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MOVE INMOVE UP

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INSIDE:Quiz: Are you ready

to buy a home?Savvy ways to save

for your depositReal-life mortgage stories

Interiors: How to create relaxing work, party and

garden spaces in your home!…and much more

Sunday IndependentFebruary 24 201902 MOVE INMOVE UP

04A steadier Irish housing market could

help homebuyersAustin Hughes, Chief Economist for

KBC Bank, tells us about the economic factors likely to play a key role in determining

when people buy homes and how much it costs them

05What to expect when you’re inspecting!

Mark Stafford, Partner at DNG, shares his tips for a successful home search

06Saving for your new home

Vincent Keogh from KBC answers your questions about saving for that

all-important deposit

08How do I buy a home?

Conor McGowan from KBC talks us through going from applicant to homeowner with this

step-by-step guide to a KBC mortgage

10Home, sweet, home

Janine and Gerard Nowlan share their home-buying story

12I bought my first home, what next?

Here are some things to consider when you land the key to your brand-new home

13Five things to know about home

insuranceWe speak to Ciaran Ryan, Head of Insurance

Products at KBC Bank Ireland about the importance of home insurance and exactly

what homeowners need to know

14Work, play, love

The experts share some of their top ways to add a personal and welcoming touch to your décor PLUS how to create an internal garden

1 How long have you wanted to buy a house?

(a) I just started thinking about it when I picked up this supplement

(b) Buying a new home has been on my mind for the last four or five months

(c) It has been my dream for as long as I can remember

2 How well do you budget your money?

(a) I’m currently behind on several bills and have some debt

(b) I don’t stick to a strict budget, but I try to spend my money reasonably

(c) I have a planner on my phone which records all my expenses and allowances, and I try to avoid spending even an extra euro over my budget

3 What would you find to be the best thing(s) about owning a home?

(a) Not having to deal with a landlord or share accommodation with housemates

(b) Having more independence and feeling accomplished

(c) Having my own space and the opportunity to build my own personal equity rather than spending my income on monthly rent

4 For what personal reason do you want to buy a house?

(a) I watch bloggers on social media in their own amazing houses and I feel inspired to have a house to put my personal stamp on

(b) I have both lived at home and rented for years, so I feel that buying a house is the natural next step

(c) I have a partner/fiancé/husband/wife and our family is expanding, so I feel we need our own safe and secure space to live as a family

5 Do you know where you would like to live for the next five to 10 years?

(a) I have a couple of locations in mind, but I can’t choose which one I would settle in. I have considered travelling and living abroad for some time also

(b) I have two or three main areas in mind that I would happily spend the rest of my life in

(c) There are two neighbourhoods I am familiar with, that I love. Both have easy access to schools, shops and work, which is what I am looking for

6 Do you have a steady job?

(a) I am between jobs and am considering a career switch

(b) I have a job that requires occasional travelling across the country

(c) I have a role in the same company for the past one or two years, and see myself here in the foreseeable future

Are you ready, are you ready for… a new home?If you are not yet exclaiming ‘Yes I am!’ a la Elton John’s hit song, then take this quiz to find out if the time really is right to buy your own homeA

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EDITORClodagh Dooley

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Contents

Sunday Independent February 24 2019 MOVE INMOVE UP 03

“At the age of 25, and just before the Celtic Tiger ended, I got a job transfer from Dublin to Kilkenny and jumped into buying a house with my fiancé. I was living in the present and wasn’t thinking of what my future would be. Looking back – having since been through buying and renovating a second home in the country and bringing four children into the world – I wish I had taken more time to think. Would a three-bed semi-detached house be sufficient in 10 years’ time? Did I want to live in a housing estate? Where will I get the money to have nice furnishings? Will I still be able to afford holidays? Would a second mortgage be as easy to get as the first? There were so many hidden costs associated with buying a house, as well as selling a home and buying again. At the time, this information was not as readily available as it is now. I really can’t stress the importance of building a good relationship with your mortgage advisor!” Frances Hogan, Co Kilkenny

“My husband, Mike, and I took out a mortgage for a house in

Co Limerick during the year of 1995. It was exciting as we embarked on our journey to buy our first house, but it was easy to overlook the enormity of

the associated contractual obligations. Do speak with

a mortgage advisor and make sure you understand

everything before making big decisions.” Margaret Freeney,

Co Limerick

“When we were buying our first house, I wish we had considered the future a bit more, but we had two salaries, no kids

and the ability to save. In hindsight, we should have

stretched ourselves more to get that bigger house, with a

better garden, in a nice location. But we didn’t. It is 10 years

on, and we are now in our forties, with four kids. I am a stay-at-home mam, we have only one salary and it’s very difficult to save, but that bigger house is still a dream!” Cathriona Everard,

Co Kilkenny

WHAT I WISH I HAD KNOWN BEFORE BUYING A HOME!Three homeowners from across Ireland share their experiences

Frances

Margaret

Cathriona

7 What are your savings like?

(a) Non-existent(b) I do have some money in my savings

account, but I occasionally worry it is not enough

(c) I have a comfortable amount of savings and am still adding to this

8 Do you think you will mind the additional considerations, such as home maintenance and repairs?

(a) Sometimes I would turn a blind eye to any issues in the house I’m renting, to avoid extra costs. I would also miss being able to get my landlord to sort things out

(b No. This could be a benefit because it means I would no longer need to ask for my landlord’s permission to make changes or upgrades in the house

(c) Myself or my partner don’t mind DIY jobs, but if we are really stuck, we would be able to afford to hire outside help

Mostly A’sHome is where the heart is, but unfortunately, your heart doesn’t seem to be in it just yet. If you simply like the thought of owning a house but haven’t actually put much consideration into how you can afford a house, then it is worth re-evaluating your priorities! But this doesn’t mean you won’t ever have your own home, it just needs to be the right time. This is a choice you need to make for yourself. Maybe you are still working out your career goals, or maybe you would like to travel around the world before settling down in Ireland. Just like with getting married or finding your perfect job, there is no right age to buy your own home – even if time is pushing on, it is not a race.

Buying a house is one of the biggest financial commitments most people will ever make, so it’s important to consider where your savings are going. Consider making some changes to the ways in which you are spending your wages. We all need to treat ourselves to nice things, but not overdo it. Set up an automatic transfer into a good savings account on the date you get paid, and when you are eventually ready to purchase your own home, you will feel much more confident (and don’t forget to hold onto this handy guide for help when the time does come around!).

Mostly B’sIt appears you are on the right track to being ready to buy a house, but you might be experiencing a slight feeling of indecisiveness or hesitation at the same time. It could be that you have savings put aside and an idea of where you would like to live or the type of house you would like to buy. But perhaps you are not 100% sure about making the investment yet.

A home is an investment, but it’s not the sole purpose of why you buy. There is also the stability it provides, as well as being a place you can call your own. You may be worried if you will qualify for a mortgage. When assessing your affordability for a mortgage, the bank will consider if you have a secure income, an adequate cash deposit and good credit history. The money you use on rent is also considered. While it helps to have an idea of how much you can afford, sitting down with a bank representative to discuss your options and get advice will help you to make a more informed decision.

