Sunday Times ‘Money’ Section mentions Irish Mortgage Brokers

We were very pleased to see that we were mentioned in the Sunday Times ‘Money’ section this week in an article by Niall Brady in which he examined the implications of reduced competition and increased regulation in the financial services market in Ireland.

For our part we were asked about mortgage credit and had this to say: ‘Karl Deeter of Irish Mortgage Brokers said: “Lenders are using every blunt instrument in the box to frustrate loan applications. One of my clients was turned down on the pretext her employment wasn’t secure. She works in reinsurance and, because of last year’s record floods, her employer recorded a loss. It is part of a global reinsurance giant, though, that makes €3 billion in profits a year. That’s the type of stupidity that borrowers are dealing with.”

First-time buyers must have at least a 10% deposit and a record of saving to back it up. “Banks aren’t interested in parental gifts or guarantees,” said Deeter. “They …

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