Brokers Ireland Network Services Limited trading as Brokers Ireland Mortgages, formerly named PIBA Mortgage Services main objective is to allow for access to almost all the lending institutions that operate through the Broker market, regardless of the individual Financial Broker’s volume of mortgage business. When the mortgage services unit was initially set up in 2006 many Financial Brokers could not obtain individual direct agency appointments with the various lending institutions due to the volume thresholds imposed on individual agencies. Obtaining a new appointment from a lender still remains onerous, with some applications for appointments being refused. Therefore, the benefit of the service Brokers Ireland Mortgage Services provides is now more important than ever.

The role of Brokers Ireland Mortgage Services is to liaise between the lender and the mortgage advisor and to undertake the administration associated with the application process. The mortgage unit provides information to Financial Brokers on the various lenders and their products. Through our experience in handling high volumes of applications we are familiar with each lender’s specific criteria, requirements and niche areas. As a result the packaging of the application we send to lenders is crucially delivered to the required standard. Most lenders will currently not assess an application without a full application being received.

The mortgage unit will initially underwrite your application to ensure it is not only packaged and presented in the best way, but advise you of any missing information or documents you need to obtain prior to submitting the case to the lender. This in turn ensures conversion rates of applications proceeding straight to Approval In Principle remain high. We can also answer queries on criteria requirements to ensure the advice you offer your clients is current and correct. We have on site lender underwriters that call into our offices on a weekly basis and dedicated teams in the lenders that we can approach with your cases.
Another advantage is that we facilitate a more cost effective processing facility for both the Financial Broker and the lender. Some Financial Brokers feel that the time and cost of processing

a mortgage application can outweigh the benefits gained, often preventing them from taking on mortgage business. However, if you are part of a packaging facility such as Brokers Ireland Mortgage Services these costs can be reduced, in turn making the offering of a mortgage service to your clients more attractive. The mortgage process has changed quite significantly since the establishment of the mortgage unit. In recent months, all the lenders have updated their calculators and criteria, affecting a large number of applications. Lenders are focusing on affordability, net disposable income, repayment capacity and the client’s profile.  Responsible lending is a key focus of lenders, and in the areas of balance of funds and repayment capacity, lenders will focus on whether or not the client can sustain the level of borrowings requested. All clients now need to prove their ability to pay the potential mortgage repayment on a monthly basis

for the term of the mortgage. This must be evidenced for the previous six months regardless of income and other outgoings. The difference in the assessment of cases is resulting in the mortgage application process taking longer than it previously did. Lender volumes are also currently high, resulting in some delays to turnaround times; but this demonstrates signs of an increase in mortgage applications. These applications are also subjected to the Central Bank of Ireland mortgage lending rules which places restrictions on mortgage lenders in relation to the loan to values and loan to income ratios.
Brokers Ireland Mortgage Services endeavours to communicate every change in the intermediary lending market to its Financial Brokers as they happen. Brokers are updated via the online system, website and bi-weekly newsletters, ensuring that they have the most up-to-date information when advising clients. The online system is a significant resource for Financial Brokers, containing lender criteria guides and packaging tips and the required lender documentation. All the information needed to answer a mortgage enquiry is available to members in our Library suite on the website. We also provide our members with individual lender calculators and access to a rates section online to ensure you are providing the best advice to your clients through your brokerage’s appointment with Brokers Ireland Mortgage Services and where applicable direct appointments the brokerage holds.

Brokers Ireland Mortgage Services offers all its members mortgage training courses on a monthly basis, these are inclusive of the Brokers Ireland membership. These courses provide training on the system and packaging, in addition to individual lender training with criteria guides, calculators and case studies. We also provide a mortgage and compliance training course which is aimed at those members who are new to the lending business or have just been authorised.
With intermediary mortgage business on the rise, a packager can be key in providing an efficient back office service without any of the overhead costs. Brokers Ireland Mortgage Services continues to strive to be the market leading packager offering a quality and professional services to its members. The service provided by Brokers Ireland Mortgage Services is of critical importance in ensuring that the growing mortgage market remains accessible to Brokers Ireland members in a busy environment.