When it comes to buying a home or refinancing your mortgage, there’s no shortage of opinions and assumptions out there. From online forums to family advice, many people approach the process with outdated or incorrect beliefs particularly when it comes to working with a mortgage advisor.

The truth is, mortgage advisors play a vital role in helping Irish homebuyers and homeowners navigate the financial side of the property market. Yet, misconceptions persist.

Let’s debunk five of the most common myths about mortgage advisors in Ireland and set the record straight.

Myth 1: “Mortgage advisors are only for people who can’t get a mortgage on their own.”

Reality: This couldn’t be further from the truth. A mortgage advisor is not a last resort they’re a first port of call for anyone who wants expert guidance, better mortgage terms, and a smoother overall process.

Even if you have straightforward income and excellent credit history, there are still dozens of lenders and hundreds of mortgage products to choose from. A mortgage advisor helps you compare options across the market and ensures you’re not leaving money on the table.

In fact, people with excellent financial profiles often benefit the most because advisors can negotiate better rates or secure cashback offers not available directly through banks.

Myth 2: “I’ll get a better deal going straight to the bank.”

Reality: It’s a common belief that bypassing an advisor saves money, but in most cases, that’s simply not true. Going directly to a bank means you’re only seeing that lender’s offers not the wider market.

A qualified mortgage advisor has access to a panel of lenders, including some who don’t deal directly with the public. This means they can compare interest rates, fees, incentives, and loan terms to find the best deal for your needs.

In many cases, the savings over the life of the mortgage through lower interest rates or reduced fees can be substantial. And contrary to another common misconception, many mortgage advisors don’t charge clients a fee, as they’re paid by the lender (with full transparency as required by the Central Bank of Ireland).

Myth 3: “Mortgage advisors only help first time buyers.”

Reality: While first time buyers are frequent clients, mortgage advisors work with a wide variety of clients at different stages of the property journey. Whether you’re:

A home mover trading up or down
Looking to switch mortgage providers to get a better rate
Investing in a buy to let or holiday home
Self employed and unsure how to structure your application
Exploring options for top ups or equity release

A mortgage advisor can help you navigate the unique challenges and opportunities in each scenario.

For instance, many people in Ireland don’t realise how much they could save by switching their mortgage even after just a few years. A good advisor will run the numbers and guide you through the process, often saving clients thousands in interest.

Myth 4: “All mortgage advisors are the same.”

Reality: Just like any profession, the quality of service and level of expertise can vary. That’s why it’s important to work with a regulated mortgage advisor someone authorised by the Central Bank of Ireland and ideally holding the Qualified Financial Adviser (QFA) designation.

A professional advisor will offer:

A thorough fact find and affordability assessment
Unbiased recommendations across a panel of lenders
Full transparency on fees, commissions, and terms
Assistance with paperwork, document gathering, and lender requirements
Ongoing support even after the mortgage is secured

Some brokers specialise in specific areas (e.g. self builds, investment properties, or foreign income), so it’s worth choosing someone with experience that matches your needs.

Myth 5: “With online applications, there’s no need for an advisor anymore.”

Reality: While digital mortgage tools and online applications have made the process more convenient, they haven’t eliminated the need for advice especially in Ireland’s highly regulated and often complex mortgage market.

Online calculators and comparison websites are useful for getting a general sense of what’s available, but they don’t account for individual circumstances like income structure, existing debt, or long term plans.

Mortgage advisors offer personalised insights, spot potential problems before they derail your application, and help you choose the right product not just the cheapest one. They can also communicate directly with underwriters and lenders to resolve issues that a computer simply can’t.

In fact, many advisors now blend technology with human expertise, offering online consultations, document uploads, and instant messaging giving clients the best of both worlds.

Final Thoughts: Mortgage Advisors Add Real Value

When you’re taking on one of the biggest financial commitments of your life, cutting corners to “go it alone” can be a false economy. A qualified, regulated mortgage advisor brings expertise, market knowledge, and personalised service that’s hard to replicate through a screen.

They don’t just get you a mortgage they get you the right mortgage, and ensure the process is as smooth, transparent, and stress free as possible.

So, if you’re planning to buy a home, switch lenders, or just explore your mortgage options, don’t let the myths hold you back. Speak with a reputable mortgage advisor and discover the value of having a true professional in your corner.