended that you take Repayments Protection cover. The permanent tsb can
provide you with quotations for all of these products. Stage 9 - Agree
a closing date
The seller's solicitor will draw up a contract
for the sale at this stage.
Stage 10 - We
issue your loan cheque
When all the documentation is in order your loan cheque
is issued to your solicitor. Stage 11 - Closing the sale
At
this stage you sign the relevant documentation including the mortgage deed.
Stamp duty should be paid now if it is applicable in your case. Your solicitor
will complete the legal formalities. The sale of the property is registered at
the Land Registry or noted at the Registry of Deeds office, depending on the
type of title the property has. Your solicitor will then send us the completed
deeds, which we hold as security for your loan.
WARNING: YOUR
HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN
SECURED ON IT. | 
