Consumer Director, Mary O Dea said, "The guide points out some of the most important things to think about when getting a mortgage It explains how to work out how much you can borrow, what size mortgage you can get and explains some of the risks with 100% mortgages. It details how to choose a mortgage, explaining the different types of mortgages, interest rates and flexible payment options.”

Mary O Dea added, "No matter what type of mortgage you choose, the crucial thing to consider is what you can afford to repay every month. It can be tempting to overstretch yourself and borrow as much money as you can, but you really need to look at what you can afford each month and work from there. Remember that your circumstances could change and if interest rates were to rise or you or your partner had to stop working for some reason, you could find it difficult to make your mortgage repayments. Once you have established what you can afford to repay, you should then look at the size of the mortgage and how long it will last. Bear in mind that a Euro 200,000 mortgage will cost you about Euro 100,000 in interest over 25 years so it is important to choose wisely."

For people who already have a mortgage, the guide has information on reviewing your mortgage and how to change lenders. It also details what to think about if you are increasing your mortgage and points out some of the risks of consolidating all your loans into your mortgage.

The complete guide is available to download in our download section