Purchasing a home can be one of the most exhilarating and simultaneously one of the most stressful milestones in your life. The journey is full of exciting moments like finding a for sale sign has gone up in the perfect location to see the vision of your dream home come to life before your eyes. However, rose-tinted glasses can quickly come off due to the veritable mountain of red tape that can form around you if you aren’t properly prepared for the mortgage process, especially for first-time buyers. That is where a mortgage broker comes in to save you money, time and from the stress of the mortgage application process.
Why you should choose a Dublin based mortgage broker to help you snag your dream home
Using a mortgage broker, more specifically a mortgage broker based in your locality, to help you navigate the Irish mortgage process has many advantages that will help you secure the best mortgage possible, some of the benefits of using a mortgage broker include:
Having Access to a Wide Range of Lenders
Trying to get a mortgage through a singular financial institution can be a challenge as they will try to get the best mortgage for them not you, whereas a mortgage broker works with multiple mortgage providers such as banks like AIB and Bank of Ireland, Credit Unions and third party financial institutions and therefore can compare the mortgage offers from multiple organizations in order to find you the best possible mortgage rates and terms for your current financial position.
A Wealth of Expertise and Experience
Our mortgage brokers have an in depth understanding of the current mortgage market which includes whether a fixed or variable rate would be better at the moment and the current trends with regards to both the property market and mortgage process. Our mortgage brokers will guide you through the application process in order to help you make the best financial decisions regarding your mortgage.
Handling the stress so you don’t have to
Our mortgage brokers will do the tiring legwork for you so that you can focus on other pursuits, they will handle the paperwork and ensure that your application is free from hidden charges and mistakes, our brokers will liaise with mortgage lenders and keep track of all communications in a neat and orderly fashion to ease any problems that may arise down the line. All of these factors help to contribute to a mortgage application process where you won’t have to go back and forth with multiple lenders a day trying to get the best deal.
Better rates and terms
Through their past experience and work with each lender in the market, our mortgage brokers may be able to get you exclusive deals or better rates through their honed negotiation skills that you may not be able to get when handling the mortgage process on your own. We can also provide you with a better mortgage rate and terms as we provide a large volume of business for lenders and in return, they are happy to provide us with better terms for our customers. We can also try to get mortgage lenders to waive certain fees such as origination fees, application fees, and appraisal fees which can save you, the mortgage seeker, hundreds or even thousands of euros.
Tailoring the process to work for you
Our mortgage brokers will personally go through your current finances in detail in order to ensure that they have a complete and comprehensive understanding of your financial position and what mortgage options would be best for you. Whether you’re a first-time buyer, investing in property, refinancing, or have unique circumstances our mortgage advisors will account for everything that they know about your current situation and do their best to find the mortgage that works for you. Our mortgage advisors will also account for any complex situations that may have caused you to worry about your mortgage eligibility such as you being self-employed, having low credit, or recently having gone through bankruptcy as they have experience dealing with all kinds of circumstances and will be able to find you the lender that is willing to work with your situation.
Streamlined Process
Our mortgage brokers have completed many mortgage applications and therefore know the Irish mortgage process inside and out which will help to speed up the process whilst also simplifying it for you as they will handle all the documentation and applications that are needed to complete the mortgage process. We can also use our established relationships with lenders to help streamline your mortgage application process so that you can get to your dream home sooner.
Broker Objectivity
Since mortgage brokers are not tied to any one financial institution, we can offer you unbiased opinions about how the different organisations in the sector behave and treat their customers whilst also providing honest opinions about your mortgage prospects. Mortgage brokers will also try to steer you away from any lenders that may have onerous payment terms that you might only discover later. Here at MyMortgages, we do not charge a fee as we are remunerated from the lender, not the mortgage applicant so we are strictly trying to get you the best mortgage offer we can.
Conclusion
Overall, having a mortgage broker to help guide you through the process is a valuable resource as they help you navigate the often-complicated Irish mortgage process to ensure it is as stress-free as possible to save you both time and money. At MyMortgages we don’t receive payment until you do as we get remuneration from the lender so even if you are unable to get the mortgage you were looking for it will cost you nothing and we would be more than willing to try and rework your application in order to allow you to achieve your house hunting dream with a mortgage that works for you.