Mostly C’sYou feel certain you are ready to take the next step on your life journey, whether that is with a partner, or with a partner and your child. If you are single or you live with a partner, a one-bedroom apartment can suit you just fine. But eventually you might find yourself needing more room. Factors like kids, at-home hobbies, and a home business could mean that you require an extra bedroom or an office. And if you’re looking for more space, investing in your own property may be the best choice, as opposed to moving into a rental house and paying someone else’s mortgage!

If you are feeling settled in your job and see yourself there for the next five to 10 years, it can be a huge help in determining where to buy a house. Having a stable job can also be beneficial, as you will need to show the bank you have a steady stream of income. The bank will look for at least two consecutive recent payslips (dated within the last six months) and six months of continuous employment with your probation period complete with the same employer. And while you may have a comfortable amount of savings, it’s a bonus if you are still adding to this account, as it means you will be able to contribute to mortgage repayments. To get started on your mortgage journey and find out what you need to bring along with you, turn to page 8.

While this quiz has been created to use as some guidance, it is not to be taken as the deciding factor. It is advised to meet with one of KBC’s dedicated mortgage team to discuss your personal circumstances. For more information, visit www.kbc.ie or new customers can call 1800 51 52 53

How did you do?

Lending criteria, terms and conditions apply. The property is mortgaged to secure the loan. Life and home insurance are required. The maximum mortgage is 90% of the property value. KBC Bank Ireland plc is regulated by the Central Bank of Ireland


The decision to purchase a home is personal and, for most buyers, it’s their specific housing needs rather than economic conditions that drive their decision to enter the

property market. Last autumn’s wave of the KBC

homebuyer sentiment survey found that for most people, it was reaching a certain age or point in their life cycle, having new or broken relationships, finding the right space for larger or smaller families, or experiencing changes in what job they did or where they worked that were the key reasons why they are now house-hunting.

YOU CAN’T ENTIRELY ESCAPE DEMAND AND SUPPLYIf most people’s reasons for buying a home are personal, the broader economic environment has a big say in how easy or hard that process might be.

“Housing, like many other aspects of our lives, is subject to the laws of demand and supply,” says Austin Hughes, Chief Economist for KBC. “A steady improvement in the health of the Irish economy in recent years has seen the demand for homes increase sharply.

“However, the downturn following the financial crisis meant a large number of house purchases were postponed. So, a substantial amount of ‘pent-up demand’ from earlier years means demand is now higher than normal at a time when new house building is well below normal.”

While homebuyers may have to

compromise as to where or what they buy, Austin says they are still being careful.

“There isn’t the same scramble to ‘get on the property ladder’ that was such a feature of the boom of the early 2000s. Homebuyers are now trying to ‘future proof’ their purchases rather than buying with the intention of quickly moving on. In this context, 61% of homebuyers in the autumn KBC survey said they planned to stay more than 10 years in the home they plan to buy.”

SUPPLY IS INCREASING…Unfortunately, finding the right property

Buying a house is a really big deal – for most people it’s probably the biggest ‘deal’ of their lives. Most buyers consider a wide range of factors in their efforts to get this big decision right. Austin Hughes, Chief Economist for KBC Bank, tells us about the economic factors likely to play a key role in determining when people buy homes and how much it costs them

is not easy at the moment. About 18,000 homes were built in Ireland in 2018, which is about half the number needed to match Ireland’s ‘normal’ housing needs. So, supply remains far below demand.

As a result, property prices rose last year as they have every year since 2013. That said, the annual rise to December 2018 at 6.5% was the smallest end-year increase since 2013. Could this be a sign that conditions are changing in the Irish property market?

“Homebuyers should see more choice as construction activity ramps up further. Although new supply fell well short of demand last year, the number of new homes completed was nearly four times higher than in 2013.

“Moreover, supply should increase further in coming years, dampening price growth. So, there is no panic to buy whatever is available as quickly as possible.”

…WHILE DEMAND GROWTH MAY BE EASING AS BREXIT IS LOOMING Austin says there are also signs that the pace of demand growth is slowing. In part, this is because the pipeline of pent-up demand should ease.

Austin says: “A more important factor is diminishing affordability as house prices have increased about eight times faster than average earnings in Ireland since 2013, although they had fallen much faster in the previous five years. A cautious approach on the part of borrowers and lenders reinforced by Central Bank lending limits

has also curbed the capacity for house prices to permanently move away from broader trends in the Irish economy.

“Of course, the outlook for demand could be materially altered by Brexit. A ‘soft’ Brexit, entailing a transition period and a reasonably close future economic relationship between the UK and the EU would probably see the Irish economy perform strongly in 2019. This could even lead to a brief ‘bounce’ in property prices.

“In contrast, if the UK were to ‘crash out’ of the EU at the end of March, this would put the Irish economy on a notably poorer footing. In turn, this would likely lead to a Brexit ‘bump’ in the property market as an economic slowdown would cause purchasers to hold back at least temporarily.”

INTEREST RATE WORRIES HAVE EASED If Brexit is now a major source of uncertainty for the Irish housing market, another concern has eased considerably of late. Austin says that a year ago, it was generally thought that rising interest rates would be a key feature of 2019. However, slower global growth and stubbornly low inflation mean expectations for both the timing and scale of interest rate increases have changed markedly, with ‘lower for longer’ now summarising current financial market thinking.

“Interest rates are exceptionally low by historic standards at present and, at some point, borrowing costs will move higher. But the ‘new normal’ of a more fragile world economy suggests that any eventual rate increases may be later and less aggressive than in the past.

“Moreover, current conditions have translated into downward pressure on market rates,” continues Austin. “As a result, the cost to homebuyers of protecting against any future increases in rates by ‘fixing’ their borrowing costs is lower now than what historically was the case.”

A steadier Irish housing market could help homebuyers

THE COMBINATION OF IMPROVING HOUSING

SUPPLY AND NO EARLY THREAT OF HIGHER

INTEREST RATES ARE SIGNIFICANT POSITIVES

FOR THOSE NOW CONTEMPLATING A FIRST

PROPERTY PURCHASE OR MOVING HOME.

A DULLER IRISH ECONOMY WOULD BE BETTER FOR HOMEBUYERSThe combination of improving housing supply and no early threat of higher interest rates are significant positives for those now contemplating a first property purchase or moving home.

While the shadow of Brexit hangs heavily over the near-term outlook, strong population dynamics, the resilience of the Irish economy and lessons learned from the downturn all mean anyone searching for a suitable property is unlikely to be alone.

“There are encouraging signs that the Irish housing market no longer looks to be on the rollercoaster ride of the past. A duller ‘macro’ environment should allow buyers to concentrate their energies on the vast range of personal considerations that go into finding a property that is perfect for them.”

Austin Hughes, Chief Economist, KBC Bank


‘IS THIS THE REAL LIFE, OR IS THIS JUST FANTASY?’There is a big difference between wants and needs. You might want a condo in the Bahamas, but you might need a house that is family orientated and a short commute to work (unless you work in the Bahamas, of course!)

“If you find a house that meets all of your needs and some of your wants, then you have probably found your new home,” says Mark Stafford of DNG (www.dng.ie).

“It helps to sit down and make a list of what’s important to you in a house.”

When creating your list of needs, focus on the things that you cannot change. A home with a ‘lovely carpet’ should never be on your list of must-have items. You can always replace a carpet further down the road. Your list of needs should only include things that would be hard or impossible to change (the location, the lot or the size of the home). Consider matters such as: What kind of house would you prefer? How many rooms? What kind of space do you need? How much square footage? Do I need to be close to a school?

