Most mortgage borrowers don’t want to save €10,000

It’s bizarre but true. A recent study by the Central Bank showed that the majority of borrowers stood to really gain in payment savings and interest payments by switching their mortgage and yet only a tiny fraction actaully do it.

Who do you know that would walk by a free €10,000? Nobody right? Yet you do, it may even be you, because if you pay a bank thousands more than you ought to because you aren’t willing to take the time to do some paperwork and switch your loan that’s precisely what happens!

Here are the main findings (verbatim) from the Central Bank:

Three in every five eligible mortgages stand to save over €1,000 within the first year if they switch mortgage provider, and more than €10,000 over the remaining term. Just 2.9% of mortgages switched provider in the second half of 2019. A diverse range of factors may inhibit switching, including psychological factors, lack of knowledge on the costs and benefits, and the perceived complexity.

Get in touch at info@mortgagebrokers.ie apply online or call us and we can help …

Read More

We are one of only 19 brokers in Ireland who can offer you an AvantMoney mortgage!

We are really pleased to be among the very small and select group of brokers in the country who were asked to be part of the AvantMoney lending panel. If you want a low cost fixed rate from the mortgage arm of AvantCard then you must go through a broker and we’d be happy to help you should you want to work with a firm that has been around for almost 20 years and where every advisor has at least a decade of experience. Call us to find out more 01 6790990

Read More

Social Media tips for Mortgage Brokers

Social media opens so many opportunities for mortgage brokers to expand and gain new clients. This is also an inexpensive way for brokers to reach advertise and target potential clients. It is a great idea for brokers to use all types of social media such as Facebook, Twitter, and LinkedIn. Each of these have unique ways of benefiting a mortgage broker and their business.

Facebook

Facebook is one of the most well-known types of social media that can be utilized. Over 2.4 billion people are using Facebook every month. When using Facebook for your business, you must make sure to advertise in the countries and cities that you are wanting to serve. Also picking your audience is another thing that brokers will want to pay attention to. Who are you trying to reach? What age, gender, or educational background. If you have any types of tips for clients on your company website, you can start sharing those one your Facebook page. Not only are these tips helpful for potential clients but they can also bring more traffic to your website …

Read More

Quick ways to attract new clients

Attracting new clients is how a business can grow. You must continue to move forward and the quicker you are able to get more customers, the better off your company is. The following are a few ways to reach more clients:

Ads

Ads are always a great way to reach new customers and with the access that we have to technology today, you can reach a number of possible clients. Placing ads on social media such as Facebook, Instagram, and Twitter are perfect places to advertise. These are also inexpensive places to place these ads.

Reach out

Reaching out is another way to pull clients in as well as bringing old clients back. It does not hurt to reach out to old clients to check in on them and see if there is anything that you can help them with. You will also want to make sure to keep in touch with current clients and offer them the same help. If there were any potential clients who never fully committed but showed interest, then reach out to them and …

Read More

Five Things to look at Before Switching your Mortgage

 

Switching your mortgage can be a lot of work but it can also save you a large amount of money. Before switching, you should pay attention to the following:

It is important to know what your repayment history looks like. Have you been making your payments on time or has this been a problem for you? This will be shown on your credit history as well which is something that will be looked at by the banks. You should also check to make sure that you do not owe more than what your property is now worth. Switching your mortgage may be difficult for you if this is the case. Figure out your LTV which is the loan to value. This is a ratio that lenders use to figure out how much risk is being taken on the loan. You can figure out this number by dividing the barrowed amount by the appraised value and multiply that amount by one hundred. Lets say for example that the property that you are looking to buy is €300,000 and you deposit …

Read More

Tips on switching your mortgage

Switching your mortgage could be the best decision that you make. It can possibly help you save a large amount of money if done correctly. If you are not sure how to go about this, here are a few tips of what to look for and what to think about.

Think about how much you could save. In order for you to save, you need to make sure that you are shopping around for the best deal. When shopping around, it is similar to what you should have done for your mortgage. Talk to different mortgage brokers and banks. See what they have to say about switching and is it worth it for you?

What type of mortgage do you have? An annuity mortgage, interest only mortgage, pension mortgage, or endowment mortgage? This can also make a difference when thinking of switching. You will also want to know what your current interest rate is. Get in touch with your current bank to find out what your rate is if you are not sure what it is.

If you have a …

Read More

Social Media tips for Insurance Brokers

Social media plays such a big role in people’s lives these days which is why it is important for insurance brokers to know how to advertise on there and how to use it to reach as many potential clients as possible.

You must stay consistent with your post and keeping them up to date Post photos of different employees to make it more personable If your company is involved with different events in the neighborhood, post photos of it Make your post relatable and in a way that people can understand Promoting any type of special or deals that you may have is a great way to attract possible clients Create posts where people can feel comfortable asking questions and create a type of relationship with them if possible Using multiple types of social media is important in order to reach different demographics. Facebook, Instagram, Twitter, Snapchat, and Linkedin are all types of social media in which companies should have some type of account Facebook also has an option to buy an ad if you would like to advertise in …

Read More

What to watch for when getting house insurance?

When you are in the market to buying a home, there are many things that you are doing to prepare and getting house insurance is going to be one of those things. Not everyone is thinking about what to watch for when it comes to getting house insurance but there are a few things you need to be aware of.

How much coverage do you need?

The more that you cover, the less you will have to pay if something were to happen. When figuring how much coverage you need, you may want to consider the square footage of you home, local construction costs, the style of your home, how many bedrooms, bathrooms, and any special features in your home. You will also want to make a detailed list of the things you own in order to have a better understanding of how much insurance you will need.

What type of coverage?

Knowing the type of coverage that you want is important when getting house insurance. You will want to contact multiple insurance companies to get quotes. You can also …

Read More

Family & Life Insurance

Knowing how much life insurance you need is a one of the main questions asked. The answer is different for everyone because it depends on your situation and where you are in your life. Someone who has a family is going to want to make sure that if anything were to happen to them, that their family is going to be financially covered. Are you going to cover your kids? Is your spouse going to get life insurance? These are all questions that come into consideration when you have a family and begin looking into life insurance.

First you are going to want to figure out how much you can afford. More coverage is going to cost you more each month, so make sure to run the numbers and see what price will best fit you and go from there to figure out how much coverage that price can get you. Remember that working with an insurance broker can help you to get the best price on coverage that will fit your needs.

Now you will need to figure out …

Read More