Trading Up

Trading up is all about timing.

We are seeing far more people now looking for a new home while in the process of selling their present home, however, it is important to remember that your mortgage offer will usually be dependent (conditional) on you COMPLETING the sale of your own home before funds are released to purchase your new home.

What you need to know about Trading-Up Mortgages:

  • There are currently 5 Lenders in the Trading Up Mortgage Space at the moment.
  • Maximum Loan to Values – 90% for 2 bed apartments and houses and much lower for 1 bed apartments – usually between 65% – 80% LTV.
  • Minimum Incomes are between €20k – €25k for single applicants and €30k – €35k for joint applicants.
  • Maximum Term between 30 – 35 years to age 65-yrs – 70 yrs depending on lender
  • Most lenders looking for Minimum 1 year employment history or start of 2nd year contract (if contract of indefinite duration or rolling annual or bi-annual contract).  2 lenders will accept 6months+ employment history if probationary period completed.
  • If Self-employed or 2-3 years (depending on lender) accounts required  plus confirmation Tax Affairs up to date and Tax Clearance Cert.
  • Minimum property values for some lenders – Cities – €100k and Urban – €70k


Newstar FM Independent Mortgage Brokers. Contact Tara today at  to find out more about Trading Up …..

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