Understanding the mortgage process

As part of our series of guides to help you, here you’ll find our guide to understanding the mortgage process, offering buyers invaluable insight and advice. You’ll see what lies ahead, from initial appointment right through to signing contracts and getting the keys to your new home.

 Our guide will help you to 

  • Find out all you need to know about preparing and submitting a mortgage application
  • Understand the ‘approval’ process in full
  • Gain a complete insight in to the regulatory, legal and administrative aspects of applying for, and securing the right  mortgage for you

We’ll also detail specific aspects of the mortgage process from letting you know what to expect at your first appointment to explaining aspects like the ‘sale agreed’ stage, signing contracts, and much more.

At Sherry FitzGerald Mortgages, we’re with you every step of the way. Review our guide and if you have any queries, to get in touch today.

Mortgage Calculator

Please be advised that the calculator is for indicative purposes only
Minimum Cash Deposit Required ? €0
Max First Home Scheme Available €0
Loan Amount €0
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Your Mortgage Results

Cash deposit
€
Help To Buy Scheme
?
€
Total deposit ?
€
Monthly Repayments
in the 1st Year ?
€
With the 5-year fixed rate default rate, Year 1-5 payments will remain the same. If an alternative rate is selected, repayments will vary. No First Home Scheme Service Charge is applicable in Year 1-5. From Year 6 onwards a First Home Scheme Service Charge will apply.
Monthly Repayments
€
Household Salary Required
€

This calculator is for illustrative and guidance purposes only.

The amount you can borrow will depend on your individual circumstances and is subject to lending criteria, terms and conditions.

The limits applied can vary so it is important to contact us to discuss your options.

For full terms, please click here.

Above illustration based on 5 year fixed rate of 4.0% (APRC 4.1%)

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Terms and Conditions

  • Illustrations are based on a 5 Year Fixed rate of 4.0% (APRC 4.1%) This rate will revert to the standard variable rate which is currently 4.5% (APRC 4.6%) after 5 years.
  • Minimum Loan Amount is €250,000.
  • No cashback available with this rate.
  • Maximum Loan to Value (LTV) 90%.
  • Central Bank deposit rules require a minimum deposit of 10% for First Time Buyers and second/subsequent buyers (not applicable for Switcher mortgages).
  • The Loan-to-Income limit restricts the amount of money you can borrow to a maximum of 4 times gross income for First Time Buyers and 3.5 times gross income for second/subsequent buyers.
  • New customer business only.
  • With the Help to Buy Scheme for First Time Buyers of new houses, a tax rebate of up to 10% (subject to an upper limit of €30,000) of the purchase price is potentially available on properties costing €500,000 or less. (Revenue Terms & Conditions apply).
  • First Time Buyers of second-hand houses will need to fund the 10% deposit themselves.
  • Rates correct as at 14.04.2023

WARNING: IF YOU DO NOT MEET THE REPAYMENTS ON YOUR LOAN, YOUR ACCOUNT WILL GO INTO ARREARS. THIS MAY AFFECT YOUR CREDIT RATING, WHICH MAY LIMIT YOUR ABILITY TO ACCESS CREDIT IN THE FUTURE.

WARNING: IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME.

WARNING: YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED RATE LOAN EARLY.

WARNING: THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE.

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages is regulated by the Central Bank of Ireland.

Terms and Conditions

  1. Illustrations are based on a 5 Year Fixed rate of 4.0% (APRC 4.1%) This rate will revert to the standard variable rate which is currently 4.5% (APRC 4.6%) after 5 years.
  2. Minimum loan amount is €250,000.
  3. No cashback available with this rate.
  4. Central Bank deposit rules require a minimum deposit of 10% for First Time Buyers and second/subsequent buyers (not applicable for Switcher mortgages).
  5. The Loan-to-Income limit restricts the amount of money you can borrow to a maximum of 4 times gross income for First Time Buyers and 3.5 times gross income for second/subsequent buyers.
  6. Maximum Loan to Value (LTV) 90%.
  7. New customer business only.
  8. With the Help to Buy Scheme for First Time Buyers of new houses, a tax rebate of up to 10% (subject to an upper limit of €30,000) of the purchase price is potentially available on properties costing €500,000 or less. (Revenue Terms & Conditions apply).
  9. The First Home Scheme will finance up to 30% of your new property, this will reduce to 20% for those who are participating in the Help to Buy Scheme.
  10. The First Home Scheme is only available for newly built houses or apartments in a private development in the Republic of Ireland.
  11. The First Home Scheme is only available for properties intended as the homebuyers Principal Private Residence.
  12. Participating Lenders do not advise or consult with homebuyers on the Terms and Conditions of the First Home Scheme. Please visit www.firsthomescheme.ie for full Terms and Conditions.
  13. Rates correct as at 14.04.2023

WARNING: Property prices can go up and down. As the equity facility is linked to the value of your home, any change in property prices will affect any partial or final redemption amounts. If property prices increase/decrease over time, the percentage equity you have to redeem will remain the same but the € amount will increase/decrease. See example in the case of a price increase below:

Customer purchases a property for €250,000, availing of €25,000 from the First Home Scheme (FHS) which means the FHS has a 10% FHS equity share in your home.

