Published on November 26th, 2020 |
by Raychel O’Connell
Every day thousands of buyers visit Daft to search for their new home. We regularly gather feedback from our users about their experience and we discovered that 55% of first time buyers at the early stages of their buying journey don’t know their buying budget yet. This can make searching for the right home for them much more difficult.
The new Buying Budget calculator was specifically designed to help these buyers. It gives a good indication of their Buying Budget and mortgage they will likely qualify for, taking into account a range of factors; such as how much the Government’s Help to Buy grant might be worth to them, and whether they will likely qualify to borrow more than 3.5 times their income. We want to help buyers until the time they are ready to talk to a mortgage advisor. Their Buying Budget is saved, and the next step is to arrange a call back with one of our mortgage partners. We have partnered with a bank, Permanent TSB, and two mortgage brokers, MortgageLine and Lending Hand, to offer choice.
This new calculator on Daft.ie was built afresh over several months based on feedback from an earlier version that was used by over 30,000 buyers. Of course, we’ll continue to gather feedback and improve our new one too.
Paul Monahan of Daft Mortgages, said; “At Daft our mission is to empower people with information so they can make smart property purchases. Establishing a budget and getting a mortgage are difficult parts of the buying journey. Daft Mortgages are going to make this easier, starting with the Buying Budget calculator so our users can be more informed and one step closer to their perfect home”.
This service is provided by Distilled Financial Services Ltd which is trading as Daft Mortgages. This is a sister company of Daft.ie and regulated by the Central Bank of Ireland. We took this big step so we could provide this Buying Budget feature to our users and be in a position to introduce them to mortgage providers they choose.