Note on Mortgages from

Prepared by: Paddy Mahony, Director,

June 2016

The mortgage market has become very competitive recently especially in the new business and switcher mortgage space. We have prepared below a market comparison to assist clients in making informed decisions. We have also included information on new entrants to the market and various promotions.

Cost Comparison
Lender Rate Monthly Cost Cost over 25 Years
KBC* 3.30% 1,228 368,400
PTSB 4.00% 1,320 396,000
Pepper Homeloans 3.55% 1,258 377,400
Bank of Ireland# 4.20% 1,348 404,400
Ulster Bank 3.35% 1,232 369,600
Haven/AIB 3.55% 1,258 377,400

Based on €250,000 mortgage over 25 years (80% LTV). Rates as per BestAdvice. Exclude promotional one year discounted rates

# Bank of Ireland due to conditions of state bailout are not permitted to distribute via intermediaries.

*KBC rate includes 0.2% discount for switching current account.

There is a handy calculator here As you can see from above the difference between the lowest and highest rate is €40,800 over the life of the Mortgage.

There are also a number of fixed rate options available which may be of interest to clients. These are available on request.

New entrants

Pepper Homeloans have recently entered the market offering an alternative. While in some cases they may be more expensive they will look at credit risk in a different way to mainstream banks and will take individuals with previous repayment issues (as long as the loan is now up to date and proposed loan is sustainable).


PTSB, BOI and now EBS offer 2% cashback on all Mortgages. KBC offer €2,000 cashback for switcher mortgages and Ulster Bank offer €1,500 towards legal fees for new business Mortgages. It is important that any offers are considered in relation to the overall cost of the Mortgage rather than solely the upfront promotion.


At we have agencies with the majority of the lenders operating in the market including new entrant Pepper Homeloans.

We will prepare a detailed Financial Plan for your review and to assist with the overall underwriting process. We will guide you through the approval process all the way up to drawdown with a dedicated advisor.

In a lot of case we are remunerated by the relevant provider. In the case of providers such as BOI/AIB and EBS who don’t deal with intermediaries we can assist you in preparing the application and will charge a fee.

Next steps

Where we are remunerated by the relevant provider there is no additional cost for this service for Mortgages applications over €100,000 from as we are paid a commission from the relevant provider if the Mortgage is drawn down. For Mortgages below €100,000 an administration fee of €200 will apply. Contact your regular advisor to discuss in more detail on 01 498 0005.

PFP Financial Services Limited (trading as SmartQuotes) is Regulated by the Central Bank of Ireland.

Additional rate reductions available

– Contact us today on 01 498 0005

Warning: The cost of your monthly payments may increase, if you do not keep up your repayments, you may lose your home.
Warning: The entire amount you have borrowed will still be outstanding at the end of the interest-only period.
Warning: You may have to pay charges if you pay off a fixed-rate loan early.
Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.