Buyers Guide

Mortgage Advice:

Securing a Mortgage:

There are many options available to those applying for a mortgage. Banks, Building Societies and some Credit Unions will offer various loan rates and terms and you should take a look at what they each have to offer.

Make sure you are ready by putting together all the necessary documents for your mortgage application:

  • 3 months’ payslips
  • 6 months’ current account statements
  • 6 months’ bank/Credit Union saving statements
  • 12 months’ loan account
  • P60

For many people using an experienced broker is the best option as they are aware of the obstacles and pitfalls of the process. However, applying directly to your bank or building society may be your preferred route, with online applications now making the process much easier.

Some of the choices you will need to make can include:

  • Choosing a fixed or variable interest rate mortgage
  • How much can you borrow
  • Mortgage term
  • Best mortgage rate

Once you mortgage is secured you are ready to start house hunting.

Help to Buy Scheme Application:

You should apply for the Help to Buy scheme at this stage if you think you are eligible.
The Help to Buy (HTB) scheme helps first-time buyers of newly-built homes to buy a new house or apartment. It only applies to properties costing €500,000 or less.

You can claim relief on the lesser of €30,000 or 10% of the purchase price of the property.

Please contact our office for more information on completing the application process.

Choosing a New Home:

OLOS New Homes are one of Corks leading residential building companies and have been supplying new homes to the Cork market for over 20 years.
We strive to be a construction industry leader, providing value-added construction services to our customers by creating a successful partnership with them throughout the building process.

We provide homes of the highest standards built to the latest specifications with superb energy efficiency and sustainability into the future.

Our pledge is to establish lasting relationships with our customers by exceeding their expectations and gaining their trust through exceptional performance by every member of the construction team.

We are members of CIRI and the Homebond National House Builders Guarantee Scheme.

All our developments can be viewed at Including our current projects at

  • Ard Abhainn Nua, Knockraha, Glanmire
  • Coppenger Fields, Whites Cross, Cork
  • Cluain Ard, Blarney
  • Glenn Rua, Courtbrack

Paying a Booking Deposit:

Booking Deposit

Paying a booking to OLOS New Homes or their agent allows you to secure a particular house on any of our developments. The deposit of €5000 is refundable should contracts not be exchanged on your house (if you change your mind). When paid it allows OLOS New Homes to instruct our solicitor to forward contracts to your appointed solicitor and begin the sales process.

Deposits are usually paid by bank transfer. Our accounts department will forward the necessary bank details to you once we have agreed your sale and provide a receipt once funds are received.

Deposit Balance

A payment of 10% of the purchase price, less your initial booking deposit is payable once you have signed the contracts, at which time monies paid become non-refundable.

Final Steps

Site Visits:

All site visits will be arranged by the site manager on your chosen development.

Site visits are arranged when purchasers are interacting in relation to bespoke items in their new home, such as choosing kitchen, tiling and paint colours.

Engineer and Snag Lists:

You will be required by your bank and indeed it is good practice to engage an engineer to inspect your property once complete.

Your engineer will arrange an appointment to inspect the property with our site manager and compile a snag list on your behalf. These will usually be cosmetic items they would like to see addressed before you take ownership.

One the inspection is completed a list should be sent to our site manager or office no later than 2 days after inspection. Once the list is completed on site you or your engineer should carry out a final inspection of the property

Completing the Sale:

Before completing your sale make sure that the following items are arranged:

Bank Valuation:
Your bank will require a valuer to carry out a final bank valuation on the property. This must be arranged by the purchaser. Your site manager will be able to assist you with appropriate dates.

Home Insurance:
Make sure you have home insurance in place. Insurance can be put in place once your contracts are signed so don’t leave it until the last minute.

Handover of your New Home:

When all the legal paperwork has been completed, our sales department will arrange a suitable time to meet you at your new home and formally hand over your keys.

OLOS will provide a walk through of the property to help you with the initial start up of your new home. We will run through the heating system as well as providing some YouTube instruction videos via email on the operation of the system.

As your home is A rated, we will offer some advice and tips on maintaining the property going forward.

We will also conduct meter readings during handover and arrange for transfer of the electricity supply to your name.

We hope this guide has helped you at the start of your house buying journey and we look forward to seeing you in one of our developments in the near future.

Contact us with any questions

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