Is it better to use a mortgage broker or go to the bank in Ireland? In most cases, using a CBI-regulated mortgage broker is better for Irish borrowers than going direct to one bank. A broker compares all lenders, AIB, Bank of Ireland, PTSB, ICS Mortgages, Haven, Avant Money, Finance Ireland and others, in a single application process, giving you access to the full market including lenders who do not operate branches. A broker’s advice is typically free to the borrower, the broker is paid a commission by the lender on completion. A bank can only offer its own products. Joe Coyle Financial Consultants is a CBI-regulated mortgage broker serving clients across Ireland from Donegal, with access to all major Irish mortgage lenders.
Joe Coyle Financial Consultants, a CBI-regulated mortgage broker in Donegal and part of the Money Maximising Advisors group, provides independent mortgage comparison advice Ireland, comparing all Irish lenders for first-time buyers, movers and switchers nationwide, at no direct cost. Further guidance at Money Sense Financial Services.
Most Irish people visit their bank first when they need a mortgage. It is a natural instinct, you already have a current account there, you know the brand, and the process feels familiar. But here is the critical thing to understand: your bank can only offer you its own products. A mortgage broker compares every lender in the market and finds the best deal for your specific circumstances. This guide explains exactly how a mortgage broker works in Ireland, why it costs you nothing to use one, and when it makes sense to go direct versus through a broker.
How an Irish Mortgage Broker Works
A mortgage broker in Ireland is a CBI-regulated financial intermediary who acts on your behalf rather than on behalf of any one lender. Here is the process:
Step 1: You provide your financial details, income, deposit, property value, employment status, credit history, to the broker
Step 2: The broker assesses which lenders you are eligible for and identifies the most competitive rates across the full market
Step 3: The broker submits your application to the selected lender or lenders simultaneously, saving you the time of multiple individual applications
Step 4: On mortgage approval and drawdown, the lender pays the broker a commission, typically 1% of the mortgage amount, paid by the lender, not by you
Step 5: The broker supports you through the mortgage approval process, liaising with the lender, solicitor and estate agent on your behalf
Joe Coyle Financial Consultants has relationships with all major Irish mortgage lenders, including AIB, Bank of Ireland, Permanent TSB, ICS Mortgages, Haven Mortgages, Avant Money and Finance Ireland. We are fully regulated by the Central Bank of Ireland (C54725) and our mortgage advice is provided at no direct cost to the borrower.
► Compare All Irish Mortgage Lenders, Book a Free Mortgage Consultation
What Lenders Does a Mortgage Broker Have Access to in Ireland?
Joe Coyle Financial Consultants compares mortgage products from all major Irish lenders. Several of these lenders are only accessible through brokers, they have no branch network and do not accept direct applications from the public:
AIB: Ireland’s largest mortgage lender. Direct application also available.
Bank of Ireland: Major retail lender. Direct application also available.
Permanent TSB: Retail lender with competitive green mortgage rates.
ICS Mortgages: Broker-only lender, no branches, accessible only through a broker like JCFC
Haven Mortgages: EBS subsidiary, competitive rates, broker-accessible
Avant Money: Spanish-backed lender, among the most competitive fixed rates in Ireland, broker-accessible
Finance Ireland: Specialist lender for self-employed and complex income structures, broker-accessible
💡 Broker-only lenders like ICS Mortgages, Avant Money and Finance Ireland often offer the most competitive rates in the market, but you cannot access them without a broker. By going direct to your bank, you are automatically excluded from these options.
How Much Does a Mortgage Broker Cost in Ireland?
In almost all cases, a mortgage broker costs you nothing directly. Here is how brokers are paid in Ireland:
Commission from the lender: When your mortgage completes, the lender pays the broker a commission, typically 1% of the mortgage amount. For a EUR 300,000 mortgage, this is EUR 3,000, paid by the lender as part of their cost of business
Commission does not increase your rate: The mortgage rate offered to you through a broker is the same as, or in many cases lower than, what you would receive by going direct. The commission is built into the lender’s business model regardless of how the mortgage is arranged
Written disclosure: Your broker must disclose the commission they receive in writing before making any recommendation, this is a legal requirement under the CBI’s Consumer Protection Code
When fees might apply: Some brokers charge a consultation fee for complex cases, typically EUR 150 to EUR 500. Joe Coyle Financial Consultants does not charge a direct consultation fee for standard mortgage advice
Can a Broker Get You a Better Rate Than the Bank?
