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Who Are The Best Mortgage Protection Brokers in Ireland

Updated: Apr 5, 2023

The point of this blog is not to tell you that Citywide Financial are the best Mortgage Protection Brokers in the country, but to help you to compare brokers so you can choose the one that suits you and your financial requirements.

Protecting your home is vital. Whether you need a new policy, or want to review an existing one, it’s important to find the best cover for you at the best price.


Comparing Mortgage Protection brokers

Mortgage Protection gives you peace of mind so that should something unexpected happen you’ll have cover in place. However many people pay more than they need to each year and that’s why using a broker makes sense. A good broker will compare quotes and benefits from Ireland’s main Mortgage Protection providers and once they have found the right policy for you, they will guide you through the process ensuring to keep you updated throughout.


Don’t Limit Your Choice

If you go directly to the bank you got your mortgage through to get your mortgage protection sorted, your choice is limited which means you are not necessarily getting the cheapest or most suitable policy for you. Each of the banks is tied to a particular Life Company for example Bank of Ireland are tied to New Ireland. If you go through Bank of Ireland for your life or mortgage protection cover, they will only quote you the New Ireland price. This may not be the cheapest or most suitable policy for your particular circumstances. If in the past you have taken out life or mortgage protection through your bank, we can review it for you and in many cases, we can get a cheaper and more suitable policy for our clients.


How Many Of the Insurers Does Your Chosen Broker Deal With?

So you have decided to go with a particular broker because they seem professional and knowledgeable. One of the first questions to ask them is how many of the life companies do they deal with. If they don’t deal with all of the following, then you may not necessarily be getting the best price/policy for you. Aviva, Irish Life, New Ireland, Royal London and Zurich.


Do They Offer Financial Advice?

If you’re confident with the jargon associated with Mortgage Protection insurance then going to an online broker comparison site might be the way to go. However if your case is in anyway complex or you have had medical issues, it is not always straightforward to do the research yourself. This is where talking to a knowledgeable broker is invaluable as they will do the legwork for you and will know who will be the most sympathetic insurer for your particular scenario.


Is It A User Friendly Process?

The entire process of taking out mortgage protection should be stress free from start to finish. You provide your chosen broker with your details/medical history. They offer advice if required and send you a range of quotes to consider. Once you have made a decision, the application process is online using digital signature without the need for postage/printing etc. The broker keeps in touch in relation to the policy and its progress. It shouldn’t be any more difficult than this.


Price Comparison

At the end of the day all brokers have access to the same products and the same prices, so the differences you may come across in prices could be down to comparing two different policies. One may be cheaper as it doesn’t have a “conversion option” or one may be more expensive because it includes “indexation”. So the important thing to know is that if you are comparing prices, make sure you are comparing like with like. Once you are happy that this is the case, you are happy with the price and you have found a broker who is honest and explains everything clearly to you, then your job is done.

If you’re looking for a Mortgage Protection quote, then we’re here to help. Get in touch today

(01) 513 8710

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