Home Loans - Mortgages

Home loans, often referred to as mortgages, are a financial product that you can apply for if you need help in securing a property purchase. See listed below a list of home loan or mortgage providers which are available should you wish to purchase a property. Use the comparison chart to research the important features of a variety of home loan and mortgage providers. Check the provider to see if they are a broker or a direct lender and always make sure you are aware of the fees, interest rates and read the terms and conditions carefully. If you decide to use a mortgage broker when applying for a mortgage, they might make your application easier, but you must be sure to check their fees so you donít end up paying more than you need to. Remember if you do not keep up with the repayments on your home loan or mortgage your house could be repossessed so it is important to borrow within your means. If you are in any doubt then you should seek independent financial advice.

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What is a Home Loan?

If you are thinking about taking out a home loan or mortgage to secure a property purchase then finding the right deal and lender is crucial. A mortgage or home loan is a loan from a bank or financial lender who provides you with funds based on the value of a property you want to buy, with a rate of interest attached. You will always put a deposit down on the property and the mortgage or home loan provider will provide you with the remaining funds to secure the sale. You will then need to make monthly repayments to your lender, plus a rate of interest and fees, over an agreed period. This agreed period is usually up to 30 years. This is likely to be one of the most important financial decisions you will make so finding the right deal is of paramount importance to ensure you can secure the money to complete your purchase. Choosing the right home loan provider is not just about finding a company with the lowest interest rates so you must ensure you do your research carefully.

What should I research when looking at home loan providers?

Apart from the interest rates of a mortgage or home loan you must ensure you look at the fees the associated with your home loan. The fees that a home loan provider applies to your loan really depend on the particular deal that you choose but it can be in the thousands so it is important that you look into this carefully. You should also ensure you read the terms and conditions carefully so that you are fully aware of any early repayment charges should you switch mortgage providers, move house or pay off the mortgage.

Should I take out a fixed or tracker home loan?

This is one of the biggest financial decisions you will make so knowing what type of mortgage to take out to suit your needs is very important. Deciding whether to take out a fixed rate loan or a tracker loan can be a tough decision and one that you should research carefully. A tracker home loan could look tempting if the base rate is low, however, the fixed rate loan can be a good option because it gives you the financial security of knowing what will be coming out your bank account on a monthly basis. Look into your options carefully and remember that if you are unable to make the monthly repayments your house could be repossessed.

Is there anything I should be aware of when taking out a home loan?

Sometimes mortgage providers or home loan providers will offer special offers in the hope that when they expire you will forget to move your mortgage deal and continue to pay their high interest rates and fees. You can avoid this if you keep on top of your finances and ensure that you are aware when your home loan expires.

Be aware of mortgage deals that lock you in for a long period of time, who then charge a fee should you want to move house or mortgage deal during the home loan period. Ensure you research all home loan fees such as the early repayment charges that might apply. It could mean moving house becomes even more expensive if you are not aware of these fees.

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New Product Range: Home Loans

17 October 2015
Which Way To Pay

Check Out our latest new product range added to Which Way To Pay: Home Loans


Bank of Ireland Mortgage Arrears Continue To Increase

24 April 2012 17:00
Jack Stupple

Bank of Ireland has said the proportion of its Irish mortgages in arrears rose this year amid a weak economy and high unemployment.