FAQs

Most use a 3 year’s accounts averages out.

Yes they are but the shared equity scheme may include certain second time buyers.

Yes, You need a minimum of 2 years accounts.

Keep your cash. Building up cash gives you more opportunities.

Some charge an upfront fee but all get paid (typically 1% of the property value) from the bank the mortgage is placed with.

General rule of thumb is use 5% of the purchase price. So €12,500 on €250,000.

It depends – Are you taking advantage of limits on pension/ cleared off loans and funded appropriately for children’s education funds? If so might be an option for some of a lump sum.

A Mortgage for €350,000 will cost typically €1,500 per month. Banks generally stress test by 20% so realistically €1,800 p.m. is a good amount to save.

The key thing to remember is you need to prove you can repay the mortgage. Having a savings record and capacity from your income is really important.

You need to always consider risk. I would suggest using the risk table. Scale goes from 1-7. 1 is cash – 7 is high risk. Make sure you invest the appropriate amount in the right category for you for the appropriate term (typically 5 years plus).

It depends on your timeframe. < 3 year’s you need to stay with the banks. > 3 years the insurance companies offer really good options but watch for fees and shop around. Use an independent broker.

Zurich life child saver is excellent and has an option to put in trust for your child to avail of “gift tax”. Returns over 5 years plus are much better than the banks.

Generally €3,000 per year per grandparent to a grandchild is tax free. Also there is a total lifetime limit of €30,150 outside of this.

Really depends. Pensions are one option/paying off loans. If over 5 years then definitely consider a diversified portfolio. Looking at tax efficient options makes sense.

As part of your portfolio yes but you need to access the risks and exposures as part of your overall portfolio.

Diversified approach is always the best but bear in mind the US represents circa 60% of the world.

Just think of it as a savings plan with great tax benefits. If you earn over €36,800 you get 40% back on your payment and if you less than this 20%. Your growth is tax free.

When the time you can afford to come together with the moment that you want to.

Generally yes if you can afford to make them.

To spend less than you earn.

You should have a pension when you earn over €36,800 per year. You can start a pension at any time up to 80 years of age.

If you leave the pension scheme within 2 years of joining then it Is likely you will get your pension payments paid back to you and your employer will take back their contributions.

Generally 60 but options to get access to some pensions at 60 years of age.

When your income falls enough preferably so you will not pay income at the higher rate.

Generally 3 options – leave the pension, move to a new company pension or transfer it to a standalone pension (called a buy out bond). Generally we prefer the 3rd options as more flexibility and early drawdown facility as long as the fees are low.

A good general rule of thumb is 10% gross of your salary but you get 40% of a rebate on this.

Allocation rare is a charge every time you put money in?

Important to check 3 fees. 1. Allocation rate. 2. Management charge. 3. Policy or other fees. Recommend 100% allocation /1%-1.35% management fee and no policy fee.

This is BIK of 6-30% of the original value of the car depending on the amount of KMs covered (more KMs less %). There is NO BIK on an electric car of value of €50k or less.

Yes. It makes sense to reduce exposure and to avail of annual capital gains tax allowance of €1,270 which is the amount you can earn each year tax free. If you don’t use it you lose it.