It was announced this week that Bank of Ireland mortgages will be available through brokers from November. The proposition is being launched initially with 10 brokers based in the Dublin area, expanding beyond that on a phased basis through 2019.
The initial broker offering will provide the same product rates and offers as available through direct channels and will focus on owner occupiers for first time buyers, movers and switchers. The broker proposition will not include equity release, tracker for mover, and buy to let products.
Bank of Ireland’s intention to re-enter the broker market offering increased choice for consumers acquiring a mortgage through the broker channel was announced to the market earlier this year. Brokers will benefit from Bank of Ireland’s award winning online mortgage application system ‘Rome’, which supports the bank’s UK broker channel.
Commenting on the commencement of the broker channel, Head of Products of Bank of Ireland, John O’ Beirne said, "We announced in February that we intended to re-enter the Irish mortgage broker market later this year. This plan has progressed well and we will recommence offering mortgages through brokers from November. This will further support growth in our mortgage business and offer greater choice for consumers who choose the broker channel."
He added, "As announced previously, we are initially partnering with a select number of brokers in the Dublin region, expanding to other regions across Ireland on a phased basis next year. We are delivering a leading digital origination system for brokers by leveraging our award-winning UK platform."