MOVE BEYOND THE NORM“I would always advise those looking for a new home to try to avoid sticking to just

one particular area,” says Mark. “Discover alternatives that are close by the location you had your eye on. This means you are still near the amenities, but the houses could be that bit more affordable.

“If you’re not entirely sure about the area you are looking for a house in, a good way to become more certain is by staying overnight in the location. You could stay with someone you know who might already live close-by, or even book an Airbnb. This way, you can time the commute to work the next morning, go for a stroll or a drink and a meal in the evening, to see if the area is somewhere you think you would feel safe in. You’ll also discover if it is somewhere you could imagine yourself living in the foreseeable future.”

‘TECH-ING’ IT OUTWith the internet making it easier and easier to view potential houses from the comfort of your couch, Mark says it is important to view properties in real-time first, to get a true sense of area.

“However, this being said, technology can be useful throughout the home-buying process, when it comes to reviewing the house you have visited. An up-and-coming trend is the use of virtual reality (VR) to explore properties for sale. You can virtually

walk through a property room-by-room, on your smartphone, laptop or a VR headset. I think this is great if you wanted to show a family member the property for their take, or wanted to have a look at the house again in your own time.

“But nothing takes away from a real viewing. You can study everything that is around you in a house or an apartment, judge the length of the garden, and really see the level of light in the house.”

BUILDING A RELATIONSHIP“If you know an area, get to know the estate agents that are selling in that area,” advises Mark. “If agents know you, then they are more likely to inform you about any houses

coming on the market, and they are also more likely to let you know if there is any flexibility on the price.

“Go to viewings, meet the agents and follow up with them the following

week, even if it’s a property you have no interest in. Just let

them know that you are in a position to move, you have a loan approval in place and ask if they have anything else coming up. And if they don’t, put in a call two weeks later.

“You need to be on the forefront of their mind. There’s

no point in just waiting on the website for an alert. You’re better

off being proactive, especially if you’ve identified areas you like. And,

most importantly, have fun during the process. Finding your dream home should be one of the most exciting times of your life!”

What to expect when you’re inspecting!Once you have your budget set and your pre-approval, let the house hunting begin. We speak to Mark Stafford, Partner at DNG, about his tips for a successful search

Mark Stafford, DNG

“My fiancé and I opened up a joint savings account to help us save more efficiently. This takes an amount

from our wages every week from our

current accounts. If we didn’t have this, I don’t think we would have saved a penny, so I’d strongly recommend everyone to do this.

“It was scary to look at our spending habits! But we had to look at all of our outgoings and cut our spending where we could. We tried to do smaller things such as cancel our TV package, as it’s a huge monthly bill that we could do without.

“I used to stop for a latte every morning on my way to work and I cut this out completely! That’s five days a week at €2.50 each so clearly, I needed to stop. I now bring my own flask of coffee to work and bring my lunches. Doing all of this has really helped contribute to our savings goal.”n Laura Farmer from Co Monaghan

“At the start of our savings journey, we had planned on saving a certain amount each per month. But we soon

realised the figure was just not realistic.

Life got in the way; things such as car tax, new tyres and little things popping up that we hadn’t planned for. The best advice I could give is to be realistic on saving goals.

“We had to sit down and really look at our spending habits. Some of it was really surprising. We made savings such as cutting out online shopping, well for me anyway! There are concerts coming up that we both would have loved to have gone to, but it did not fit in the budget. So there has definitely been cut backs, but we know that it will all be worth it in the end.”n Natalie Hehir and Nigel Dooley, Co Offaly


“Have a savings goal and develop a plan to help you get there,” says Vincent Keogh, Head of Current Accounts, Savings, and

Investments at KBC Bank. “Typically, you need to have a deposit of at least 10% of the cost of the property. That’s a good starting point for first-time buyers so they can understand how much they actually need to save.”

Saving for a deposit on a house is one of the toughest parts of the home-buying journey. It requires dedication, sacrifice and an iron will. There can’t be too many nights out on the town, and you might have to pick up a library book instead of paying for a cinema date. But what do the experts say is the best way to start saving for your dream home?

“One of the most important pieces of advice I could give is to be realistic,” says Vincent. “Pick an area where you would like to live, but also think in terms of what’s affordable and what suits your budget.

“At KBC, we help first-time buyers understand how much they can actually borrow. We provide a number of helpful tools that are useful for prospective buyers. These include our online calculators that can be found on our website (www.kbc.ie)

into account is your bank account fees – this is an area that adds up if you are getting charged monthly or quarterly. At KBC for instance, we offer customers free day-to-day banking through our extra current account if you lodge €2,500 per month into your account. We don’t require customers to maintain the balance throughout the month, the only requirement is the monthly lodgement, and this is a great addition to your savings goal.”

Vincent adds: “If you start saving early, this will turn into a habit. I saved for a home myself and I know from personal experience that it can be difficult especially at the start, but just look at everything you’re doing and don’t be afraid to say no. You’d be surprised how much you can save by doing that.”

TAKE CAREWhen saving, there are a few potential pitfalls which should be avoided. One of these is not taking any extra costs into account. While 10% is usually the minimum amount needed for a deposit, you also need to allow for additional expenses.

“When you’re buying a home there are other things you need to consider, such as auctioneer fees, moving costs, legal fees and any furniture that you need to buy.”

But Vincent says there can be unexpected expenses which will reduce how much you can save that month. “Have a contingency for some unexpected moments that might occur. I would always recommend going into one of our KBC Hubs and talking to a member of our mortgage team. They will be able to provide you with additional information and give you guidance on what’s required.”

SAVING MONTHLYVincent says the best savings advice is to have a standing order to move a set amount of money every month between your current account and savings account. This ensures your money is saved before you ever have a chance to spend it. But it also has benefits when applying for your mortgage. A bank will look for evidence that you are able to save regularly as this shows you will be able to pay a regular mortgage payment.

“One of the best options at KBC for a

first-time buyer, who is saving monthly or regularly for a deposit, would be our Extra Regular Saver Account. If you have an Extra Current Account with us, and you lodge €2,500 per month, you can receive a competitive market rate on your savings. This gets our customers and first-time buyers into the habit of saving regularly, because that’s key. Once you’re saving regularly on a monthly basis it becomes a habit and you can see your savings grow over time as well.

“Finally, I would always recommend talking to our mortgage specialists at KBC who can go through your financial circumstances with you and point you in the right direction.”

Saving for your new homeShauna McCrudden speaks to Vincent Keogh from KBC about saving for that all-important deposit

Vincent Keogh, Head of Current Accounts, Savings, and Investments, KBC Bank

Irish people talk about their spending and saving habits

HOW I’M SAVING MY MONEY Whether you wish to get into the monthly

savings habit or have a lump sum to put away, KBC offers a number of products to help you save.

Monthly Savings: KBC Extra RegularSaver AccountIf you have a KBC Extra Current Account and lodge a minimum of €2,500 into your account every month, you’ll get extraordinary offers on your savings when you take out a KBC Extra Regular Saver Account 1.75% bonus on top of the current KBC

Regular Saver rate which totals to 2.07% (2.10% AER Variable) on your KBC Extra Regular Saver Account

^Save €100 - €1,000 per month and withdraw funds on demand

^^1 lump sum of up to €10,000 permitted. Max balance €40,000

^Funds must be lodged/withdrawn from/to your Extra Current Account^^Once the balance reaches €40,000, the entire balance will earn interest at the Standard Demand Deposit Account interest rate.

