Cost guide
The cost of mortgage and financial advisors in Ireland can vary significantly depending on the service model. Many advisors are paid via commission from lenders, meaning no upfront fee for you, while others operate on a fixed fee basis for independent advice.
Typical cost in Ireland
€0 - €2,500 (typically fee-based or commission)
For mortgage advice, if you go through a broker who is paid by the lender, you often won't pay a direct fee. The broker receives a commission from the bank once your mortgage is approved and drawn down. This commission is factored into the bank's overall costs.
However, some advisors offer fee-based services, especially for complex financial planning or when providing advice independent of specific lender products. These fees can range from a few hundred euro for a basic consultation to €2,500 or more for comprehensive financial planning, including mortgage advice.
The complexity of your financial situation is a key driver of cost. If you have a straightforward mortgage application, the process is usually simpler and may not incur a direct fee. For self-employed individuals, those with irregular income, or those seeking advice on multiple financial products, the advisor's time and expertise will likely command a higher fee if they charge directly.
When comparing quotes, understand how the advisor is remunerated. If it's commission-based, the advice might be influenced by which products pay higher commissions, though regulated advisors must act in your best interest. Fee-based advisors offer transparency, but ensure the fee covers the full scope of advice you need.
Typically, a mortgage broker's service includes finding suitable mortgage products, assisting with the application process, and liaising with lenders. Financial planning services often include investment advice, retirement planning, and insurance needs, which would usually be separate from basic mortgage brokerage.
Always clarify the fee structure upfront. Ask if the fee is a one-off charge, an hourly rate, or a percentage of the mortgage amount or assets managed. Ensure you receive a clear breakdown of what the fee covers and what is excluded, such as specific product costs or ongoing management fees.
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Not always. Many mortgage brokers are paid a commission by the lender upon successful mortgage drawdown, meaning you may not pay an upfront fee. However, some advisors charge a direct fee for their services.
Fee-based financial advisors in Ireland can charge anywhere from €500 to €2,500 or more for comprehensive financial planning. This can include mortgage advice, investment, and retirement planning.
Most mortgage brokers in Ireland are remunerated through commission paid by the mortgage lender. This commission is usually a percentage of the mortgage amount approved and drawn down.
Fee-based advisors offer independent advice without potential commission bias. However, commission-based brokers are regulated and must act in your best interest, and their service often comes at no direct cost to you.
If you pay a fee, it typically covers the advisor's time for consultation, research, application assistance, and communication with lenders. Always confirm the exact scope of services covered by the fee.
Prices are indicative guides only and vary by job, location and provider. Always confirm with the business.
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