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Mortgage brokers in Ireland

Mortgage brokers
in Ireland

Mortgage brokers
in Ireland

Buying yourself a home is probably the biggest financial decision you’ll make, but it’s not the easiest. When you don’t want to or can’t pay the total price of your home upfront, a mortgage is at the top of your list.

Getting the best mortgage loan when hunting for a home mortgage loan takes time and effort, and wouldn’t you want an easy way to get things done right? Enter mortgage brokers.

When getting a home mortgage loan, it’s natural to want the lowest cost mortgage for the amount you want to borrow, which is what mortgage brokers are for. They use their expert mortgage market knowledge to identify the best lenders and mortgage deals available.

Home mortgage brokers are financial advisors specializing in mortgages. They help you find the right mortgage by assessing mortgage options from lenders and matching you to a mortgage loan that matches your needs.

Whether you’re a first-time buyer, home mover, or switcher, a home mortgage broker in Ireland will offer home mortgage loan recommendations based on your preferences and factors like:

Initial deposit
Monthly payment preferences
Interest rates
Repayment periods
Documentation needed
Your credit history
Any special cases and requests

With the above information, your mortgage broker has a better chance of getting you a mortgage loan offer in Ireland for which you are eligible and can get approval. And if you’re lucky, they won’t charge you a thing for all this!

Buying yourself a home is probably the best financial decision you’ll make, but it’s not the easiest. When you don’t want to or can’t pay the total price upfront, a home mortgage loan is at the top of your list.

Getting the best deal when hunting for a home mortgage in Ireland takes time and effort. Wouldn’t you want an easy way to get things done right? Enter mortgage brokers.

It is natural to want the lowest cost and convenient payment plans when getting a mortgage, which is what mortgage brokers are for. They use their expert housing market knowledge to identify the best lenders and mortgage deals available.

Home mortgage brokers are financial advisors specializing in mortgages. They help you find the right mortgage by assessing mortgage options from lenders and matching you to a mortgage loan that matches your needs.

Whether you’re a first-time buyer, home mover, or switcher, a home mortgage broker in Ireland will offer home mortgage loan recommendations based on your preferences and factors like:

Initial deposit
Monthly payment preferences
Interest rates
Repayment periods
Documentation needed
Your credit history
Any special cases and requests

With the above information, your mortgage broker has a better chance of getting you a mortgage loan offer in Ireland for which you are eligible and can get approval. And if you’re lucky, they won’t charge you a thing for all this!

Who are mortgage brokers in
Ireland?

Mortgage brokers in Ireland can be classified into tied or multi-tied and independent mortgage brokers

Tied mortgage brokers are usually affiliated with one lender or a group of lenders and can only recommend mortgage loans from them. With a tied mortgage broker in Ireland, you are limited in the variety of mortgage loan options you can get.

Independent or sometimes ‘whole of market’ mortgage brokers will offer home mortgage loan deals from lenders across the entire market. They are not limited to a single lender or a limited group of lenders. With a whole of market mortgage broker, you can choose from a much larger list of mortgage offers. This also makes them more impartial in their advice.

Mortgage brokers in Ireland, also known as “intermediaries” and “mortgage advisors”, will help you find the right mortgage loan for your needs while handling most of the paperwork to speed up the approval process.

In return for mortgage brokers streamlining the mortgage loan approval process, some may charge a fee or earn a certain percentage commission from the cost of the loan.

Who are mortgage brokers in Ireland?

Mortgage brokers in Ireland can be classified into tied or multi-tied and independent mortgage brokers

Tied mortgage brokers are usually affiliated with one lender or a group of lenders and can only recommend mortgage loans from them. With a tied mortgage broker in Ireland, you are limited in the variety of mortgage loan options you can get.

Independent or sometimes ‘whole of market’ mortgage brokers will offer home mortgage loan deals from lenders across the entire market. They are not limited to a single lender or a limited group of lenders. With a whole of market mortgage broker, you can choose from a much larger list of mortgage offers. This also makes them more impartial in their advice.

Mortgage brokers in Ireland, also known as “intermediaries” and “mortgage advisors”, will help you find the right mortgage loan for your needs while handling most of the paperwork to speed up the approval process.

