Public Sector Mortgages
Garda members, HSE staff, Prison officers, Firefighters and Teachers are among those Public Sector workers who are eligible to apply for specially designed public sector mortgages, created by certain lenders with important changes that could make a significant difference when applying for a mortgage. Allocations for employee pay scales, overtime and allowances are now taken into consideration. Rates start from as low as 2.4% APR making mortgages easier than ever for public sector employees to get.
What is different about Public Sector Mortgages?
Basic Pay – Basic pay will now be taken as two points up in the pay scale when applying for a mortgage. You will now be assessed with a higher wage on your application.
Overtime – 100% of overtime completed by public sector employees in the previous year can be included in the basic wage.
Probation Period – In the case of probation periods this will include existing public sector employees promoted or transferred on 12 months’ probation. Whereas new entrants will be determined on a case by case depending on their employment history.
Contractual Allowances – 100% of your contractual allowances can be applied. This will mean you will be able to take out a larger mortgage if needed.
Gift – 100% of the deposit can be gifted provided repayment capacity is evident.
Maximum Age – The maximum age at mortgage expiry has increased up to 70 and no proof of pension is required and there can be up to 4 individuals per application which will give more flexibility for applicants.
Make An Enquiry
How Can We Help
MC Financial can advise you on:
- Do you qualify for a mortgage
- How much can you borrow
- How much of a deposit will you need
- How long will approval take
- How long will approval last for
- What documentation do you need
- Which lender has the best rates
- Should you choose Fixed or Variable
- What is the longest term you can obtain
Contact Us for More Details
Why choose MC Financial? See Q6 in FAQ’s
Why not check out Michael’s dedicated mortgage Guide for First Time Buyers.
Would you like to talk to someone you can trust, who will give you the best options based on your circumstances? If so, contact MC Financial today on 01-8228022, firstname.lastname@example.org or call Michael anytime on 087 9321882