Often yes, for several reasons. First, brokers have access to lenders who are not available direct to the public, some of whom offer the most competitive rates in the market. Second, brokers negotiate volume terms with lenders and are aware of rate promotions and cashback offers that may not be widely advertised. Third, brokers understand which lender is most likely to approve your specific income profile, employment status and property type, avoiding the time and credit impact of rejected applications.
A difference of 0.3% on a EUR 300,000 mortgage over 30 years is approximately EUR 900 per year, EUR 27,000 over the life of the mortgage. Even a 0.1% rate difference translates to EUR 9,000 in interest over 30 years. The financial case for using a broker to find the best available rate is compelling.
Is It Worth Switching Your Mortgage in Ireland?
For many Irish homeowners, switching mortgage lender is one of the highest-return financial decisions available. The typical annual saving on a EUR 300,000 mortgage switcher is EUR 1,000 to EUR 3,000 per year, depending on the rate difference.
Irish mortgage switchers also frequently qualify for cashback offers of EUR 2,000 to EUR 3,000 from new lenders, which can be used to offset legal fees associated with the switch (typically EUR 1,200 to EUR 1,500). Joe Coyle Financial Consultants analyses every client’s existing mortgage rate against the current market to identify switching savings and manages the full switch process at no direct cost.
⚠️ Important: Your existing lender will not contact you to tell you that a better rate is available elsewhere. The onus is on you to review your mortgage periodically, or to engage a broker like Joe Coyle Financial Consultants to do this on your behalf. Many Irish homeowners are paying rates 0.5% or more above the best available deals without knowing it.
► Switch Your Mortgage and Save, Book a Free Mortgage Review
Frequently Asked Questions: Mortgage Broker Ireland
Is it better to use a mortgage broker or go to the bank in Ireland?
In most cases, using a mortgage broker is better. A broker compares all Irish lenders, including broker-only lenders like ICS, Avant Money and Finance Ireland, in one process, at no direct cost to you. A bank can only offer its own products.
How much does a mortgage broker cost in Ireland?
Nothing directly to you in most cases. The broker is paid commission by the lender when your mortgage completes. This commission does not increase your rate, it is built into the lender’s business model. Joe Coyle Financial Consultants does not charge a direct fee for standard mortgage advice.
Can a mortgage broker get better rates than the bank in Ireland?
Often yes. Brokers access broker-only lenders with competitive rates not available direct to the public. They also have visibility of the full market, rate promotions and cashback offers. Even a 0.1% rate difference on EUR 300,000 over 30 years saves EUR 9,000 in interest.
Is it worth switching your mortgage in Ireland?
Almost certainly yes if you are on a variable rate or an expired fixed rate. The typical Irish mortgage switcher saves EUR 1,000 to EUR 3,000 per year. Cashback offers from new lenders can offset switching legal costs. Joe Coyle Financial Consultants analyses your existing rate against the full market at no charge.
Do mortgage brokers work with all lenders in Ireland?
Joe Coyle Financial Consultants has access to all major Irish mortgage lenders including AIB, Bank of Ireland, PTSB, ICS Mortgages, Haven, Avant Money and Finance Ireland. Several of these lenders are accessible only through brokers.
► Compare All Irish Mortgage Lenders, Book a Free Consultation with JCFC
Important Information
This article is for general information only and does not constitute financial advice. Mortgage broker commission, rate comparison and switching information is correct at the date of publication. Joe Coyle Financial Consultants Ltd is regulated by the Central Bank of Ireland (C54725), part of Money Maximising Advisors (C154250). Always seek personalised advice from a Qualified Financial Advisor before making financial decisions.
Joe Coyle Financial Consultants Ltd | jcfc.ie | info@jcfc.ie | +353 091 342596
Part of Money Maximising Advisors Group | mmadvisors.ie | moneysense.ie