In return for mortgage brokers streamlining the mortgage loan approval process, some may charge a fee or earn a certain percentage commission from the cost of the loan.

How mortgage lenders

in Ireland work

Many people in Ireland will think of getting their first mortgage through their bank. While this may sound good, you are potentially missing out on other deals from mortgage brokers. Mortgage brokers will guide the borrower through every stage of the home mortgage application process, help them organize paperwork, and ensure they close on the best deal.

Mortgage brokers usually offer better than market rates and can handle the entire process, like communicating and pushing paperwork and negotiations.

The central bank of Ireland regulates mortgage brokers and allows them to:

Advise and help borrowers with mortgage applications.

Apply on your behalf to mortgage providers.

Negotiate with lenders on the applicants’ behalf and handle requests, including providing additional information.

Secure borrowers an Approval in Principle (AIP)

 Complete the mortgage offer process with the borrower on behalf of the mortgage lender

Mortgage brokers know the home mortgage market and what lenders are looking for. This makes it easier for them to match you with the right mortgage lender. Mortgage brokers usually can handle the entire process, like communicating, packaging and liaising with banks and solicitors.

As mentioned above, tied mortgage brokers will offer you mortgage deals from select affiliated lenders. In contrast, whole of market mortgage brokers will give you access to lenders across the entire market and boost your shot at a better deal.

When you get in touch with a mortgage broker, they will discuss your needs and preferences, and then collect and verify the paperwork. Since a mortgage broker is an intermediary between you seeking the loan and the lender providing the loan, they will ensure you find a comfortable mortgage offer for both parties.

After researching the options through their lender networks, they’ll present a summary of available offers and special recommendations. If you are comfortable with an offer, the mortgage broker will help you close the deal.

Mortgage brokers like Switcheroo save you from the hassle of combing through mortgage offers and give you peace of mind from having an expert taking care of the mortgage process.

How can a mortgage

broker help you?

A mortgage broker in Ireland will not only help you find the best mortgage loan rates according to your preferences,  but they can also can make an experienced assessment of the offer and the lender and give you tips to ensure you get approved for the loan.

Your mortgage broker will research and summarize the best mortgage loan offers from lenders they know. They help take care of the paperwork by straightening out approvals, review credit reports, verifying income and expenses, and coordinate communications with the provider.

Since they know what works and what doesn’t, mortgage brokers help you steer clear of pitfalls that may ruin your chances at mortgage approval. Based on your financial situation and credit status, a mortgage broker in Ireland like Switcheroo will find a mortgage loan offer that matches your finances.

Mortgage brokers will:

Compare and recommend offers from lenders

Calculate the mortgage costs for monthly and yearly payments and find the best-fit offer

Complete, prepare and submit the documentation needed for your application

Track the progress of the mortgage application

Negotiate, answer questions, and communicate with the lender on your behalf

Sort any problems and clear delays for your approval

Mortgage brokers are your best shot at getting a great mortgage, and depending on the type of lender, you save lots of legwork and the toll of going back and forth with lenders.

How can a mortgage broker help you?

A mortgage broker in Ireland will not only help you find the best mortgage loan rates according to your preferences, but they can also can make an experienced assessment of the offer and the lender and give you tips to ensure you get approved for the loan.

Your mortgage broker will research and summarize the best mortgage loan offers from lenders they know. They help take care of the paperwork by straightening out approvals, review credit reports, verifying income and expenses, and coordinate communications with the provider.

Mortgage brokers will:

Compare and recommend offers from lenders

Calculate the mortgage costs for monthly and yearly payments and find the best-fit offer

Complete, prepare and submit the documentation needed for your application

Track the progress of the mortgage application

Negotiate, answer questions, and communicate with the lender on your behalf

Sort any problems and clear delays for your approval

Since they know what works and what doesn’t, mortgage brokers help you steer clear of pitfalls that may ruin your chances at mortgage approval. Based on your financial situation and credit status, a mortgage broker in Ireland like Switcheroo will find a mortgage loan offer that matches your finances.

