Keys at Prosperous

Unlock your Future

Whether you’re buying your first home, looking into switching your mortgage provider or moving home, Prosperous Financial has you covered. Our mortgage team will help make the process seamless.

Our mortgage consultation process ensures we get to know you. Before reviewing the market on your behalf, we’ll meet with you and gather all relevant information and documentation. We’ll be there to guide you at every step of the way. We’re working with the top lenders throughout Ireland to ensure you get the best value.

It all starts by booking your initial consultation through the link below. 


We're here to help you no matter what mortgage journey you are currently on...

First-Time Buyer

Are you looking to get on the property ladder? We understand how overwhelming it can be to be looking for a mortgage for the first time, we have an experienced time in place to help make the application process as easy as possible for you. We're here to help, follow the link below to book your initial consultation.

Switching/Top up your Mortgage

Are you coming to an end of your fixed term rate and looking to make a switch? Whether you're looking to lower your monthly payments, shorten the duration of your mortgage, or take advantage of better interest rates, our dedicated team is here to guide you through the entire process.

Moving Homes

Are you looking at trading up or moving forward from your current home? We're here to help. No matter the circumstance of your move, we're here to ensure your get the best outcome from your move. If this sounds like you and you're interested in chatting with us today, book your appointment below.

Buy-to-Let/Holiday Home

Are you interested in purchasing a buy-to-let property or holiday home? We can help make this process as seamless as possible for you. When you are looking at something like this, you may understand the process of purchasing a property from buying your own home, we're here to help ensure you get the best offer available.

What's involved in our consultation process?

Initial Consultation

In our initial consultation, we’ll sit down to understand your unique financial situation, goals, and preferences. Your input is crucial, as it forms the foundation for crafting a mortgage solution that aligns with your goal.

Financial Assessment

Following that, we’ll conduct a comprehensive financial assessment, taking into account factors such as your income, debts, and credit history. This step helps us gauge your borrowing capacity and ensures we tailor our approach to your specific financial profile.

Market Research

Using our market expertise, we’ll conduct thorough research to identify the most suitable mortgage products for you. This involves comparing interest rates, terms, and conditions from the mortgage providers we deal with to ensure we present you with the best options available.

Loan Recommendations

Based on our research and your goals, we’ll present you with tailored loan recommendations. We’ll discuss the pros and cons of each option, ensuring you have a clear understanding to make an informed decision that aligns with your homeownership aspirations.

Once you are ready to make your mortgage application, we will guide you through the process every step of the way:

Approval in Principle

Once you’re ready to proceed, we’ll guide you through the approval in principle process, with submission of necessary documentation and recommendation to the chosen lender. This step gives you a clear indication of the lender’s appetite to lend to you when they issue an Approval in Principle letter.

Formal Loan Offer

Once you have found the property you want to buy (sale agreed), we’ll submit the formal loan application to the chosen lender, ensuring all required documents are complete and accurate. This step marks a significant move toward realizing your dream of homeownership.

Mortgage Protection and Life Assurance

We will advise you on the best options available to you and liaise with selected insurance providers on your behalf.

Drawdown and Closing

We will remain in contact with you throughout the final part of the process to deal with any outstanding matters including finalising paperwork, and and ensuring a seamless transition to homeownership. We’ll be there every step of the way, making sure everything goes according to plan.

Frequently Asked Questions

When applying for a mortgage, you can either go through a broker or apply directly to a lender.  

A broker can determine what lenders have the best rates and offers for your specific circumstances. Using a mortgage broker can also save you time and money as the process will be more efficient than applying directly to multiple lenders. As your mortgage partner, your Prosperous Mortgage Advisor will be at hand to answer any queries you may have and to support you through your home buying journey and beyond.

Before being able to make an offer on a property, you’ll need approval in principle (AIP). This is a letter from your mortgage lender indicating the amount they could lend you, based on the information you provide. However, having AIP doesn’t mean that you have mortgage approval  – it is simply an indication to lend and is not legally binding. To turn your AIP into formal mortgage approval (also know as letter of offer), you need to find a property, get a valuation carried out and meet the AIP conditions noted in your AIP letter. Provided there are no issues, and all of the information is correct, it’s unlikely your mortgage offer should differ from the AIP amount. 

It’s best to get AIP early on in your property journey, as estate agents will look for this as proof that you can afford to purchase a property. It usually lasts six months but it can be extended if you haven’t found the property you wish to purchase within that time frame.  

The two main rules the Central Bank has in place are as follows:

Loan-to-income limit first-time buyers can borrow up to a maximum of 4 times your gross income, or combined annual income if purchasing with a partner. For second-time and subsequent buyers, you can borrow up to a maximum of 3.5 times your gross income. Some variable income, such as allowances, commission and bonus, can be taken into consideration. Mortgage lenders have some discretion to make exceptions to these rules.   

Loan-to-value ratio The loan-to-value (LTV) ratio refers to the percentage of the property’s value that you can borrow and how much you are required to pay upfront in the form of a deposit. The maximum LTV a mortgage lender will approve is 90%. Therefore first-time buyers and second and subsequent buyers need to have a minimum deposit of 10%.  Bear in mind that for second-time buyers, this 10% deposit can take the form of equity from selling your existing house. This does not need to be made up of new cash and can be useful if your existing house has increased in value while your mortgage has reduced through repayments. Lenders can also make exceptions to these rules in some cases.  

Lenders will consider several factors when assessing your mortgage. The three main things they’ll look at are: 

Income: Lenders will look at your annual income to ensure you can afford the mortgage repayment. They may also take bonuses and overtime into consideration. 

Deposit: usually a 10% deposit will be required along with funds to pay for stamp duty (usually 1% of the purchase price), legal fees and other outlays. The mortgage lender will look for evidence the source of the deposits whether it’s from savings or has been gifted.  A First time buyer may be eligible for Help to Buy

Repayment Capacity: You need to demonstrate the ability to repay the proposed mortgage through savings, rent payments and/or discontinuing loan repayments or a combination of these. 

When applying for a mortgage, most lenders will look for information in relation to your income, employment status, existing loans and spending habits. This helps them to determine whether you can be relied on to pay back the loan. 

The required documents may vary from lender to lender but usually, you’ll be asked for the following: 

  • Proof of income: If you’re a PAYE employee, you will usually need to provide payslips for the previous three months, last year’s Employment Detail Summary (available from Revenue) along with an employee status report (salary certificate) completed and stamped by your employer. 
    If you’re self-employed you’ll need to provide certified accounts, likely for the previous two or three years, and a copy of tax returns from the previous two years. 
  • Proof of repayment ability:  You’ll be required to provide the lender with all bank account statements for the previous six months. 
  • Evidence of Deposit: savings accounts statements, gift letters and/or Help to Buy Approval
  • Proof of ID and proof of address: Usually these can be in the form of a current valid passport or current driving licence and a recent utility bill. 

Prosperous Financial Planning Limited is authorised under Regulation 30 of the European Union (Consumer Mortgage Credit Agreements) Regulations 2016 to engage in the business of being a Mortgage Credit Intermediary on behalf of the following undertaking(s): Finance Ireland Credit Solutions DAC t/a Finance Ireland, Avantcard DAC t/a Avant Money, Haven Mortgages Ltd, Dilosk t/a ICS Mortgages