Testimonials >> "If it weren’t for great people like you, there wouldn’t be grateful people like me."- Varghese (South County Dublin)

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Home Buyers

Buying a home is exciting. Buying your first home is even better, as you don’t have the issue of selling an existing property to consider. Choosing the right location and then narrowing down the property options with the help of the internet property sites is a rewarding task. Viewing a selection of properties with an estate agent, making an offer and bringing family or friends on the second viewing for their opinions – It’s all part of a life-changing and hopefully learning process.
The less-exciting and often daunting part of the process is the mortgage. Even if you spend time educating yourself on the subject, are you sure that your local bank official can offer you the best deal on the market? Alternatively, will you be able to research the workings of all the mortgage lenders and definitely come up with the best possible solution?

Mortgages are no longer being offered so easily by the banks. Buyers now need to carefully plan the approach to the banks and present themselves in the best possible light. Some banks will not entertain any new client that has been overdrawn in the last 3 months, even within their overdraft facility! A perfect credit history and acceptable debt service ratios no longer guarantee success.

At Lucas Mortgage Finance we bring all our knowledge and experience to the table to reach the best mortgage solution for each individual client. The importance now of advance planning at the pre-mortgage stage cannot be over-stressed.

Our service typically follows the following stages for a new client:-

A: New clients contacts us to arrange an appointment or to discuss an enquiry.
B: Most people want to meet. A specific list of documents required is sent to the client prior to the planned meeting
C: At the meeting we present the new client with our “Terms of Business” as required by law and formulate a plan based on the client’s particular circumstances. This is based on a personal financial review. We complete the mortgage application form in the client’s presence and scan the supplied documents, returning the originals to the client.
D: After the meeting we review all the documents, package the application professionally and submit to the chosen lender in the required format. A cover letter will highlight any relevant positive points and make any required arguments to the lending underwriter.
E: We expect to receive written confirmation of mortgage approval within a few working days. We resolve any outstanding conditions and give the news to the client.
F: If the client chooses to proceed, we instruct the mortgage valuation. When this report is furnished to the lender the full mortgage offer can issue within three days usually. We chase the lender to make sure things happen on a timely basis.
G: We check the offer and all its conditions before sending a copy to the client. We would usually keep the client’s solicitor informed of progress.
H:Provided the client is happy with the offer, he/she will make an appointment with the solicitor to sign acceptance of the offer and the contract for the purchase of the property.
I:We will also have prepared quotations for the mortgage protection life assurance based on the information received at the initial meeting. We can apply to the agreed life assurance company at any time, but the mortgage cheque will not issue without the life cover being in place. (There are exceptions in the case of investment properties, for example.)
J: A better deal may come to the market prior to the client drawing down the mortgage funds. This is especially true in the case of new homes which may not be complete for many months. We will keep the client informed and change lender if that is the client’s wish.
K: Closer to drawdown we provide a competitive quotation for buildings and contents insurance cover in the case of a house (rather than an apartment) which the client is free to use to shop around. We then organise the indemnity schedule from the insurer with the interest of the intended lender noted in the specific required format of that lender.
L: We submit final documents to the lender, check that the solicitor has submitted the completed legal pack and liaise with the lender and solicitor until we know that everything is in place. The solicitor can then request the mortgage cheque, subject to agreement by the client.
M: We maintain a file for the client and are available for any queries for the full duration of the mortgage term. Our aim is to supply such a good service that clients will refer others to us and of course come back to us in the future.

Call us today on 01-6276000 or email info@lucasmortgage.ie