Sometime in the future you decide to buy out the FHS equity share. The home is now valued at €350,000. As the FHS equity share is unchanged at 10%, you will now need €35,000 plus any accrued service charges payable, to redeem the FHS equity share in the home.

WARNING: The First Home Scheme is not regulated by the Central Bank of Ireland and the equity product is not governed by the Central Bank and its statutory codes of conduct and/or other regulations to include the Consumer Protection Code.

Therefore, no enforceable consumer protections will apply.

WARNING: The provision of this product or service does not require licensing, authorisation, or registration with the Central Bank of Ireland and, as a result, it is not covered by the Central Bank of Ireland’s requirements designed to protect consumers or by a statutory scheme.

Mortgage Insight DAC t/a Sherry Fitzgerald Financial Services, Sherry FitzGerald Mortgages is regulated by the Central Bank of Ireland.

Help to Buy Scheme rebate

If you are a first time buyer who has paid income tax or Dirt Tax in Ireland in the past 4 years you can apply to claim back up to €30,000 of the purchase price of a new home, with the Help to Buy Scheme How to apply and details of revenue eligibility requirements. This calculator will show the maximum rebate obtainable as an indication. If you use the Help to Buy Scheme the maximum First Home Scheme share available is reduced to 20% of the purchase price.

Minimum Cash Deposit

A booking deposit will be required to reserve a new home. This will usually be €5,000 – €7,000. The Help to Buy Scheme allowance can be up to €30,000. Each applicant will be advised of their own allowance.

First Home Scheme

The First Home Scheme is a government affordable housing scheme based on the equity share model. The scheme can be used to finance up to 30% of your purchase of a newly built property. There are property price ceilings set across Ireland, by local authority area.

Home buyers will receive funds from a participating bank in return for the First Home Scheme taking a percentage ownership in the property purchased. This is known as an equity share. There is no charge for the first 5 years.

For more information on the Shared Equity Scheme, please visit here. If you are using the FHS, you must have senior mortgage approval with the Participating Mortgage Lenders at the maximum 4 x Loan to Income (LTI)

First Time Buyer

As a non-First Time Buyer, you may still be eligible to use the First Home Scheme. Please click here to check if you are eligible, or contact our Financial Service team for further advice.

Loan Amount Less Shared Equity

This is the loan amount less the Shared Equity of 20% and the deposit of 10% which can include the Help to Buy Scheme.

County Council

Each region across Ireland will have a Shared Equity Scheme price cap applied. By entering your local County Council we are able to help calculate your estimated results for your region. For more on the regional price caps, please visit here.

Total deposit

10% of the purchase price that must be paid on signing of contracts (less any booking deposit already paid).

Help To Buy Scheme

If you are a first time buyer who has paid income tax or Dirt Tax in Ireland in the past 4 years you can apply to claim back up to 10% of the purchase price of a new home, up to a maximum of €30,000, with the Help to Buy Scheme How to apply and details of revenue eligibility requirements. This calculator will show the maximum rebate obtainable as an illustration.

If you use the Help to Buy Scheme the maximum First Home Scheme share available is reduced to 20% of the purchase price.

MONTHLY REPAYMENTS IN THE 1ST YEAR

First Home Scheme Service Charges apply from the beginning of the sixth year of ownership of a property, if the equity share is still in place.

Monthly Repayments in Year 6 Onwards

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Financial expertise from a specialist provider

Our Sherry FitzGerald Mortgages division can give you expert financial advice at every stage of your property process. From mortgages and life insurance to investments and pensions, and more, we’re with you every step of the way.

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Charges

Our Charges

We, Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages act as intermediary (Broker) between you, the consumer, and the product provider with whom we place your business.

The background

Pursuant to provision 4.58A of the Central Bank of Ireland's September 2019 Addendum to the Consumer Protection Code, all intermediaries, must make available in their public offices, or on their website if they have one, a summary of the details of all arrangements for any fee, commission, other reward or remuneration provided to the intermediary which it has agreed with its product producers.

What is commission?

For the purpose of this document, commission is the payment earned by the intermediary for work undertaken on behalf of both the provider and the consumer. The amount of commission is generally directly related to the quantity or value of the products sold.

We are remunerated by commission and other payments from product producers. When assessing products, we will consider the different approach taken by product providers in terms of them integrating sustainability risks into their product offering. This will form part of our analysis for choosing a product provider.

Our Brokerage commission options are displayed as a range, showing the maximum amount which can be received. The level of commission depends on individual circumstances, based on the following factors:  

The factors that may impact a variation in charges include;

  • Client segmentation
  • Adviser discretion
  • Competitive pressures
  • Investment/pensions/saving size
  • Schemes size
  • Term/timeline of a policy or service
  • Complexity of advice
  • Preferential terms in the market, available to a Brokerage & client at the time

There are different types of commission models:

Single commission model: where payment is made to the intermediary shortly after the sale is completed and is based on a percentage of the premium paid/amount invested/amount borrowed. 
Trail/Renewal commission model: Further payments at intervals are paid throughout the life span of the product.
Indemnity commission Indemnity commission is the term used to describe a commission payment made before the commission is deemed to be 'earned'. Indemnity commission may be subject to a clawback (see below) if the consumer lapses or cancels the product before the commission is deemed to be earned.