Mortgage brokers are your best shot at a great mortgage, and depending on the type of lender, you save lots of legwork and the toll of going back and forth with lenders.

Should you get a mortgage broker?

The right mortgage brokers save you the time and stress involved in finding the right mortgage loan and getting approved.

Switcheroo mortgage brokers are trained, qualified professionals with extensive knowledge of their field and will help you make your buying decision.

1. Why you should get a mortgage broker?
A mortgage broker:

Gives you more mortgage loan options and offers from multiple lenders and saves you the trouble of researching independently.

Matches you with offers you are more likely to get approved.

Can set you up with exceptions to standard mortgage credit terms

Prepares and submits documentation to the different lenders and keeps everything in check to speed up the approval.

Handles the communication with lenders

Answers questions on your behalf and handles any faults or issues

Will probably save you money. Mortgage brokers have access to more lenders and can find you deals that you cannot access directly.Ultimately, you are probably more likely to get better rates with a mortgage broker.

If you are skeptical about your mortgage application, a mortgage broker will thoroughly assess your situation and advice whether the mortgage is right for you or if there could be better offers. They can find you a better offer that you meet the criteria for, and if you cannot find one, a mortgage broker will advise you on what to do to improve your chances and when to try next.

2. Caveats of going with mortgage brokers in Ireland:

If you go with a tied broker, they have fewer deals on offer with little choice or benefit.

Tied brokers don’t usually have the best rates for mortgages (Switcheroo mortgages is a whole of market broker)

Brokers may not have access to all loan programs at certain financial institutions

Some brokers can sometimes charge a flat upfront fee that can be pretty steep

You Should Consider getting a mortgage broker if:

You want more mortgage loan options than those already advertised to you.

You don’t have great credit or have a unique borrowing situation

None of the available loan options work for you.

You need an expert opinion on your deals and don’t have the time or know-how to analyze the options.

Should you get a mortgage broker?

The right mortgage brokers save you the time and stress involved in finding the right mortgage loan and getting approved.

Switcheroo mortgage brokers are trained, qualified professionals with extensive knowledge of their field and will help you make your buying decision.

1. Why you should get a mortgage broker?
A mortgage broker:

Gives you more mortgage loan options and offers from multiple lenders and saves you the trouble of researching independently.

Matches you with offers you are more likely to get approved.

Can set you up with exceptions to standard mortgage credit terms

Prepares and submits documentation to the different lenders and keeps everything in check to speed up the approval.

Handles the communication with lenders

Answers questions on your behalf and handles any faults or issues

Will probably save you money. Mortgage brokers have access to more lenders and can find you deals that you cannot access directly. Ultimately, you are probably more likely to get better rates with a mortgage broker.

If you are skeptical about your mortgage application, a mortgage broker will thoroughly assess your situation and advice whether the mortgage is right for you or if there could be better offers. They can find you a better offer that you meet the criteria for, and if you cannot find one, a mortgage broker will advise you on what to do to improve your chances and when to try next.

2. Caveats of going with mortgage brokers in Ireland:

If you go with a tied broker, they have fewer deals on offer with little choice or benefit.

Tied brokers don’t usually have the best rates for mortgages (Switcheroo mortgages is a whole of market broker)

Brokers may not have access to all loan programs at certain financial institutions

Some brokers can sometimes charge a flat upfront fee that can be pretty steep

You Should Consider getting a mortgage broker if:

You want more mortgage loan options than those already advertised to you.

You don’t have great credit or have a unique borrowing situation

None of the available loan options work for you.

You need an expert opinion on your deals and don’t have the time or know-how to analyze the options.

Mortgage Brokers in Ireland Tips

1

 

When dealing with mortgage brokers in Ireland, ask for transparent pricing upfront. Ensure you know any fees, payment options, and the payment structure before getting started on the applications.

2

 

Check to make sure they provide Whole of Market advice and support

3

 

Check the Financial Services register for details and ensure your broker is authorized by the Central Bank of Ireland.

4

 

Ask as many questions as possible and only take straightforward answers.

5

 

A good mortgage broker in Ireland will put you on the best deal and recommend switching to better deals when they come up. Ask about their after-closing services.