KBC Extra Current Account KBC’s Extra Current Account gives you extraordinary offers on a range of offers including daily banking, savings and more.

To experience extraordinary free day-to-day banking, all you have to do is lodge €2,500 into your KBC Extra Current Account each month.

Note: If you don’t make the monthly lodgement of €2,500, you will have to pay the quarterly fees and charges as set out in the KBC Fees and Charges Booklet and you will lose any benefits associated with the Extra Current Account. Fees and Charges may apply when using a debit card for purchases in foreign currency. Terms, conditions and exclusions apply.

Terms and Conditions The Extra Regular Saver can be opened in sole or joint names. The name(s) on this account must match the names(s) on the Extra Current Account.

If you don’t make the monthly lodgement of €2,500 or if you close your account you will lose any benefits associated with this account. The account will become the standard version of the account and the applicable interest rate will apply.

Rates subject to availability. Information correct as at 19th February 2019. Terms & Conditions apply. AER is the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.( Deposit interest is subject to Deposit Interest Retention Tax (DIRT) where applicable.

Lending criteria, terms and conditions apply. The property is mortgaged to secure the loan. Life and home insurance are required. The maximum mortgage is 90% of the property value.

KBC Bank Ireland plc is regulated by the Central Bank of Ireland.

Saving regularly is key

where customers can find out how much they can borrow as well as the amount they might need to save over a period of time.”

CUTTING BACKWhen starting to save, look at your household income and expenditures to determine if there are any areas you could cut back on.

“The more effort you put into it, the more you’ll get out of it. If you’re honest with yourself and look at all your expenses on a monthly basis, there are areas I’m sure everybody can cut back on. Those extra expenses incurred during the day, like coffee, all add up over a month and over a year.”

But it’s not just the small items that savings can be made on, larger areas of expenditure, such as your utility expenses, can also be looked at with the aim of saving.

“Look at your home insurance, car insurance and broadband supplier. Anything you pay on a monthly basis needs to be reviewed. There are comparison websites which can help find you a better deal on your bills. Another thing to take


STEP ONE:Book your appointment right now!If you’re serious about buying a house, then you should already have your mortgage appointment booked. If not, get on the phone, the website or just walk right in to one of KBC’s 16 hubs and get your future started.

“The first thing people want to know is ‘how much can I borrow?’” says Conor McGowan, Head of Mortgages at KBC Bank Ireland. “The second thing is ‘how much will it cost me every month?’. Our online calculators, which can be found on (www.kbc.ie), are a great starting point to answer both of those questions.”

As the first step, Conor advises people to make an appointment to meet one of the KBC mortgage team. This is to discuss what you are looking for in terms of your new home, understand the documentation you are required to provide and go through your financial status to establish your affordability and readiness to get mortgage approval.

“Our online booking platform offers you the facility to meet with one of our mortgage experts in any of our 16 hubs across the country that have flexible opening hours. These include late opening on Thursday evenings, Saturday opening and our Blanchardstown hub also opens on Sundays. In addition to this, our contact centre is open 24 hours a day, seven days a week.”

STEP TWO:The (not-so) scary part – the paperworkDon’t fret about what you need to submit. There probably isn’t a valid reason to bring your 4th Class report card or a reference from your first job 15 years ago to the bank! There is a handy checklist on the KBC

website (www.kbc.ie) which outlines the application requirements in detail. Typically, you will need:n A completed mortgage application form n Proof of identity – One form of

photographic ID such as a passport or driver’s licence

n Proof of address – One utility bill or bank statement sent to your address dated within the past six months

n Proof of employment – This needs to be completed and stamped by your employer within the last six months. It must be accompanied by two recent payslips and an original P60

n Bank statements – Six months of continuous current account bank statements or e-statements; six months of continuous savings account statements; most recent personal loan statements; two months of continuous original credit card statements or e-statements (the latest dated within the last three months)

Self-employed applicants require some additional documentation along with the above:n Financial/audited accounts – These

should be from two of the most recent financial years signed by your accountant

n Tax returns – Two most recent years’ tax returns (P21 or Notice of Assessment or Chapter 4 Revenue Certificate with full

completed Form 11) along with a Tax Clearance Certificate(If the mortgage is a joint application

with a partner you will both need to submit the required documents above)

STEP THREE:Assessment After going through your documentation and your own personal circumstances, all the information is sent to the bank’s credit department, where it is assessed. Conor says that affordability is the main thing when assessing a customer for mortgage approval.

“It’s important that you have a life as well as paying your mortgage, so we look at employment status and income, savings and borrowings and outgoings like rent or childcare when assessing an application. So, if you are saving €500 per month and paying €1,000 per month in rent, you are already showing you can afford €1,500 a month in a mortgage repayment.”

KBC offer mortgage terms up to 35 years depending on your age, so there is something to suit everyone.

Once assessed and you are successful, you will then be given an Approval in Principle (AIP) based on that.

“The AIP allows you to go out and get shopping for the home of your dreams,” says Conor. “Having an AIP shows that you are able to buy a home and are in a better

position than a buyer who has yet to start the mortgage process.”

Even if you don’t have a house already lined up, you can still apply for a mortgage and get an AIP.

HOW DO I BUY A HOME?Go from applicant to homeowner with this step-by-step

guide to a KBC mortgage

Conor McGowan, Head of Mortgages, KBC Bank Ireland

STEP FOUR:The approval you always wantedThis is it! You have your AIP and can now find the home of your dreams.

KBC’s AIP lasts 6 months, and it tells you how much money you can borrow at that time, whilst you’re busy looking for a home.

Once you find the house, the next steps are easy.

Conor says, “At KBC, we will arrange a valuation on the property through one of our valuers to show that it’s worth what you’re paying for it and the mortgage is appropriate for that property. We can then progress to a formal loan offer. This is the

contract between you and the bank, so you and your solicitor will be required to review this before you draw down the funds.”

STEP FIVE:What type of rate do you want?There are two different types of mortgage rates available to choose from – variable or fixed. Variable-rate mortgages mean that the rates can change at any time and so can your monthly repayments. A fixed-rate mortgage means your monthly repayments will remain the same for a period of time of your choosing. It’s important to consider what best suits you when choosing a rate.

“Variable-rate mortgages are good if rates are going down, but obviously if rates go up, so does your monthly repayments. A major thing to take into consideration is your employment status. Lots of people are working in industries where they receive a regular bonus or commission payments. A variable rate allows you to make additional lump sum payments and so reduce the length of time to repay your mortgage.

“A fixed rate gives you the comfort of having the same rate to pay day-in and day-out. Mortgage rates are quite low at the moment and as a result, fixed-rate products are proving very popular with first-time buyers, giving that certainty of repayment for anything from one to 10 years depending on your preference.

“If you like both options, it is also possible to split your mortgage between variable and fixed rates, giving you the best of both worlds.”

