The process of applying for a mortgage can often be very daunting and filled with uncertainty, but not if you get the right mortgage adviser. Find out what to look for with our mortgage adviser ultimate guide.
In this article, we aim to outline what a mortgage adviser is, why you should consider going to one, and how to find the best one for you.
- What is a Mortgage Adviser ?
- Why should I go to a Mortgage Adviser ?
- How do I find the right Mortgage Adviser for me?
- Summary Mortgage Adviser Ultimate Guide
Top Mortgage broker comparison
| Broker | Free | Google Rating | All Lenders | Partner Solicitor | One on One Service | Recommended by BestinIreland.com |
|---|---|---|---|---|---|---|
| moneysherpa | ✓ | 4.9 | ✓ | ✓ | ✓ | ✓ |
| Irish Mortgage Corporation | ✓ | 4.9 | ✓ | ✗ | ✓ | ✓ |
| Doddl | ✓ | 4.8 | ✓ | ✓ | ✗ | ✗ |
| mortgages.ie | ✓ | 4.6 | ✗ | ✗ | ✗ | ✗ |
| Switcheroo | ✓ | 4.8 | ✓ | ✗ | ✓ | ✗ |
| Local Brokers | €100-€500 | ✗ | 3-5 | ✗ | ✓ | ✗ |
Updated 10/03/2024
What is a Mortgage Adviser? Ultimate Guide
A mortgage advisor is a qualified professional who aims to find the best mortgage deal for you given your personal circumstances.
With over 250 mortgage products offered by 9 different lenders in Ireland, it’s no wonder so many struggle to find the best mortgage for them, and end up going with a mortgage that could lose them thousands in the long run.
A mortgage adviser will help you work out how much you can afford to borrow and use their knowledge of the market to find the best deal available.
When looking for the best deal out there, a good mortgage adviser will;
- Talk with you to figure out what you can afford to borrow given your financial situation
- Search the market for the best deals available
- Compare deals offered by lenders
- Tell you about different deals to help you find one that best suits you
Why should I go to a Mortgage Adviser? Ultimate Guide
There are many benefits to seeing a mortgage adviser, as a good mortgage adviser will;
- Look at your financial circumstances to find a deal that best suits you
- Use their knowledge of lenders to find ones that are right for you
- Access exclusive deals not available directly
- Help you with the paperwork that comes with applying for a mortgage
- Help you find a deal that you are likely to get
A mortgage advisor can help lift the burden that comes with applying for a mortgage.
By using their connections and knowledge of the market, mortgage advisers can help find a deal that is affordable and right for you.
Finding a deal yourself can be a long and difficult process. Mortgage advisers are there to save you time and effort, and may even be able to find you a deal you can’t on your own.
How do I find the right Mortgage Adviser for me? Ultimate Guide
There are many factors you should take into consideration when looking for a mortgage adviser, such as;
Type of mortgage adviser
Mortgage advisers can either act independent or work on behalf of a lender. It’s important to know if you’re mortgage advisers is working for a financial institution, as this can impact their advice.
It’s also important to see how many lenders your mortgage adviser works with, as mortgage advisers who only work with a certain amount of lenders can only offer you a limited amount of deals.
An independent mortgage adviser will show you deals from many different lenders as they are not tied to only one, meaning you can choose from a wider range of lenders and deals.
Fees
Some mortgage advisers will not charge their clients, as they’re paid a commission based on the value of their clients mortgage once it has gone through.
Yet some mortgage advisers may charge their clients a flat fee of €100-€150. Other advisers may charge their clients a commission based on a percentage of their mortgage. This can be a problem if you are looking to take out a large mortgage.
Always ask mortgage advisers about their fees before deciding who to go with.
Qualifications
It’s important to find out what qualifications your potential mortgage adviser has. Before going with a certain advisor, check that they;
- Are a Qualified Financial Adviser (QFA)
- Are an Accredited Product Adviser (APA)
- Are registered with the Central Bank of Ireland
It’s vital that the advisor you go to has the right qualifications to give you accurate financial advice when it comes to your mortgage.
Find out more on how the Central Bank regulates mortgage advisers here.
Summary – Mortgage Adviser , Ultimate Guide
In short, mortgage advisors are professional financial advisers who are there to act in your best interests and find the best mortgage for you.
Mortgage advisers help ease the stress of applying for a mortgage by figuring out what you can afford to lend, getting and comparing deals from lenders and finding the best one for you.
Next Steps – Mortgage Adviser , Ultimate Guide
| Broker | Free | Google Rating | All Lenders | Partner Solicitor | One on One Service | Recommended by BestinIreland.com |
|---|---|---|---|---|---|---|
| moneysherpa | ✓ | 4.9 | ✓ | ✓ | ✓ | ✓ |
| Irish Mortgage Corporation | ✓ | 4.9 | ✓ | ✗ | ✓ | ✓ |
| Doddl | ✓ | 4.8 | ✓ | ✓ | ✗ | ✗ |
| mortgages.ie | ✓ | 4.6 | ✗ | ✗ | ✗ | ✗ |
| Switcheroo | ✓ | 4.8 | ✓ | ✗ | ✓ | ✗ |
| Local Brokers | €100-€500 | ✗ | 3-5 | ✗ | ✓ | ✗ |
Updated 10/03/2024
We at moneysherpa have qualified financial advisors on hand to help you find the best mortgage deal for you. If choose moneysherpa as your mortgage adviser, you will;
- Get our expert opinion free of charge
- Have a wide range of options from a wide range of lenders, as we act independent from financial institutions
- Have your paperwork dealt with digitally in one of our free online calls
- Get comprehensive advice on all your options to find the best deal to suit your personal circumstances
- Get our lifetime best rate guarantee, meaning our sherpas will always check the market to switch if we find a better deal for you
- Have all your questions or queries answered by our team of professional mortgage advisers
Start your application online with moneysherpa here.
You can book a free, no obligation video chat with the mortgage sherpa team here.
Read more about the mortgage sherpa team here.
