Irish Mortgage Lender Profiles - ICS Building Society / Bank of Ireland

Bank of Ireland / ICS Building Society - Lender Profiles
Bank of Ireland and ICS are part of the same group, so you'll find similar products and lending criteria with both mortgage 'brands'. Together, they lend a significant percentage of mortgage funds in Ireland, through their branch network and through mortgage brokers.

Apply for approval with ICS Building Society (& up to 9 other lenders)

Loan to Value:

First Time Buyers: 100% Mortgages for professionals (see below)*
First Time Buyers: 92% Mortgages
Owner Occupiers: 92% Mortgages
Refinancing: 90% (if it's home related)
Refinancing: 80%

* 100% Mortgages Conditions:

As of 26 November 2007, Bank of Ireland and ICS will only offer 100% mortgages to professionals such as solicitors, accountants, vets, doctors, dentists, pharmacists and public servants such as nurses, gardai and teachers.

Flexible Mortgage Options

Interest Only mortgages:
First Time Buyers: Up to 3 years
Buy to Let: Up to 3 years
Mortgage holidays (3 months):
Bank of Ireland and ICS Building Society will consider offering mortgage breaks of up to three months, once the mortgage has been in place and paid on time for a period of 12 months. This can be very beneficial during maternity breaks, career breaks or in the case of redundancy.
Flexible Options - pay your mortgage over 10 / 11 months a year:
You'll have the option to have a month or two 'off' from paying the mortgage each year . People generally find this beneficial during December and during the summer holiday period, where expenses are higher than normal. As you can probably guess, there are no free lunches!!!! You spread the payment over the remaining 10 or 11 months of the year. Some people find this option very handy.

Who will ICS & Bank of Ireland appeal to?

First Time Buyers - as part of the Government recapitalisation of Bank of Ireland, they agreed to increase lending to first time buyers. Their rates for first time buyers are particularly good.

Who will ICS & Bank of Ireland not appeal to?

Lower income earners tend to get higher approval amounts from other lenders.

If you want to apply for a mortgage with Bank of Ireland, why should you apply through Mortgages Direct?

Independent Mortgage Brokers
Mortgages Direct are independent mortgage advisers , so they'll be able to review your details, and see if Bank of Scotland will offer the best package or if a more suitable one is available for you with another lender.
No Broker Fees
Because Mortgages Direct get their fees paid by the mortgage lenders, they do not charge you a fee.
Low Cost Legal Fees.
Refinancing: €1299 all in, flat fee or alternatively you can use your own solicitor
Buying a home: €947 + vat + outlay or alternatively you can use your own solicitor
Price Match Guarantee.
Mortgages Direct guarantee to match the cheapest mortgage protection quote offered by 8 of the leading insurance companies in Ireland (including Irish Life, Friends First, Caledonian Life, Eagle Star, etc) - so you should save money on your mortgage protection insurance too.
Well Trained Staff
The mortgage consultants are very experienced, know what the lenders like and dislike, so they'll find the right lender, at the right price and take a lot of the hard work out of your hands.

Arranging a mortgage can be a full time job, but it doesn't need to be your job....

Apply for approval with ICS Building Society (& up to 9 other lenders)