 The Home Choice Loan was recently launched as part of this year’s Budget 2009 announcements. It is designed to assist First Time Buyers who can afford to service a mortgage, but may not have been able to get sufficient finance from existing private lending institutions to facilitate this.
We are pleased to announce that IFG Mortgages have been approved as a Home Choice Loan Intermediary and will be in a position to offer this product to you.
What is Home Choice Loan?
Home Choice Loan is a mortgage provided through a number of local authorities for First Time Buyers who cannot get sufficient finance from a bank or building society.
Home Choice Loan will provide up to 92% of the market value of a property purchased. The maximum loan amount is €285,000. The loan is a normal Capital and interest bearing mortgage which is repaid on a monthly basis.
The mortgage term will be for a maximum of 30 years.
Home Choice Loan will only be available for newly built homes.
Who can apply?
To qualify for a Home Choice Loan:
- You must be a first time buyer (some exceptions may apply).
- You must earn a salary of more than €40,000 (single) or €50,000 (joint).
- You must be in permanent employment for a minimum of two years; If self-employed you will be required to submit two years certified accounts.
- You must be in a position to prove that you were unsuccessful in securing a sufficient mortgage from a bank or building society to buy a home.
For the best first time buyer deals in the marketplace, call 1850 38 39 40 today or email info@ifgfinancial.ie and talk to an IFG Financial Broker. We look forward to working with you in the future and assisting you in the purchase of your first home.
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