Expert Mortgage Advice for Buyers
The conveyancing team at McCarthy + Co has extensive knowledge of mortgage requirements and property law in Ireland. Whether you’re a first-time buyer, a property investor, or looking to remortgage a property you own, our legal team will provide you with expert guidance to ensure a smooth and legally sound property transaction.
Our conveyancing team provides:
- Legal Expertise in Property Law – Providing expert advice on the legalities of your mortgage agreement. We demystify legal jargon, ensuring you fully understand your rights and obligations.
- Comprehensive Property Searches – We conduct thorough property searches, revealing any legal issues that may impact the property’s value or your usage rights. This includes verifying planning permissions and local authority regulations.
- Direct Liaison with Mortgage Lenders – Our team works closely with mortgage lenders to ensure compliance with all terms and to facilitate the timely release of funds. We verify property valuation and adherence to lender criteria.
- Contract Management – We meticulously review and manage the sale contract, ensuring it accurately reflects your agreement and aligns with mortgage terms. Our team also verifies that all mortgage conditions are duly incorporated.
- Financial Coordination – Our solicitors oversee all financial aspects, including deposit transfers, mortgage funding, stamp duty payments, and other related costs, ensuring accuracy and timeliness.
- Advice on Joint Mortgages – For clients opting for a joint mortgage, we provide tailored advice on structure and implications, safeguarding the interests of all parties involved.
- Your Interests, Our Priority – Protecting your interests is at the heart of what we do. We navigate complex transactions and unique property or mortgage features with your best interests in mind.
- Post-Completion Services – Once your purchase is complete, we handle all post-completion formalities. This includes property registration with the Land Registry and ensuring accurate mortgage documentation.
Whether you’re looking to purchase your first home, or you’re a seasoned investor looking to acquire more property, the McCarthy + Co team will be glad to assist you with expert mortgage advice and conveyancing services. Simply arrange a consultation using our confidential form and a senior member of the team will contact you.
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Frequently Asked Questions
Questions we are often asked in relation to mortgages.
What mortgage do I need if I plan to rent out the property I am purchasing?
A specific type of mortgage known as a "buy-to-let" mortgage is required for purchasing properties intended for rental purposes. These mortgages are designed for investors who plan to rent out the property rather than occupy it themselves. Buy-to-let mortgages typically have different terms and conditions compared to standard residential mortgages, often requiring a larger deposit, and having higher interest rates, reflecting the perceived higher risk associated with this type of lending. Lenders also usually assess the potential rental income of the property when determining eligibility and the amount they are willing to lend.
What are the mortgage options for first-time buyers?
Most mortgage lenders will allow you to borrow up to four times your gross annual income (if it’s a joint application, your combined income is considered). The mortgage options available each cater to different financial situations and preferences. Standard Variable Rate Mortgages are common, where the interest rate may vary, impacting monthly repayments. Fixed-Rate Mortgages offer a stable interest rate for a predetermined period, ensuring consistent repayments. Tracker Mortgages, another option, have an interest rate that moves in line with the European Central Bank rate, plus an additional set percentage. For those seeking initial lower repayments, Interest-Only Mortgages allow paying just the interest for a certain period, with the principal due later. Cashback Mortgages are also available, providing a cash bonus upon mortgage drawdown, which can be beneficial in covering upfront costs.
The Irish government offers specific incentives to support first-time buyers. The Help-to-Buy Scheme provides a tax rebate to assist with purchasing new properties. Additionally, the Local Authority Home Loan Scheme, a government-backed mortgage, is available for those who have been unsuccessful in obtaining a mortgage from traditional banks.
Why should I speak to a solicitor about my mortgage?
Consulting a solicitor for your mortgage is crucial for legal guidance and protection. They ensure that all aspects of the mortgage and property transaction comply with legal standards. Solicitors handle critical tasks like reviewing contracts, conducting property searches, and liaising with lenders, safeguarding your interests. Their expertise helps in identifying potential legal issues, managing the transfer of funds, and ensuring smooth property registration. This legal support is invaluable in navigating the complexities of property law and mortgage agreements, reducing risks and providing peace of mind in one of life’s significant financial decisions.
Joseph McCarthy leads the conveynacing department at McCarthy + Co. Joseph has been an integral member of our team since 2013, bringing a unique blend of expertise and dedication to his role. Joseph provides a problem-solving oriented approach to property buyers and sellers throughout the conveyancing process.
Joseph can be contacted via email at: firstname.lastname@example.org
About McCarthy + Co
McCarthy + Co. are a team of solicitors with more than 30 years of experience in providing legal advice, guidance and assistance to clients across Ireland.
We are a family-run business with offices in Dublin and Cork, but we have dealt with clients everywhere from Galway and Limerick to Waterford. We are honest, plain-speaking and thorough – we will work alongside you to ensure your property sale or purchase is as efficient as possible.
Our Awards & Accreditations
We are a multi-award winning firm, accredited by the Law Society of Ireland.