AIB, BOI, ULSTER BANK,
PTSB EBS MORTGAGES
APPLICATION FORM QUESTIONS
Thinking of applying for a mortgage?
Here is a selection of the detailed questions mortgage lenders will ask you before considering your application.
Obviously you will need to give personal details such as
your name, address, phone number, date of birth &
number of dependents (if any).
Also you will be asked how long you have lived at your
current address as well as details of your previous address
if you moved less than 3/5 years ago.
Other questions regarding your present accommodation, i.e. rented, sharing, living with parents, will be asked.
You may also be asked questions regarding your married/seperated/divorced status. If you are currently living in rented accommodation, your parents address and phone number may be required.
If the mortgage application is a joint one, then details of the second applicant will also be needed.
You will be asked to indicate the reason for your application:
Mortgage approval, if granted, may only last 3 to 6 months, depending on the lending institution.
- First time purchase
- Equity Release
- Moving house
You will be asked questions regarding your current employment status such as:
Don't assume a temporary increase in salary, such as a bonus or commission, will be considered in your ability to repay your mortgage.
Other income, such as rental income, should also be mentioned.
- Employment Sector
- Net salary p.m.
- Gross basic salary p.a.
- Overtime p.a.
- Bonus p.a.
- Commission (e.g. if you are a salesperson)
You will be asked for details regarding your employer such as:
- Employer Address
- Length of service
- If less than one year in current position you may have to state:
- Your previous occupation
- Your length of service
- Your previous employer's name and address
- Salary payment method Bank / Building Society Direct Credit Cheque Cash
Self Employment Details
If you are self employed you will be asked about your personal financial details.
Self employed applicants will need to submit copies of their last three years audited accounts, accompanied by their accountant's confirmation of the applicant's current tax position.
You need to supply your:
Business name, address and type of business you are engaged in.
The date your business was established and your shareholding and director's fees and payments (if any).
Your average annual profit for the last 3 years
Your savings and investments will also be considered with regard to:
- Bank Details
- Financial commitments
- Details of all credit cards in this section along with any
existing mortgages. Credit card statements will be carefully checked for such items as bookmaker or online gambling payments, which will not help your application.
- Are any of these loans to be re-finanaced /redeemed as part of your mortgage loan?
- Name, Account Number, Present Balance & Date Account Opened
- Amount Present Repayment Repayment Purpose To be
- Account Borrowed Balance frequency amount of loan re-financed
- Name and Address of Bank/Building Society
- Sort Code
- Account Number
- Do you have a Laser Card?
- Has either applicant any other financial commitments not indicated
above including overdraft, Life Assurance, Separated Person's
Maintenance Payments etc?
Each applicant will have to declare if they have ever been declared bankrupt or insolvent, or are currently undergoing such proceedings.
Other related questions will include:
- Have you ever had a court order/judgement registered against you?
- Made an arrangement with creditors?
- Fallen into arrears on payment?
- Been refused finance?
- Have you currently any legal action pending against you?
Details of Present Property
If you have ever owned a previous property, you may be asked:
- Have you previously owned a property?
- Do you currently have a mortgage?
Have you had a mortgage in the last twelve months?
- If you have, or have had a mortgage in the last 12 months, please submit a copy of your most recent annual statement. If you own, have sold, or are disposing of a property
- Address of property
- Year of purchase
- Original Price
- Amount borrowed
- Amount still owning
- Payment per month
- Date repaid (if applicable)
- Sale price
- Estimated value
- Proposed sale price
- Name of presentor most recent lender
- Account number
- Full Address of Property to be Mortgaged
- Detached Semi-detached Bungalow Terraced House
- Flat / Apartment
- Number of Rooms Number of Bedrooms
- Construction Type: Traditional Brick / Block Timber Frame Pre-cast Concrete
- Area of Dwelling
- Floor Area
Questions in this section relate to:
- Use of Property
- Do you intend to reside at the property?
- Is the property intended as a secondary residence/ holiday home? Other uses?
- Is the property Freehold? Leasehold?
- Is the property newly constructed?
- Do you require stage payments?
- Do you intend to let or part let?
- Will any business activity, trade or profession be carried out at the property? You will need to provide details if this is the case.
This is by no means all of the questions you will have to complete on an application form for a mortgage, but it may help prepare you for the "inquisition" by the lender into both your lifestyle and your financial position.
Although we will do our best to provide you with accurate details, information provided is subject to errors or omissions. This information is intended as a general guide and has no legal standing. You should always seek professional advice for your own particular situation.
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