Source: Irish Mortgage Corporation 

Irish Mortgage Corporation, Ireland’s biggest independent mortgage broker, has launched a new service allowing homeowners to shop for the best value on their mortgage online.

The service offers access to the full product range offered by each of the banks and building societies currently operating in the Irish market. 

“This is an exciting new service which will benefit everyone looking for a mortgage,” said Mr. Frank Conway Director with Irish Mortgage Corporation. “With over 300 different types of mortgages now on offer to consumers, finding and comparing the best rates & terms has become more important than ever. This new service offers homeowners and first time buyers access to all rates on offer, following which they can and make their application online.”

First time buyers will be particularly assisted by the service claimed Conway. For many, starting out on the road to their first purchase requires getting to know the various aspects of the property and mortgage market. With this new service, first time buyers can easily and quickly access all mortgage rates.

Existing homeowners will equally benefit from the new service. “There is a great awareness of the value of switching or refinancing an existing mortgage to a better rate. Existing homeowners are advised to shop around and get sound, independent advice before they do so. Homeowners should always do their homework before they switch and ensure the rate they are being offered will provide long-term savings. Irish Mortgage Corporation advises homeowners to review all of their borrowings at least once a year to ensure they are availing of the best value”.

“The Irish mortgage market continues to evolve and is becoming increasingly competitive with more streamlined products being made available. While many banks may offer aggressively priced discounted offers to consumers, it is also important for consumers to look at both the long-term cost of a product and other terms and conditions of a product that may impact on the overall value of a particular product.

“”What many homeowners may not know is that they can refinance an existing mortgage to a better rate”. said Mr. Conway. Ireland is thought to have some of the lowest loan-to-value ratios in the world making it perfect for many people to consider refinancing.  “Any homeowner in a property for more than a few years can qualify to review the current loan-to-value on their property” added Mr. Conway. Additionally, homeowners can also avail of a split-mortgage option if they wish to consolidate high-rate debts such as credit cards, car loan, and personal loans to a lower rate loan.

The new mortgage comparison service is available at www.irishmortgage.ie.