STEP SIX:All the other stuffYou have your mortgage and your house, so that’s it right? Not quite yet, there are just a few more steps to go. Conor says that when you have your mortgage and house, you will need insurance on both your life and your home. Mortgage Protection Insurance means that your mortgage will be paid off if something terrible were to happen and either party to the mortgage was to die before the mortgage term was complete.

“It’s also good to consider income protection insurance. KBC offer a range of products through our insurance providers, Irish Life. Home Insurance is also required

before drawdown, and again we can help customers with this should they require assistance, KBC can arrange this through Zurich Insurance with discounts* available.

What advice does Conor have for people getting ready to go through the mortgage process?

“Get prepared early. If you are considering a house purchase, make sure you are managing your finances well. Show you can keep your current account in order and remember to show some savings history.

“Also, stay in touch with your mortgage specialist. He or she will help you through each stage and point out any additional requirements and next steps along the way. It’s an exciting time but can seem daunting, so let the experts do the work.”

For more information on mortgages, visit www.kbc.ie


1. Approval in Principle (AIP) – Lasts 6 months, and it gives you an idea of how much money you can borrow at that time, whilst you’re busy looking for a home.

2. Fixed rate mortgage – With a fixed interest rate, the monthly repayment you make is fixed for the period you choose, (normally one, two, three, five or 10 years). After this fixed-rate period has passed, your interest rate will become a variable rate unless you choose to take a fixed rate for a further period. A fixed rate is not affected by changes in general market interest rates.

3. Variable rate mortgage – A flexible rate that allows you to increase your repayments or use a lump sum to pay off all or part of your mortgage. With a variable rate, your monthly repayments may rise or fall, your monthly repayments reduces, and if variable rates rise, your monthly repayment increases. Variable rates can be increased or reduced at the discretion of the lender

4. Term – The term is the length of time over which you agree to pay back your mortgage. This is typically up to 30 or even 35 years.

5. Stamp Duty – A tax the government puts on your new home, costing 1% of the property price up to €1 million.

Q. How does someone arrange a meeting in one of the KBC hubs?A. If someone wants to discuss their mortgage, they can arrange a meeting with KBC in a number of ways, either in person or over the phone. This can be done by calling into their local KBC hub and meeting with a member of our mortgage team. We have 16 hubs across the country which are open late on Thursday and also open on Saturday from 10am to 2pm. This means we can facilitate people outside of the 9-5pm working hours. You can also talk to our mortgage team by phone on 1800 515253.

We are committed to offering a banking experience that works for our customers which includes the flexibility to bank with us whatever your home, work or study schedule is.

Q. When someone comes in for their appointment, can you tell me what happens?A. My advice would be to come in and meet one of our mortgage team in person and start building a relationship. Our team will take you through the process from start to finish.

If someone comes in to meet me, firstly I would review their financial situation to see how much they can borrow. In doing this, I look

MORTGAGE JARGON BUSTERDon’t know what a mortgage term means? Well you’re not alone! From AIP to stamp duty we are here to break down the most confusing mortgage jargon for you

at their current employment history and their salary. I also look to see if they have any debts outstanding such as credit cards or personal loans. This may affect how much they can borrow.

If someone has an issue in the past with credit history or performance of a loan, it’s best to inform me immediately. This means I can at least pre-empt it before it goes to loan approval.

Normally at this stage, I would also help the customer fill out their mortgage application form and give them a mortgage checklist in order to get them their approval in principle. The AIP lasts 6 months, and it gives you an idea of how much money you can borrow at that time, whilst you’re busy looking for a home.

Q. What does a person need to bring with them for their first meeting? A. At the initial meeting, a potential borrower does not need any documentation. They just need to come in and let us know their exact salary and the amount of savings they have. I will then give them a checklist of documentation that I will require to get them pre-approval. I will of course look for evidence of savings and how they managed to save it all, evidence of rent and any other personal debt.

Q. Are the experts and managers at KBC able to answer any questions that a person may have about getting a mortgage?A. All of our mortgage team are qualified financial advisors and are knowledgeable on all of KBC’s mortgage products and criteria. As a manager at KBC, I have in-depth knowledge across the full spectrum of mortgage products we offer.

Buying a new home and securing a mortgage is one of the most important decisions in a person’s life, and we try to make this process as easy as possible.

Q. It can be an anxious time, especially for a first-time buyer. Do you have any advice for how the mortgage process can be made smoother and less stressful?A. The best advice I can give is to try and have a good handle on your finances. Our online calculators on (www.kbc.ie) will indicate an amount that KBC will lend based on your salary, then decide if this amount fits into your budget. We want customers to be able to have a lifestyle when they move into their new home too.

We understand that this process is hugely important, and we take the time and interest in our customers to ensure that the process is as smooth as possible.

Inside secrets! What your first mortgage appointment looks likeBreda Gormally, Hub Manager of the KBC College Green Hub answers all the questions you have about that first mortgage meeting

*Offers subject to terms and conditions. Exclusions apply. KBC Home Insurance products are exclusively underwritten, administered and provided by Zurich Insurance plc, subject to Zurich Insurance underwriting terms and conditions. KBC Bank Ireland plc has an exclusive agency agreement with Zurich Insurance plc for the provision of Home Insurance. Zurich Insurance plc is regulated by the Central Bank of Ireland. KBC Bank Ireland plc is regulated by the Central Bank of Ireland. Lending criteria, terms and conditions apply. The property is

mortgaged to secure the loan. Life and home insurance are required. The maximum mortgage is 90% of the property value. KBC Bank Ireland plc is regulated by the Central Bank of Ireland.

WARNING: IF YOU DO NOT KEEP UP YOUR REPAYMENTS, YOU MAY LOSE YOUR HOME

WARNING: IF YOU DO NOT MEET THE REPAYMENTS ON YOUR LOAN, YOUR ACCOUNT WILL GO INTO ARREARS. THIS MAY LIMIT YOUR CREDIT RATING, WHICH MAY LIMIT YOUR ABILITY TO ACCESS CREDIT IN THE FUTURE

VARIABLE RATEWARNING: THE COST OF YOUR MONTHY REPAYMENTS MAY INCREASE

FIXED RATEWARNING: YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED RATE LOAN EARLY

WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT.


“A couple of years ago, myself and my now husband, Gerard, were renting an apartment in Dublin,” says Janine Nowlan. “Soon

after, I became pregnant with our son, Jesse, and around the same time, the price of rent skyrocketed to about €1,700. We had no choice but to move in with Gerard’s parents to both raise our child and save enough money for our own place.”

Janine (31) and Gerard (33) met over 14 years ago and their story is a very interesting one. After being set up by friends in their late teenage years, both Janine and Gerard decided to move to the UK in 2012. Gerard was studying Sports and Exercise Sciences in the University of Chester, while Janine was working in the legal industry.

“In 2015, we planned a trip to Las Vegas with our friends,” says Gerard. “It was during our 10th anniversary, and it was for this reason, that we took the plunge and decided to elope. We just thought, ‘why wait?’ I was probably one of the only crazy people to get married when I was still in college, but it was the best decision we ever made!

“A year later, job opportunities brought us back to Ireland, so we started renting an apartment together in Dublin. I began a new job at Sport Ireland, which directs the development of sport within Ireland, and I’m still there today. Meanwhile, Janine began working as a legal secretary.

“Then, Jesse came along! So, we started really thinking about getting on the property ladder.”