6

 

The broker should have a dedicated phone number, website, portal and offer options for video calls and flexible hours. Seamless communication is a must-have.

Ireland mortgage broker fees

Mortgage brokers in Ireland often charge a fee to advise or help with your mortgage application. The fee may be based on a percentage of the mortgage amount or charged at a flat rate.

Fees of around €100- €500 are not unusual. Some online mortgage brokers in Ireland, like Switcheroo are free because they get a commission from the lender and don’t have to pass on charges to the borrower. The commission from lenders is typically around 1% of the mortgage value.

You should shop around and compare the broker fees and their performance. Even with broker fees, you still save a lot, considering they can access cheaper mortgage deals.

Interested in buying your dream
home and considering a
mortgage? We’d love to help.

Getting the right broker can make a huge difference; we’re your best-case scenario. Switcheroo offers a free, Whole of Market, comprehensive mortgage broker service that’s high tech and high touch.

Ireland mortgage broker fees

Mortgage brokers in Ireland often charge a fee to advise or help with your mortgage application. The fee may be based on a percentage of the mortgage amount or charged at a flat rate.

Fees of around €100- €500 are not unusual. Some online mortgage brokers in Ireland, like Switcheroo are free because they get a commission from the lender and don’t have to pass on charges to the borrower. The commission from lenders is typically around 1% of the mortgage value.

You should shop around and compare the broker fees and their performance. Even with broker fees, you still save a lot, considering they can access cheaper mortgage deals.

Interested in buying your dream home and considering a mortgage? We’d love to help.

Getting the right broker can make a huge difference; we’re your best-case scenario. Switcheroo offers a free, Whole of Market, comprehensive mortgage broker service that’s high tech and high touch.

HAVE QUESTIONS

Read our FAQ

You're called Switcheroo.ie but do you help First Time Buyers and Home movers?

Yes, we absolutely do. As long as you are looking to buy a residential property we stand ready to help. We like the name Switcheroo as you are switching home if you are a mover and even if you are a buyer you are switching from tenant to homeowner!!!

What’s the best mortgage I can get?

That’s a question we hear a lot but there is no simple answer to this. There are a number of factors to this which both you and we need to consider when you are thinking of getting a mortgage.
Mortgages come with different terms and banks use different criteria to establish who they lend to, how much and at what rate. Don’t stress too much! You can find out pretty quickly to see if it’s worth your while. From there we will guide you through the process and make sure you get the right mortgage for you and make the process as simple as possible.

If I am a switcher how much can I save?

The Central Bank of Ireland published research that showed that many existing mortgage holders can save over €10,000 euros by switching their mortgage. It will depend on your specific circumstances but just 20 seconds on our calculator will show you what its worth for you to switcheroo.

What documents will you need from me?

Initially, none. The first step is for you to take our Financial Health Check in your secure customer portal. This will help us understand your circumstances and see if you are mortgage fit but we don’t need documentation at that stage. Only later when we move on to preparing your submission to a lender, will we need to make sure that your information is accurate, and we’ll need documentation from you then. Those include proof of your identity, income, utility bills with proof of address, as well as things like visa status where it applies. We’ll always make it clear exactly what we need and why.

Do you perform credit checks?

Our job is to make sure that you have the best possible chance of being accepted. So, we perform our own affordability check before sending anything to a lender. This leaves no footprint on your credit history.

I want to switcheroo, what’s next?

On our website there are calculators that will help you figure out what you can save or what your mortgage would cost. From there you’ll need to register into your customer portal so we can perform a Financial Health Check on you to assess what you can afford.

If all is well, we will then ask for more details on your current circumstances and the specifics of the house you want to mortgage.

Usually, this shouldn’t take more than 60 minutes, and you’ll be one step closer to a mortgage. At this point, you can have a phone call with one of our mortgage experts. They will answer any questions you have and tell you exactly what documents you’re going to need. From there, the expert team will guide you through the application process and keep you updated on progress. You can check progress online and we will keep you updated along the way.

What does Switcheroo.ie do with my data?

It’s all explained in our privacy policy, but basically: we won’t spam you and we won’t pass on your data to other companies so that they can spam you. We hate that.

