Buying a home in Ireland is one of the biggest financial commitments you’ll ever make. That’s why choosing the right mortgage is so important. A mortgage broker can be your greatest ally in navigating the process, but to get the best results you need to be prepared with the right questions to ask a mortgage broker.
The truth is that a good mortgage broker will guide you through the steps and explain your options. But having your own checklist of questions to ask a mortgage broker can give you confidence and help you avoid missing details that could affect your loan. To save you the guesswork, we’ve compiled ten essential questions (plus a few extras) that every borrower should ask before signing on the dotted line.
1. How many lenders do you work with, and do you offer whole-of-market advice?
Not every broker offers the same level of access. Some only work with a handful of lenders, while others can compare products across the whole market. The more choice they have, the better your chances of securing a competitive deal. If you’re wondering, “is it easier to get a mortgage through a broker?” the answer is yes, but only if they have access to a wide range of options. You can read more about the benefits of using a mortgage broker in our detailed guide.
2. What’s your fee and how are you paid?
Transparency is everything. One of the most important things to ask a mortgage broker is how they earn their income. Some brokers charge you directly, while others are paid by the lender. Either way, you’ll want to know upfront to avoid surprises later. For more details on what do mortgage brokers charge, check out our guide here.
3. What type of mortgage is best suited to my financial situation?
Fixed, variable, or tracker? The right answer depends on your income, risk tolerance, and long-term plans. A good mortgage broker won’t just offer you the lowest rate. They’ll explain the pros and cons of each type of mortgage so you can make an informed choice. This is one of the most valuable questions to ask a mortgage advisor.
4. How much can I realistically borrow, and how is that calculated?
In Ireland, lenders typically use income multiples, affordability assessments, and proven repayment capacity to calculate borrowing power. A trustworthy broker should give you a realistic figure, not just a headline number. Use our calculator to explore how much you can borrow for a mortgage in Ireland.
5. What documents do I need to get the process started?
Missing or incomplete documents can slow down your mortgage application. Common mistakes include submitting incomplete pay slips or missing bank statements. To avoid delays, review our full checklist of documents required for a mortgage loan.
6. Can you help me apply for the First Home Scheme or the Help to Buy incentive?
Government schemes like the First Home Scheme or Help to Buy can be game changers for first-time buyers in Ireland. A broker should not only confirm your eligibility but also guide you through the application. If you’re buying your first home, this is one of the most practical questions to ask a mortgage broker in Ireland. For tailored advice, explore our page on first time buyer mortgage.
7. Do I need mortgage protection or life insurance to proceed?
Yes. In Ireland both mortgage protection and home insurance are required before drawdown in Ireland. Your broker can guide you on the best policies and providers to ensure you meet the bank’s requirements without breaking the bank.
8. Can I make overpayments or pay off the mortgage early without penalty?
Some lenders allow partial or full repayments early, while others charge fees. If financial flexibility is important to you (and it should), this is a key question to ask a mortgage broker before choosing your loan.
9. How long does it take to get mortgage approval in principle?
In Ireland, a mortgage broker can give verbal approval over the phone in minutes. However, a fully underwritten mortgage approval typically takes 5 to 10 working days. For more details on how long does mortgage approval take, see our dedicated guide.
10. Are there any cashback offers or incentives with this loan?
Many Irish lenders offer cashback deals, sometimes up to 3% of the mortgage balance. But beware: while tempting, these deals often come with higher interest rates. A broker should help you weigh up the short-term perks against long-term costs.
Getting ready for your mortgage broker meeting
Preparation is key. Before your meeting, take time to review your budget, gather the correct documents, and make a list of your priorities (e.g., lowest rate, flexibility, overpayment options). For practical tips on how to get mortgage ready, check out our guide.
And don’t forget, one of the most important steps is knowing what questions to ask your mortgage broker. Going in with a clear list will help you feel more confident and get better results from the meeting.
How MortgageLine can help you make the right choice
At MortgageLine, we’ve been helping Irish buyers secure the best mortgage deals for over 20 years. Whether you’re a first-time buyer, switching lender, or trading up, our team of brokers is here to make the process straightforward and stress-free. We’ll explain your options, highlight the potential risks, and give you confidence every step of the way.
For the latest best first home buyer mortgage rates, speak to us today.
Contact us today for a free mortgage review call.
FAQs
How to prepare for the first call with a mortgage broker?
Review your budget, gather key documents (such as pay slips and bank statements), and write down your top questions. This ensures you’ll get the most value out of your first conversation with your mortgage broker.
What not to say to a mortgage broker?
Don’t hold back financial details. Remember, your broker is on your side. Honesty really is the best policy here as surprises later on in the process can delay or derail your application.
What to talk to a mortgage broker about?
Cover everything from borrowing limits and mortgage types to incentives, insurance, and overpayment options. Essentially, anything that impacts your monthly repayments and long-term financial security belongs on your list of things to ask a mortgage broker.
