There is a wide range of mortgage products available in the marketplace

We can check to see if you are currently paying too much for your mortgage or for your other business or personal borrowings!

We can advise on the best rates and the best type of mortgage to suit your individual needs, the most common types are:

Annuity Mortgage
This is the most common mortgage taken out by borrowers. The payments on the loan comprise of capital and interest where the interest is usually calculated on a monthly basis.

Current Account/Cheque Book Mortgage
The advantage of this type of loan is that any credit in your current account will be offset against the interest being charged on your mortgage. This Mortgage combines a variable rate repayment with a current account

Interest Only Mortgage
In certain circumstances interest only mortgages could be arranged. No regular capital repayments would be made and final capital repayments would be arranged with the lender

Endowment Mortgage
This mortgage is an interest only loan, which requires an endowment policy to clear the loan after the term has completed. Endowment policies have not previously performed well enough over the past number of years. These policies have sometimes left home owners with a shortfall.

Pension Mortgage
This mortgage is an interest only loan, which requires a pension policy to clear the loan after the term has completed. The advantage of a pension mortgage is that both the capital and interest may obtain tax relief. While the loan is not normally repaid until the end, additional capital repayments can be made at any time (see note re fixed rate penalties below).

Fixed Rate Mortgage
Like the name suggests a fixed rate mortgage is a loan where the rate is fixed for a certain term. This may vary from 1 to 10 years.

The downside to fixed rate mortgages is the penalty which may apply when the borrower wants to revert to a variable rate or change lender. This penalty, depending on the lender, may cost thousands.

The upside is that the borrower knows in advance how much their mortgage will cost regardless of any rate changes during the fixed term.

Tracker Mortgage
This is a new concept to Irish lending and is the most popular choice for borrowers at the moment. A lender who offers trackers rates is issuing a guarantee that the rate applied to the loan will stay within a percentage of the ECB (link to ECB Rate) rate.

Typically a reduction of .4% for a first time buyer and at least 1% for those borrowing less than 60% of the value of the house. The margin applied to this rate will vary from lender to lender. Also taken into consideration is the amount borrowed verses property value or Loan to Value

Variable Rate Mortgage
This loan comprises of capital and interest payments. The rate applied to the loan will fluctuate from time to time as the ECB rate (European Central Bank) increases or decreases.

Split Rate Mortgage
This gives the borrower the option of splitting their loan into two or more parts. These may vary either by rate (fixed, variable, tracker), or repayment type (annuity or interest only).

Development Loans
Special development loans on an interest only basis can be arranged to fund the site purchase and construction costs until the property is sold.

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