Irish Mortgage Corporation has announced an agreement to provide Ryanair staff with access to low-cost mortgages.
Under the terms of the agreement, all Irish-based Ryanair employees will have access to a discount on their mortgage as well as in-house mortgage services and additional benefits.
Irish Mortgage Corporation is the nation’s leading independent mortgage broker. Founded in 1990, it currently represents 19 different lenders and building societies. A total of over 300 mortgage options are on offer from the company. This far exceeds products offered from a single bank or building society where the average number of mortgages on offer is less than 30. Irish Mortgage Corporation is projected to arrange in excess of €1.3 billion in mortgages during 2006.
As part of the agreement, Irish Mortgage Corporation will also provide mortgage clinics for Ryanair staff. Clinics are designed to cater to all main sections of the mortgage market, including first time buyers, existing homeowners and investors.
“More consumers than ever are demanding better value for money on their mortgage. With over 300 different mortgages now available on the Irish market, consumers who have the time to shop around for value on their mortgage can save significantly” said Derek Maguire, Managing Director of Irish Mortgage Corporation. “Through mortgage clinics, Ryanair employees will now access all mortgages available to them in the Irish market. In addition to mortgage clinics, the mortgage affinity scheme also offers Ryanair employees a mortgage discount, which is not available to the general market.
“By eliminating expensive marketing costs via this scheme, we are able to return significant value to borrowers by way of a mortgage discount and other incentives. However, what is really important is that this scheme continues to offer real choice to all Ryanair employees, they have total access to all mortgage products, which is something that no single bank can offer. “ Said Mr. Maguire.
The agreement is on a 12-month basis subject to review.