Here at MyHome.ie, we're delighted to have teamed up with Switcheroo.ie to help you unlock your mortgage dream.
Switcheroo.ie offers whole of market mortgage advice and support to ensure you get the right mortgage for you.
Why work with them? Let's look at the experience of first time buyers Luke and Julie and second time buyers Ciara and Conor, who provided glowing testimonials for the service offered by Switcheroo.
First Time Buyers: Luke and Julie, Dublin
How familiar were you with the mortgage process?
I was aware of the mortgage process from friends and family who had recently bought houses. I knew that bank statements and income documents were required but I was not sure about what the actual steps were i.e. you get the AIP first and then there are more requirements and then you get your loan offer and then there are more requirements and finally you draw down. I also did not know the specific details for each stage like getting a valuation, mortgage protection, etc.
Why did you decide to go to a mortgage intermediary?
I decided to choose a mortgage intermediary because a friend had mentioned it made the process a lot easier and there is only one point of contact. It was handy knowing that the valuation, insurance, protection etc. could all be done through an intermediary. On top of this, I had seen from advertising that there were more options available through an intermediary as opposed to directly applying myself.
How did Swithceroo help you decide what bank and mortgage?
They assessed what my situation was by asking details around my income and expenditure. With this info they worked out what I was able to afford and then they provided me with options across a few lenders. They also told me about the benefits/negatives for each such as being able to overpay by 10% with Avant although they have a stricter credit policy. Similarly, they let me know that certain banks might take a bit longer and as I was in a rush to get an approval, I may not want to apply with them.
Was there a lot of paperwork required?
Almost everything was done digitally so all I had to do was upload PDF files. I had to do a few wet signatures on documents but other than that it was all digital.
How did you find the banks to banks to deal with?
There were some clarifications they had that I found trivial or unnecessary, however, the switcheroo team explained the reasoning behind them. I did not have much interaction with the banks themselves as it was all done through switcheroo and that process was very smooth.
When you found a house was there much to do with the mortgage?
We had to get a valuation, life and home insurance which Switcheroo sorted for us and we hired a solicitor to do the conveyancing work
Overall, how would rate your experience with Switcheroo?
My experience with Switcheroo was great. Having someone who understands the mortgage process very well and was able to answer any questions I had was very helpful. I never felt as though they were trying to convince me to choose a certain option because they are completely independent, and so they had my best interest in mind. I had plenty of information about how my application was progressing and if I ever wanted an update, they were quick to provide one.
Would you recommend them to other MyHome customers?
I would definitely recommend them to other MyHome customers. Any worries or doubts I had about getting my first home were quickly gone after the initial meeting with my mortgage advisor.
Second Time Buyers: Ciara and Conor, Dublin 4
How familiar were you with the mortgage process?
This was our second time buying a home, so we had gone through this before. Previously we went direct to the bank but thankfully this time we went through Switcheroo which made the whole process seem much easier than last time.
Why did you decide to go to a mortgage intermediary?
When we bought our first home the mortgage process was a bit of a nightmare as we seemed to get passed around the bank from person to person and communication was very poor. We were keen to avoid that again. From our first conversation with Swithceroo the mortgage advisor they explained that they would handle all the bank interactions and that they had dedicated account managers in each bank, so for us it was a simple decision. More choice less hassle, and they did come through for us on this. It’s a great service.
How did Switcheroo help you decide what bank and mortgage?
They have calculators that show the cost of every mortgage across every bank. Having the choice of the whole market in one conversation is brilliant and as opposed to being limited to the options of one bank, this ultimately saved us a lot of money as we found a cheaper provider than what our previous lender would have offered us.
Was there a lot of paperwork required ?
It seemed less than the first time around.
How did you find the banks to banks to deal with?
Thankfully, Switcheroo dealt with the bank and they kept us fully informed along the way.
When you found a house was there much to do with the mortgage?
Both of us were very busy. And Ciara was on maternity leave and so we were unsure if the mortgage could drawdown while she was still on leave. Swithceroo navigated us through this process enabling us to drawdown prior to returning to work which was brilliant as it meant we could do the move with our new baby while Ciara was still off.
Overall, how would rate your experience with Switcheroo?
Having the guidance of Switcher made our second mortgage so much easier than first time around. We were slightly dreading the mortgage process, but they made it so much easier taking a lot of the heavy lifting, so we didn’t have to stress about it. They kept us updated at all times, our mortgage advisor stayed with us throughout the process which was brilliant, and we knew we could call her at any time if we had a question.
Would you recommend them to other MyHome customers?
I could not recommend Switcheroo highly enough.
