From counting social welfare as income or lending after a divorce, mortgages in Ireland are getting more accessible

New lenders in the market are more creative in how they lend writes John Hearne

Núa classifies 100% of any social welfare payments you receive as income — as long as it’s not means-tested. It also takes a more favourable attitude towards variable income such as bonus payments.

Getting a mortgage is never easy. Recently however, the arrival of a number of new lenders into the market has shaken things up and introduced a level of competition we haven’t seen for some time. That doesn’t just create downward pressure on rates; it also encourages lenders to be more creative in how they lend.

Trevor Grant of Affinity Advisors is also chairperson of Irish Mortgage Advisors. He says that we’re seeing a gradual shift towards what he calls ‘more inclusive’ mortgage lending.