MAKING A MOVEWith childcare costs to consider when Janine went back to work, along with the increase of rent prices, the couple had no choice but to move in with Gerard’s parents.

“We thought we had a good bit of savings, but when we started looking at houses, we realised that we would need to sacrifice more and be careful with what we were spending,” says Janine. “Even though the rent price was high, we were earning just enough money to pay it, which also shows we would be able to make mortgage repayments in the future. It was mainly having the cash for the deposit, that required us to move in with Gerard’s parents and save hard to get the money together.”

Gerard says, “It was a difficult couple of years, being back with my parents. We were very grateful for their generosity, but it is hard moving home in your 20s after becoming newlyweds, with a new baby, starting our own family.”

“We had it very good there, but you do miss your own space, and I’m sure that Gerard’s parents missed their own space too!” laughs Janine.

However, Gerard advises anyone in the same position not to feel discouraged about moving back in with parents until enough money has been saved.

“A lot of my friends have done it too. Even Janine’s sister is living in her parents’ house at the moment, but she has it a little

worse than us. Because there is less space in Janine’s parents’ house, her partner has to live in his own parent’s house, so they’re apart from each other. Whatever your situation, it will all be worth it in the end when you have the key to your new home in your hand.”

SWITCHING IT UP When it came to searching for a suitable mortgage provider, KBC Bank came out on top for Janine and Gerard, even though they were not existing customers.

“We were both long-term customers of different banks, but Gerard did some research into the rates and benefits that other banks were offering,” explains Janine. “KBC Bank appealed to us the most, even with little things, such as being open during convenient hours and receiving calls back a lot quicker. There was always someone at the end of the phone to answer questions, and they reassured us that no question is silly.

“After living in the UK and getting used to not having any bank charges to pay over there, it was difficult coming home to pay expensive bank charges every quarter on a joint account and two current accounts. We noticed with KBC’s Extra Current Account that as long as you lodge €2,500 every month into your account, there would be no quarterly maintenance fees which was welcome. In hindsight, it would only be a small amount that you are paying every month toward bank charges. But when it is two separate accounts, it’s a bit of a blow seeing this money being taken, especially when trying to save.”

Janine and Gerard visited KBC’s Blanchardstown Hub and Janine says making the switch over to the bank was easy.

“It was the part I was a bit apprehensive about – I was even considering keeping my accounts with the other banks because I thought it would be a hassle changing years of direct debits, standing orders and bank cards set up with other online accounts. But the process ended up being straight forward.”

Their first mortgage appointment went just as smoothly, says the couple.

“I was surprised by how easy the process was. I was expecting to be very overwhelmed, but they detailed exactly what we needed to do over the next week and what documents we needed in order to apply for the mortgage.

“Applying for our mortgage with KBC was actually the easy part. Decorating the house turned out to be the part causing me a headache!” laughs Gerard.

“But it can be a fun part too!” says Janine. “We also initially worried about if we would qualify for a mortgage, based on our bank statements. I had heard from friends who bought houses that you need to have identical savings every month, for example.

“When I went into KBC Bank, I told the mortgage team I was a bit notorious for using the tapping system on my bank card, as opposed to carrying cash. I was worried

that all the coffee transactions and other personal transactions would be taken into consideration. Luckily, they laughed and told me not to worry. They said that as long as I wasn’t taking out lump sums of cash each month, which wasn’t being spent inappropriately, that we should be fine. They said that it is nice to be able to see that we enjoy our lives reasonably.

“We even went on our first holiday as a family in the month before we got our mortgage,” says Gerard. “We were initially thinking about not going because we thought we couldn’t have such a large expense coming out of our bank account, before we applied for a mortgage. The bank looks at your statements over an average of six months, so if you do have one month

Photography by Angela Halpin

where something like a holiday comes up, that’s absolutely fine. We would have been kicking ourselves if we hadn’t booked the holiday and then found that out!”

OVERCOMING BARRIERS Janine and Gerard had two different houses in mind when they were searching for their dream home. When choosing their house, it was with the intention of finding a place they could comfortably settle in long-term and a place where their son would be happy growing up.

“As soon as we had our son, our priorities changed in relation to what we were looking for,” says Janine. “In terms of location, we wanted to have a school nearby and a safe area for him to play outside in. We

With rent prices rising and a new baby on the way, Janine and Gerard Nowlan knew the time was right to get onto the property ladder. Here,

they tell their story to Clodagh Dooley

HOME, SWEET, HOME


found the perfect semi-detached home in a private estate in Clonee, which has a large green area out front and is approximately a 20-minute commute to our jobs.”

Although they had found the perfect home, unfortunately for Janine and Gerard, the road to securing the key wasn’t as perfect.

“We got locked into a bidding war with the house we wanted,” says Gerard. “It went up €40,000 within two weeks. When we called KBC Bank to explain that this was the house for us and to query if they could lend us more, they went above and beyond to see what was possible, taking our financial circumstances into account. They re-assessed our paperwork and they were able to see that we had continuously

paid our rent, saved a substantial amount every month and paid childcare, so we could afford it. That was a huge relief.”

Once the couple overcame that barrier, however, they were faced with another – the house was in probate. When someone dies, their property immediately passes into the hands of the executor’s. For their property to be divided according to their wishes, the executor of their estate must apply to the Probate office to take out a grant of Probate in order to administer their estate.

“We got our Approval in Principle in July and the sale was agreed on the house in August 2018,” says Gerard. “But we only got the keys in the second week of January 2019. It was dragged out a bit, but at the same time we felt confident that everything

was okay, and nothing was going to fall through. This was because David in KBC’s Blanchardstown Hub was doing everything he could to help.

“We were also fortunate enough in the fact that we were still living with my parents, so it allowed us to save more money for when we eventually moved in and started doing work to the house. We look at it now as a positive factor, but at the time it was an agonising wait.”

ONWARDS AND UPWARDSJanine and Gerard are looking forward to the months and years ahead in their new home.

“I’ll admit, once we had the keys to the house, we actually started panicking a little

because it seemed like such a long time since we had last viewed it. We started to forget what it looked like inside!” says Janine. “Because our house had been rented beforehand, we started questioning what we were getting ourselves into! Now that we are living in it, it’s funny how quickly it has become our own.

“We are currently renovating the house and we eventually would like to extend our kitchen, but we are delighted to finally have our home. We can’t wait until it is all complete, it’s very exciting.”

Gerard adds, “We feel very lucky to have had such a pleasant experience with KBC Bank, especially when we came across some challenges along our home-buying journey. KBC didn’t overcomplicate things and really helped us to understand everything about mortgages in a simple language. We found that very helpful, being first-timers on the property market.”

For information on how to apply for your mortgage, turn back to page 8 or visit www.kbc.ieFor information on KBC’s Extra Current Account, turn back to page 6 or visit www.kbc.ie

Janine and Gerard did not receive gratuity


You have done what you once thought impossible. You have bought your house! And now as the moving truck drives away, you’re left to your own devices and

your own bare walls. So, what next?“Invite all your favourite people to

your house and celebrate!” says Caroline Flannery, Interior Designer and Creative Director of Interiors by Caroline (www.interiordesignerdublin.ie).

“Moving into a new home can be

exhausting and stressful, not to mention expensive. Decisions can be made which may be regretted later. So, relax after you have just moved in!”

