In Ireland the majority of people still take their first mortgage directly via a bank and in most cases via their own bank. In the UK this is the converse, most people take their mortgage via a broker. So why is the Irish market so different? I believe this is because consumer do not really understand what mortgage brokers do. Most consumers have experience of general insurance brokers for car or home insurance but not of mortgage brokers.
As a broker when I speak to new customers and explain the service we offer, that we do the hard work for our customers in researching rates and lender offerings, that at doddl we do not charge a fee for our service and that the rates you get via doddl are those that you would get by going to each of the lenders directly the normal response is that sounds fantastic! And to me, I agree, the free service we provide as a broker is fantastic. I also firmly believe that the use of a professional mortgage broker is hugely valuable due to the range of products a broker has access to. At doddl we offer access to mortgage products from all banks. A key part of our service is that we spend time understanding our customers requirements so we can offer a mortgage product that best suits their particular needs.
We set up doddl to try to change how Irish people source information on mortgages, to make it easier for our customers to see the benefits of mortgage switching; and to trust that we have their best interests at heart as we are not tied to any one bank.
Our mission is to deliver a simple and intuitive platform that allows customers to easily see if they can make savings by switching their mortgage, and then to deliver a professional service via our mortgage experts that will assist you through each step of the mortgage switching process.
We have created a secure customer portal that allows you to engage with us and track the progress of your mortgage application. We will continue to evolve our process with the aim of making mortgage switching easy and accessible for all and to highlight the benefits of regular switching.
Not convinced about the free service part?
It’s actually very simple. We do not charge a fee to our customers because as a broker we get paid a commission on each completed mortgage by the lender our customer takes their mortgage with. The commission rate is the same for all lenders so this ensures we are impartial with no product or producer bias. Commission is paid to a broker as we are your point of contact throughout the mortgage process from enquiry to mortgage draw down. The banks use the broker network as a distribution channel just as they would do other channels such as their direct team or branch network to procure mortgage business. Mortgage commission is again the same regardless of the bank and this commissions allows us to continue offering you, our customer, a free service.
Benefits of switching your mortgage with the help of doddl?
- See if you can save by switching at a time that suits you, at home or on the go through our platform
- Speak with our expert mortgage advisers via email, or phone at a time that suits you
- We research the market for you, making sure that you get the most suitable rate for you
- You can track each stage of your application from your doddl customer account
- We provide a free service – there is no cost to you or hidden fees to you in using the services of doddl
- Terms and jargon used can be confusing, we translate these into a language that is easy to understand
- We work closely with you, to ensure your mortgage switching experience is so positive that you continue to use our services in the future
We know that sometimes the hardest part is knowing where to start! With doddl, the starting point is giving us a call or sending us an email and then you are on your way.