People Are Shifting to Digital Mortgages, Here’s Why

Digital mortgages are becoming increasingly popular due to the increase in technology. People are more likely to want to take care of everything online. This change came in full swing when the COVID pandemic happened. 

 

Companies and people alike had to go through the transition period of shifting everything remote. Once people discovered that things can be done this way, they did not want to go back.

 

OnlineApplication is a company that decided to make a software that would simplify this process for everyone involved in the process. Helping the brokers, lenders and the borrowers.

 

By providing a point to store all documents safely in one place, it eliminated the need for face to face meetings and stacks of paperwork. Beneficial to both sides. 

 

Benefits to Digital Mortgages

 

Digital mortgages have many advantages opposed to applying for them on paper, in person. 

 

One of the benefits to Digitally applying for a mortgage is a faster pre-approval. The system that OnlineApplication has will go through your data and pre-approve you without the need for a …

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Spanish Bank Transforms Irish Mortgage Market

Spanish mortgage provider Avant Money has just introduced a new range of products that have the potential to transform the Irish mortgage market. Avant Money has become the first mortgage provider in Ireland to offer a 30 year, fixed rate mortgage. In this type of mortgage, the repayments will be the same every month for the entire 30 year lifetime of the loan. Avant Money’s new fixed rate mortgages have lifetimes between 15 and 30 years, and offer rates as low as 2.25 %. These new long term offerings were introduced shortly after Finance Ireland shook up the market with its innovative 20 year mortgage. These latest moves by brokers represent a huge step for the Irish market, as product offerings here are beginning to more closely resemble that of Spain and France.

Because wholesale interest rates are currently at historic lows, homeowners in Ireland are more increasingly taking out longer term fixed rate loans. Avant Money’s new portfolio of products includes 15 year, 20 year, 25 year, and 30 year fixed rate mortgages, and the rates vary based on …

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Apply for a mortgage online.

Mortgages in Ireland have yet to establish a truly ‘online’ presence, so if you got here by searching for an ‘online mortgage’ or something along those lines then I’ll break the bad news first, it ain’t gonna happen. What you can do is make an initial mortgage application online via this site, and one of the representatives from Irish Mortgage Brokers will call/email you back.

The actual process generally tends to be that you will speak to a qualified consultant (our team have qualifications varying from ACCA <accountant>, QFA <qualified financial adviser> to LIAM(dip) <mortgage diploma> along with various university certificates, diplomas and degrees in many topics), your consultant will help determine what you can or cannot obtain in the lending market for a property purchase and from that point it will be up to you to decide if you’d like to proceed.

After that you will (usually) meet with us and we’ll gather the various documents the bank need to underwrite the mortgage and …

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