When you move into a new house, it can be difficult to know what to do first. For people coming from having a landlord

I bought my first home, what next? Here are some things to consider when you land the key to your brand-new home

Maintaining your home is a requirement of being a homeowner. But so is creating the home you want through design. When is the best time to change up the style of the house?

“My advice would be to live in the house for at least one season if possible before making any big interior design decisions,” says Caroline Flannery, Interior Designer and Creative Director of Interiors by Caroline.

As tempting as it can be, Caroline says that rushing into decorating is not always a good idea.

“If you want to start right away, paint all your interior walls the same colour, perhaps a warm white or a light neutral. Painting all the walls the same light colour will help you really ‘see’ the space.

“Any interesting architectural features will become more apparent and it will give you the opportunity to observe the light and how it changes throughout the day. This can really help when it comes to designing your colour scheme later on.”

It can be difficult to hold back on making design plans for the new house, but Caroline says it’s common for it to take time. It’s best to get it right. So does she have any tips from her own moving days?

“My own house was very unusual. It was originally designed as an art exhibition space

for years, or even those coming from their parents’ houses, suddenly they are thrown into a situation where everything in the house is their responsibility alone.

If the washing machine breaks down, you can’t call your landlord to come fix it. If your heating stops in the middle of the night, you

have to call the repairman in the freezing morning and wait for him to show up all day. This is your home now, so here are the five biggest things you should do when you get there:

1. CHANGE THE LOCKSIt is a brand-new start and you need to make sure your property is safe. During the sale of any house, the key can pass through many people’s hands. The previous owners could have cut their keys to give to their friends and neighbours. You don’t know how many people actually have the current key to your house, so the best advice is to change the locks immediately.

2. UPDATE YOUR ADDRESSThis is now your permanent address, so better make it official. It’s time to change the address on your different online accounts, your subscriptions, your bank and so on. You can pay a fee to An Post to ensure that all your post is forwarded to your new address. Up to three months the fee is €50; Up to six months €70; and up to 12 months €100. To avoid this amount, change your important contacts as soon as you can.

3. THE BIG SWITCHDon’t get lumped with a bill that isn’t yours. If you are moving into a home which was previously occupied, ask the previous owners to transfer the utility accounts into your name. It’s a good idea to take meter readings for gas and electricity the second you are in your home, so you know what is your bill and what is not.

4. SAFETY FIRST Go around the house and check the smoke detectors and change the batteries. If there are no detectors, buy them at any home improvement shop. Also, check if your new home has a carbon monoxide detector, if not, buy one for the house. These checks should be on the very first day so you can sleep peacefully at night.

5. SHUT IT OFFTake the time to locate your circuit breaker. If your electricity cuts out one night, you will need to know where you can turn it back on. The same goes for water and gas. Better to be safe than sorry.

with just one internal wall which housed the bathroom, and apart from that it was completely open plan. The first thing I did (after the big party I threw, of course) was create a scaled 3D cad model so I could explore lots of different layouts. It took quite a while to decide how to divide the space up and I lived out of boxes for many months. But it was worth it!”

One of the big choices for any new home is choosing the furniture. This is a choice which can’t really wait for six months, as you need a couch to sit on in the meantime. How do you smartly choose furniture for a house? Is it a practical consideration or fully a design one?

“Furniture should certainly be practical, but in order for your interior design scheme to be a success, your furniture should not only

be beautiful but should also work with the proportion and scale of your room.

“I recommend starting with a scaled plan. Measure your room and decide on your layout before purchasing anything. It’s also a good idea to use masking tape to mark out the dimensions of the furniture on the floor, particularly for larger items such as your sofa and dining table. This will give you a sense of how much space each individual piece will occupy in the room before committing to a purchase.”

With most new homes, it is usually a couple moving in together. This can make designing the house difficult as there can be two different personalities competing for space. Caroline recommends communication to merge their two different personalities when designing the house.

“Communication is key when designing for a couple. It is important that neither person feels they have to compromise on the decoration of their home. If both have strong views, ideally both will be equally involved throughout the entire design process. Sometimes it can get quite heated, but we always get there in the end!”

Making a moveWhat to know about upscaling your home after your big move

Caroline Flannery, Interior Designer and Creative Director of Interiors by Caroline


Owning your own home is costly and it may be one of the biggest and most valuable assets in your lifetime. Remember the years it took to save up to get your

mortgage and all those homemade lunches you brought to work? Remember how you spent months figuring out which shade of red you should paint the living room and then just painted it cream in the end anyway? Don’t let all your hard work go to waste. Having the right home insurance can prepare you for any unexpected crisis and save you from having to fork out a lot of money in the future.

With that in mind, here are the five biggest things you need to know about home insurance:

1. WHAT IS HOME INSURANCE?Home insurance covers losses and damage to a person’s house and to contents within the home. Insurance can be bought separately for both the building and contents, but can also be sold as one single policy. This kind of policy covers:n The building; your house is insured

against damage from the likes of fire, theft and weather damage.

n The contents; these are items within your home such as television sets, sofas and kitchen equipment. High-value items such as jewellery and electronic equipment can also be covered outside the home under an optional extra called all risk cover.

n Extra benefits; these include public liability cover, lock replacement and alternative accommodation.

2. WHAT KIND OF DAMAGE DOES HOME INSURANCE PROTECT AGAINST?There are many types of damage covered under home insurance, but the most common types are:n Flooding

n Damage from weather events such as the ‘Beast from the East’

n Fire n Theftn Burst pipes due to freezing conditions

Ciaran Ryan, Head of Insurance Products at KBC Ireland, says it’s important to protect your house from any unexpected crisis which crops up.

“Customers should protect both their home and their contents within the home against weather damage, theft and general loss,” says Ciaran. “Last year, there was a surge in home insurance claims against the

extreme weather conditions such as storms and heavy snowfall. These events show how important home insurance is.”

3. WHAT IS PART OF THE BUILDING COVER AND WHAT ARE THE CONTENTS?Ciaran says, “The simple way to look at it is to imagine you are moving out of your house. Your contents would be anything you could put into the removal van, such as beds, televisions, furniture and even clothes, which a lot of people seem to forget about!

“Then you have your high-value items such as jewellery, laptops and expensive sports equipment. These need to be specified under a policy protecting those possessions both inside and outside the home. These contents need to be independently evaluated for the policy. Items such as fitted wardrobes, or a fitted kitchen are there to enhance the property and are therefore under the buildings cover.”

All types of insurance are there to protect against the ‘what if ’ scenarios. What if your house was flooded, or what if you were robbed and your €5,000 engagement ring was stolen? So, what if the worst does happen? What do you do to make a claim?

“The first thing to do is contact your insurer and register your claim,” says Ciaran. “The insurer will investigate that claim and seek evidence about what happened, and ask about the items lost and their value. For any claim, it is important to have items evaluated and keep receipts as evidence. My advice would be to also take photographs of any high-value items in the event of theft, to prove they were exactly as you say they were.”

4. HOW MUCH DO I INSURE FOR?When taking out insurance on a home, it’s important to know just how much to insure your building for. Ciaran says he would advise people to visit the Society of Chartered Surveyors website. They have a guide in terms of house rebuilding costs and a calculator (www.scsi.ie/advice/house_rebuilding_calculator), to figure out a broad evaluation of what to insure for.

