Mortgage Success Story: Married Couple with 2 Children Repay Family Members in Time

by | Aug 23, 2022 | Mortgages, Back to Blog

Mortgage Success Story Donegal

In Ireland alone, some lenders are requesting as much as 30% of the value of the property as a deposit. This can obviously pose a bit of a problem for buyers, especially those who are already stretched thin financially.

It’s not uncommon for first-time homebuyers to need a little help when it comes to coming up with a down payment. In fact, according to a recent study, nearly one-third of all ‘home buyers’ rely on some form of financial assistance from family or friends.

Mortgage-Success-Story-donegal-Married-Couple-with-2-Children-Repay-Family-Members-in-Time

Mortgage Success Story Donegal

Married Couple Mortgage Case Study

When one married couple with two children came to our Letterkenny office for help, they had already borrowed money from family members in order to put down a deposit on their home four years ago.

Now, they wanted to re-mortgage in order to clear the existing mortgage and also repay the family members who had helped them. Unfortunately, their current mortgage provider would not lend to them.

However, after a one hour long chat, we were able to research the market and find a lender who would work with them, and we secured a mortgage that helped the clients pay back their family members. This was an important financial goal for them, and it gave them a great sense of pride and accomplishment when they were finally able to do it.

Whether you’re thinking of buying a home and need help with a down payment, or would like to take control of some outstanding repayments, don’t hesitate to reach out to us at Advice First in Letterkenny. We may be able to help you find a Mortgage solution that works for you.

If you’re in a similar situation, don’t hesitate to reach out to us at Advice First Financial in Letterkenny. We may be able to help you find a solution that works for you.

Regardless of your credit history, the size of your deposit or your outstanding repayments, we can work with you to get you mortgage ready and eventually mortgage and debt free much faster than doing it on your own.

If you have questions or need advice to create your own mortgage success story in Donegal, call 074 9103938 or email now.

Get Advice

Talk to us now and make an appointment with one of our Letterkenny team of QFAs. We are here to help with your Financial Planning Concerns. Ask us questions on Retirement & Pension, Life Insurance & Protection, Mortgages, and Investment Advice. Get in touch here or give us a call at 074 91 03938.

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