With an experienced broker working on your behalf, you protect yourself against potentially losing thousands over the term of the mortgage. It is our role at Pangea Mortgages to find the best and most suitable mortgage for you, and from the beginning we’re working for you, and not for any one bank or lender. We act in your best interest at all times !
Pangea Mortgages also understands it is not easy to navigate your way through all the choices available. And by researching the market for you, we can narrow down the options to make it easier to understand what suits you best. We will spell out in clear English what the various different Bank offers mean and what they will cost you. Whether you are a first time buyer, a switcher or a buy to let investor our team have the experience and expertise to guide you through the entire process – end to end.
Working to your schedule
Throughout the application, this may well be the one advantage you will appreciate the most. Our experienced brokers will work around your schedule, have appointments outside of working hours and will be available on call should you have queries at any stage. Unlike the traditional banking model, we can offer you the flexible service that modern life demands. Our digital platform will allow you to upload all the information and docs needed, from any device 24/7.
And because you are not tied to one lender, if rates and conditions change, we can provide you with many options that suit you. Some lenders only work with a mortgage broker, meaning you can not access their products yourself. Some of the best offers over the last 2 years have been with such lenders – Finance Ireland and Avant. A mortgage broker Ireland can provide you a list of broker only and direct to consumer options. All lenders that we work with at Pangea Mortgages are regulated by the Central Bank.
End to End Process
Our mortgage broker Ireland team can help you with more than just the mortgage. We know that the process can be very daunting with so many different stakeholders, from Estate Agents to surveyors to solicitors its hard to know who to turn to with questions and who is really acting in your interests. Remember the Estate Agent acts for the seller – not the buyer. So you need to be very careful with any information you receive from them. With our qualifications we are uniquely placed to provide you information on the housing market, interest rates and if now is a good time to buy. A Pangea mortgage broker does so much more than just the mortgage.
The legal process can also be very difficult to understand and its very difficult to tell a good solicitor from a bad one – especially if you are a first time buyer. We have a panel of solicitors we work with that will be able to guide you through the legals.
When you choose Pangea Mortgages, you will get access to highly skilled and qualified mortgage specialists with years of expertise in their field. With trusted professionals who understand the mortgage business comprehensively, your application will be in expert hands.
How much does a broker charge ?
How long is a piece of s……
For the vast majority of people there will be no charge for our service. Fees may arise in more complicated or time consuming applications. For example – if you are self employed with multiple businesses and a property empire – than this is going to be a mountain of paper work and accountant documentation needed. This can be 3-4x times the workload of a standard transaction – therefore a fee for this may apply.
Self Build Mortgage
Also for a self build application there are many more documents and the timeframe is much longer. The customer will most likely drawdown the mortgage in stages which is a significant amount of manual work for the broker. This is why a mortgage broker charge may apply.
Any broker charge must be considered against 1) the work they have to do and 2) the service they provide.
When you look at the work load that goes into a mortgage application from a broker it is typically 10-20 hours per case. There is an initial call or meeting to asses the customers needs and if they qualify for a mortgage. Then you must gather all the required documents from the customer. Next the mortgage broker needs to complete the very lengthy Bank application and compliance forms – this can be very time consuming. After the application is in there may also be some questions from the Bank while they are assessing the case and the mortgage broker will need to reply quickly to these.
After Mortgage Loan Offer :
Once the Bank issue the loan offer the mortgage broker is still not finished, they will have to co-ordinate the valuer, the insurances and the solicitors! It typically takes about 16 weeks from applictaion for a mortgage to competition – that’s 4 months work. Some brokers charge say €200 – that’s very little for a customer for 4 months of work!
The second point to remember in relation to a mortgage broker charge is what service you as the customer are receiving. Pangea Mortgages have dealt with hundreds of customers – be they first time buyers, switchers or buy to let investors. We know what the Banks are looking for and how to get you the best deal for your circumstances. Mortgage brokers also have access to lenders that customer can not deal directly with themselves. Some lenders don’t have branches so you can’t walk in and apply. The brokers need to be appointed to these lenders directly. Again, this is a costly and timely process.
We can advise on issues with bad credit, divorce/separation or any other complicated matters. You are getting years of experience as part of the service.
All brokers need to be regulated by the Central Bank of Ireland and must comply with annual regulatory requirements. They must also pay a fee to the Central Bank. As the customer you benefit from this extremely high level of regulation as you know all procedures are carefully examined and audited by the Central Bank of Ireland. But there are costs to running a business and providing excellent service – so this is why a mortgage broker charge may apply to your application.