When determining how much to insure your contents for, remember to also include your clothes and, of course, any high value items you own.

“My advice for those taking out home in-surance would be to also look at the benefits provided. These can include public liability cover and alternative accommodation cover. Alternative accommodation covers the cost of alternative accommodation if your property suddenly becomes uninhabitable as a result of a claim. These provide peace of mind for customers if a disastrous event takes place.”

5. HOW MUCH IS HOME INSURANCE?There are a number of determining factors as to how much your insurance premium will be. Some of these factors include your number of years claim free and whether there is an alarm on the property.

KBC Bank offers competitive home insurance, which also includes unspecified all risks cover up to €2,000* automatically included on the policy and there is no additional charge if paying by direct debit.

Ciaran says: “For anyone confused about their home insurance, I would encourage people to visit any of our 16 KBC hubs, or give us a call on 1800 51 52 53.or visit www.kbc.ie.”

*Only available on owner occupied and contents only policies.

KBC Home Insurance products are exclusively underwritten, administered and provided by Zurich Insurance plc, subject to Zurich Insurance underwriting terms and conditions. KBC Bank Ireland plc has an exclusive agency agreement with Zurich Insurance plc for the provision of Home Insurance. Zurich Insurance plc is regulated by the Central Bank of Ireland. KBC Bank Ireland plc is regulated by the Central Bank of Ireland.

Ciaran Ryan, Head of Insurance Products, KBC Bank Ireland

Five things to know about home insuranceWe speak to Ciaran Ryan, Head of Insurance Products at KBC Bank Ireland about the importance of home insurance and exactly what homeowners need to know


“If some of the rooms of your

home are not yet ready, that doesn’t mean you can’t invite people over and make a lasting impression with your interiors,” says Lisa Marconi, interior designer and co-founder of Dust, a design studio and online interiors store (www.dust.ie). “Don’t worry about having every detail complete. Just make sure to have some key statement pieces. A big mirror and a beautiful oversized central pendant will make sure no-one notices whether you’ve finished the space.

“Mood lighting is also your friend! Low, atmospheric lighting not only makes everything look beautiful, but it hides a multitude of sins.

“There are some fabulous things being done with neon lighting. You can get some cool symbols, or customised writing in any font and colour. It’s a great way to bring lighting into your space and provides an edgy feel.”

Lisa says artwork is a key way to add a personal touch to a living space. Using light to accent a piece will not just bring an interesting design element to the home, but also make it the focus for guests.

“There are so many places selling interesting artwork at good prices, it doesn’t have to cost a fortune.”

Many people may feel they need matching colour schemes, accessories and furnishings in rooms for their home to feel complete, but Lisa advises not being afraid to mix what you already have. “Maximalism is one of our favourite trends at Dust. More is more – more objects, patterns, textures and colours. We are also loving fringes right now, such as fringed cushions or lampshades.

“Have fun with your home. When it comes down to creating a welcoming space, it is so important that your home design makes you smile.”

Lisa stresses the importance of thinking before you buy anything big, such as dining tables or couches, “Don’t start buying until you’ve really thought about the big picture. One of the main issues we find when we go to people’s houses is that they’ve bought a major piece of furniture on an impulse and are now unhappy with it.

“The best thing about accessorising is that these are definitely things that you can always keep adding to, as you find things you love.”

WORK FROM HOMEIt’s estimated that 216,000 people in Ireland are working from home, at least some of the time. No matter where your office space is in the home, it pays off to develop a space that reflects creativity and productivity.

Claire Price, Interior Architect at House Edit (www.houseedit.ie), understands this all too well.

“My own home office is north facing. So, instead of working against the dull light, I embraced it by painting the office a moody deep charcoal grey and invested in good task lighting, which lights a particular section, such as a desk, for accuracy in a workspace. The dark colour gives ample opportunity to add pops of colour with accessories and stationary.

“Colour is subjective, it really depends on personal taste, but I would always recommend steering away from very bright, full chroma colours in large quantities for a home office. It can become distracting and over-stimulating for the senses. Experiment instead by

“Incorporating greenery into your home purifies

the indoor air and generally promotes a sense of calm and wellbeing,” says Elaine Regan,

Interior Architect at House Edit. “You

can add the feeling of outdoors to most rooms,

but you are at an advantage if you have a visual connection to the outside. For example, via windows, sliding or bi-fold doors opening out onto an outdoor space. If that is not an option, these are some simple ways to bring the outside in:

“1. Don’t be afraid to group many plants together on a window sill or fill an old piece of furniture with an open top.

2. Group different varieties of succulents of different shapes, textures and sizes on side tables or even the centre of coffee tables.

3. If you have a visual connection to the outside, continue similar tiles from the outside in. It is a great way to connect the indoor to outdoors whilst creating a sense of continuity.

4. Play with scale by using larger, medium and smaller potted plants in oversized vases or plant baskets.”

Be creative with your greenery, advises Lisa Marconi of Dust.

“For example, we styled a marble-and-brass drinks trolley with different plants for a client. Another unique way to use greenery is as a room divider for two spaces. Get a simple piece of open shelving and fill it with plants – it’s a gorgeous feature.”

Elaine says, “You could also fully embrace greenery by creating a plant wall or ceiling. Fix an indoor trellis or two small, slim timber ladders to your existing wall or ceiling, then add hanging pots and foliage galore. Eucalyptus is a great way to add structured foliage to your home and is popular amongst designers for styling, as it is long-lasting.”

As well as bringing nature into any room of your home, transforming backyard sheds into stand-alone garden rooms is becoming a trend.

“Garden rooms can be an ‘escape’ from busy family life or can be a haven of tranquillity for people simply looking to relax,” says Elaine. “There are Irish companies who can build and personalise bespoke garden rooms from scratch. Gardenrooms.ie is one of the more notable companies we know. You can convert a timber shed, but you need to make considerations for insulation, weather-proofing and electricity if you intend to work in the space.

“Keep wall colours neutral and then layer the space with plenty of greenery of varying sizes and different textures. As we always say, the more the better!”

House Edit love this Feuilles De Luxe wallpaper by The Loft and Us

How to create an internal gardenWhether it is for your living space or home office, capturing the essence of the outdoors and bringing it into your home can create a relaxed and natural style

Work, play, loveAs well as being functional spaces to live in, the home is a space where you can also socialise and work. However, the rooms don’t need to be fully decorated before you start thinking about hosting a housewarming party or creating a home office. Here, the experts share some of their top ways to add a personal and welcoming touch to your décor

Use art to inject some fun into a space. Designed by Dust, photo by Ruth Maria Murphy

adding colour through styling – desk lamps, office chairs, clocks and stationary are all great ways of doing this.”

Claire advises getting the basics right from the outset. “Have fit-for-purpose furniture. A good desk with ample storage is key. Drawers work far better than cupboards and allow for better organisation and I would advise investing in a good desk chair. It is important that the chair is the correct height and is supportive. A chair that looks great but isn’t fit for purpose will create a multitude of future shoulder and back problems.”

Claire adds, “Surround yourself with things you love that inspire and motivate you, and make sure to use your storage units to avoid a cluttered workspace!”

Lisa Marconi

Claire Price

Elaine Regan

Office design by House Edit

MOVE IN MOVE UP - KBC Bank Ireland · with the same employer. And while you may have a comfortable...

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