How does Switcheroo.ie make money?

Yep, we don’t charge any commission. If you get a mortgage using Switcheroo.ie, the lender you use pays us a commission. Some intermediaries charge you an additional commission but not us, we are free forever. These commission never affect our advice. Our reputation and livelihood depend on us always giving our customers the best possible advice. The important bit is we’ll never charge you a penny.

HAVE QUESTIONS

Read our FAQ

You're called Switcheroo.ie but do you help First Time Buyers and Home movers?

Yes, we absolutely do. As long as you are looking to buy a residential property we stand ready to help. We like the name Switcheroo as you are switching home if you are a mover and even if you are a buyer you are switching from tenant to homeowner!!!

What’s the best mortgage I can get?

That’s a question we hear a lot but there is no simple answer to this. There are a number of factors to this which both you and we need to consider when you are thinking of getting a mortgage.
Mortgages come with different terms and banks use different criteria to establish who they lend to, how much and at what rate. Don’t stress too much! You can find out pretty quickly to see if it’s worth your while. From there we will guide you through the process and make sure you get the right mortgage for you and make the process as simple as possible.

If I am a switcher how much can I save?

The Central Bank of Ireland published research that showed that many existing mortgage holders can save over €10,000 euros by switching their mortgage. It will depend on your specific circumstances but just 20 seconds on our calculator will show you what its worth for you to switcheroo.

What documents will you need from me?

Initially, none. The first step is for you to take our Financial Health Check in your secure customer portal. This will help us understand your circumstances and see if you are mortgage fit but we don’t need documentation at that stage. Only later when we move on to preparing your submission to a lender, will we need to make sure that your information is accurate, and we’ll need documentation from you then. Those include proof of your identity, income, utility bills with proof of address, as well as things like visa status where it applies. We’ll always make it clear exactly what we need and why.

Do you perform credit checks?

Our job is to make sure that you have the best possible chance of being accepted. So, we perform our own affordability check before sending anything to a lender. This leaves no footprint on your credit history.

I want to switcheroo, what’s next?

On our website there are calculators that will help you figure out what you can save or what your mortgage would cost. From there you’ll need to register into your customer portal so we can perform a Financial Health Check on you to assess what you can afford.

If all is well, we will then ask for more details on your current circumstances and the specifics of the house you want to mortgage.

Usually, this shouldn’t take more than 60 minutes, and you’ll be one step closer to a mortgage. At this point, you can have a phone call with one of our mortgage experts. They will answer any questions you have and tell you exactly what documents you’re going to need. From there, the expert team will guide you through the application process and keep you updated on progress. You can check progress online and we will keep you updated along the way.

What does Switcheroo.ie do with my data?

It’s all explained in our privacy policy, but basically: we won’t spam you and we won’t pass on your data to other companies so that they can spam you. We hate that.

How does Switcheroo.ie make money?

Yep, we don’t charge any commission. If you get a mortgage using Switcheroo.ie, the lender you use pays us a commission. Some intermediaries charge you an additional commission but not us, we are free forever. These commission never affect our advice. Our reputation and livelihood depend on us always giving our customers the best possible advice. The important bit is we’ll never charge you a penny.

THE SWITCHEROO.IE DIGITAL MORTGAGE PLATFORM

We focus on great customer experience to
support you through your application

Don’t take our word for it, read what our customers think of us

THE SWITCHEROO.IE DIGITAL MORTGAGE PLATFORM

We focus on great customer experience to
support you through your application

Don’t take our word for it, read what our customers think of us

THE SWITCHEROO.IE DIGITAL MORTGAGE PLATFORM

We focus on great customer experience to support you through your application

Don’t take our word for it, read what our customers think of us

Call to talk

With a Mortgage Expert

Call to talk

With a Mortgage Expert

Call to talk

With a Mortgage
Expert

Good news for First Time Buyers! Switcheroo Mortgages is now accepting mortgage applications for 4 times income.

Under the new central bank guidelines, first time buyers will be able to borrow up to 4 times their income from January onwards, but Switcheroo Mortgages is accepting applications from now.