Paddy Carolan (QFA)

I started my career in the mortgage business in 1999, and in that time I’ve helped clients through the Celtic Tiger, the crash, the recovery, and everything in between. I’ve seen almost every kind of case you can imagine – and every so often, one that nobody has seen before.

People come to a broker like me for different reasons:

Some just want to talk to someone who can get them started.
Some already have Approval in Principle from their own bank and wonder if there is a better deal elsewhere.
Others have had problems getting a mortgage in the past and want to know if things have changed.

In every one of those situations, my job is the same: to understand your story, match it to the right lender, and guide you from first conversation to keys in hand – even when the road is not straightforward.

Why going it alone can be so hard

What most clients don’t realise is that each lender has its own detailed policy, and those policies change all the time. You could not possibly keep up with every bank and non‑bank lender’s rules unless it was your full‑time job.

For brokers, it is.

Lenders constantly adjust:

Rates, to compete for market share.
Criteria, to respond to regulation, funding costs and risk appetite.
Documentation and repayment rules, like Proven / Demonstrated Repayment Ability (PRA/DRA), overtime, commission, rental income and more.

Trying to get a mortgage approved can feel a bit like asking a mechanic to service a car while the engine is still running; everything is moving in real time. My role is to keep track of those moving parts so you don’t have to.

How a broker can turn “no” into “yes”

Irish Mortgage Corporation has been in business since 1990 and is proud to be Ireland’s oldest and largest mortgage broker, with over 36 years. Because we work with all the major lenders and many specialist ones we can often see options that simply aren’t visible when you talk to one lender in isolation. We also regularly push lenders to refine or rethink policies when we see a niche that could work for good‑quality borrowers.

That means:

You might be declined by your own bank, but there could still be another lender, or another way to structure your case, that makes approval possible.

Very often, that one phone call or email to a broker is the difference between securing the home you really want and missing out.

A real case: from refusal to the perfect family home

Recently, I worked with a client who had found the perfect house for his family. The property ticked every box, but his own lender refused the loan because he did not meet their Proven Repayment Ability rules. Time was against him and there was another buyer ready to go. The agent could not hold the property indefinitely.

Here is how we approached it:

Second lender – more flexible PRA, but delays: I brought the case to another mainstream lender with a less strict PRA policy. Initially things looked positive, but then they came back with a long list of clarifications. Working through those queries would take time the client simply did not have.
Third, niche lender – higher rate, but a real solution: I then discussed a third, specialist lender with the client. The rate was higher, but they:

Did not require PRA at all, and
Were happy for the client, who is married, to apply in his sole name, which was crucial to having any chance of approval.

Even there, we had plenty of clarifications to work through, but I knew this was the end of the line in terms of viable options. We committed to the process and, to both our relief, the lender approved the loan.

The result? The family got the mortgage they needed, secured the home that was right for them, and avoided the heartbreak of watching someone else move into a house they had already mentally moved into themselves.

What happens next matters just as much

The story does not end at the drawdown, because now that they are now my clients, I will:

Keep an eye on the market while they enjoy their new home.
Get in touch before their fixed rate ends in three years to review options.
Look for ways to switch them to a sharper rate once their situation and the market allow it.

In my honest view, this family would not have obtained a mortgage if they had gone direct to lenders alone, even if they had spoken to every lender with a direct channel, it was the combination of market knowledge, lender access and persistence through a broker that made their purchase possible.

Why even “simple” cases benefit from a broker

You might think: “That’s a complex case and mine is straightforward.” And that may be true. But even if your application is simple, there is still a big question to answer:

“How do I know I am on the best deal not just today, but over the 25–35 years I might have this mortgage?”

Only a broker with complete market access can:

Compare all suitable lenders side by side.
Explain the trade‑offs between rates, terms, cashback offers and flexibility.
Help you review and remortgage or switch in future when better options arise.

At Irish Mortgage Corporation, we do all of that free of charge for our clients. We are paid a fee by the lender, and our loyalty is to the person sitting across from us not to any one lender.

Ready to talk about your own mortgage?

Whether you:

Are just starting to think about buying,
Already have Approval in Principle and want to check if there is a better deal, or
Have been refused before and want to know if anything has changed,

I would be happy to talk things through with you.

You can lean on my experience and on Irish Mortgage Corporation’s 36‑year track record to make sense of your options in plain English, understand which lenders are the best fit for your situation, and build a clear plan to get you from where you are today to where you want to be.

If you are ready to explore what is possible, get in touch with me and let’s see how we can put that experience to work for you.