Steps To Getting Your Mortgage Approval A helpful overview of what to expect. Please note this is a general guide — your specific case may follow a different path and take more or less time depending on the details.
Initial Enquiry Contact us to make an initial enquiry and discuss your possible application and the options available to you. We will tell you whether you may be eligible to apply for mortgage approval in principle. Joint Account If this is a joint mortgage application, you must have a joint credit union account before you submit your application. Open it now to avoid delays later. Application Form We will ask you to complete our mortgage application form and gather all the supporting documents. Wait until you have all the documents and information before sending the form to us. Make sure you complete all the boxes and sign it at the bottom. Approval in Principle We will review all your information and let you know if we need anything extra. When we have all the documents we need, we will carry out credit checks and make a decision on your application. If you are successful, we will issue you a Letter of Approval in Principle, which confirms how much we are willing to lend to you, subject to the conditions in the letter, including a valuation and the property being suitable security for the loan. This will allow you to find a suitable property within your budget. Your Approval in Principle will last for 6 months. If the 6 months surpass, you may need to submit new documents. Find a Property When you find a suitable property, contact us and we will arrange a valuation with a valuer on our panel. You must tell us at this stage if there have been any changes to your circumstances that might affect your ability to repay since the approval in principle was issued. i.e. New job Formal Offer Letter Once our lenders are satisfied with all the information provided, your formal letter of offer will be issued, and we will send you and your solicitor the documentation needed to draw down your mortgage.
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Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
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