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Understanding Money with Eoin McGee
The Home Stretch
Oct 25, 2023
Eoin is joined by Lorcan Sirr, housing policy analyst and senior lecturer at TUD, to discuss the rising property prices and supply issues in Ireland. They also delve into the history of affordability issues, the impact of tracker mortgages, presenting oneself to the bank, and preparing for the home-buying journey.
45:37
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Quick takeaways
- Start the home-buying process early and consult with a mortgage broker to assess your finances and receive guidance on the best approach.
- For individuals living abroad looking to purchase property in Ireland, building a relationship with a reliable mortgage broker and ensuring financial records are in order are essential steps to navigate the challenges of buying property from overseas.
Deep dives
Importance of Getting a Mortgage Early
If you're considering buying a home, it is essential to start the process early and consult with a mortgage broker. They can assess your finances and provide guidance on the best approach. Additionally, understanding your ability to make mortgage repayments is crucial. By showcasing consistent savings or rental payments higher than the mortgage amount, you can demonstrate your ability to repay the loan. Furthermore, it is important to maintain clean bank statements and a good credit history to enhance your chances of approval.
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Listen to the best highlights from the podcasts you love and dive into the full episode