The Aib mortgage calculator is basically a simple way to work out how much you can take from the bank to cover the cost of the property your are interested in. It is a quick and simple way to get a decent idea of what the general amount you can get is.
Being a first time buyer you have to be careful with what type of house you are willing to take. It is one of the most important and exciting decisions that a young adult will make in their lifetime but a lot of people try for something a little too expensive. After all, it does take quite a long period to pay back a mortgage.
You know you have truly decided to settle once you have decided to take a property so you need to know exactly what you are getting into. With the AIB mortgage calculator life becomes a little easier. Just head over to the 'aib' website and check out the mortgage section.
From here you can select the type of mortgage you are looking to take out. Since it's first time buyer we are talking about read through the list of what's on offer. You will see that they cover 92% of the cost and offer 20% introductory discount to first time buyers, this is all good!
They cover nearly full cost so this is where they calculator comes in. If you click on the 'Find out more' button you will be taken to the mortgage calculator. All you have to do is select the type of mortgage you want and input the value of the house. If for example, your house was £250,000, AIB will cover £230,000 of the cost.
That's really all there is too it, hit up the website and get an instant quote.