Other forms of indemnity commission are advances of commission for future sales granted to intermediaries in order to assist with set up costs or business development.

General insurance products

General insurance products, such as home insurance, are typically subject to a single or standard commission model, based on the amount of premium charged for the insurance product.

Life Assurance/Investments/Pension products

For Life Assurance products commission is divided into initial commission and renewal commission (related to premium), fund based or trail relating to accumulated fund.

Trail commission, bullet commission, fund based or renewal commission are all terms used for ongoing payments. Where an investment fund is being built up though an insurance-based investment product or a pension product, the increments may be based on a percentage of the value of the fund or the annual premium. For a single premium/lump sum product, the increment is generally based on the value of the fund.

Examples of products include Life Protection, Regular Premium Life Assurance Investments, Single Premium (lump sum) Insurance-based Investments, and Single Premium Pensions.

Investments

Investment firms, which fall within the scope of the European Communities (Markets in Financial Instruments) Regulations 2007 (the MiFID Regulations), offer both standard commission and commission models involving initial and trail commission. Increments may be based on a percentage of the investment management fees, or on the value of the fund.

Mortgages

Commission may be earned by intermediaries for arranging credit for consumers, such as mortgages. The single, or standard, commission model is the most common commission model applied to the sale of mortgage products by mortgage credit intermediaries (Mortgage Broker).

Clawback

Clawback is an obligation on the intermediary to repay unearned commission. Commission can be paid directly after a contract is concluded but is not deemed to be €˜earned' until after a specified period of time. If the consumer cancels or withdraws from the financial product within the specified time, the intermediary must return commission to the product producer.

Please Note

The enclosed commission guidance section gives indicative values across every product provider and every product advised whereby a commission or fee is received within our business. This is the maximum we will take and is subject to change, in certain cases we may take a different remuneration than the enclosed percentages/amounts. This will be disclosed to each client as per the Central Bank Consumer Protection Code regulations, on a client by client basis.

Other Fees, Administrative Costs/ Non-Monetary Benefits

Mortgage Insight DAC t/a Sherry FitzGerald Financial Services, Sherry FitzGerald Mortgages may also be in receipt of non-monetary benefits such as:

  • Attendance at product provider seminars
  • Assistance with Advertising/Branding

Further detail on the providers we work with, the products we sell and the maximum commissions available to us are outlined below.

Allianz Plc.

Home and Contents Insurance

Typically for this product only an annualised commission is paid out. There can be cases whereby an additional admin or service fee is required, which is disclosed and agreed by the client(s).

Product Commission %
Fire Only 20%
HHR Combined House Insurance 20%
HPR Personal lines household 15%
HYR Holiday Home ROI 15%

Aviva Life & Pensions Ireland DAC

Term Life Protection

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Term Protection 140% 22% 24

Single Premium PRSA

Product Initial % Recurring %
Single Premium PRSA 4% 0.5%

Specified Illness

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Specified 140% 22% 24

Personal Retirement Savings Account RP (PRSA)

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA's.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Regular Premium PRSA 22.5% 0.5% 48

Personal Retirement Bond (PRB)

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission %
PRB 5.25% 1%

Mortgage Protection

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Mortgage Protection 140% 22% 24

Income Protection

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Income Protection 200% 30% 48

Defined Contribution Pension

A Defined Contribution Product typically provides for an Initial Commission as outlined below.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Regular Premium pension 20% 1% 48
Single premium pension 5.25% 1% -

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

 

Product Initial % Recurring Commission %
ARF 5.25% 1%

Bank of Ireland

Mortgage Switcher

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Switcher 1% 36

Second and Subsequent Time Buyers

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Second/subsequent Buyer 1% 36

First-Time Buyer

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - First-Time Buyer 1% 36

Equity Release

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Equity Release 1% 36

Finance Ireland

Mortgage Switcher

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Switcher 1% 36

Second and Subsequent Time Buyers

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Second/subsequent Buyer 1% 36

First-Time Buyer

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - First-Time Buyer 1% 36

Equity Release

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Equity Release 1% 36

Friends First

Single Premium PRSA

Product Initial % Recurring %
Single Premium PRSA 7.5% 0.25%

Personal Retirement Savings Account RP (PRSA)

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA's.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Regular Premium PRSA 17.5% 0.25% 48

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

 

Product Initial % Recurring Commission %
ARF 5% 0.75%

Haven

Mortgage Switcher

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Switcher 1% 36

Second and Subsequent Time Buyers

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Second/subsequent Buyer 1% 36

First-Time Buyer

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - First-Time Buyer 1% 36

Equity Release

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Equity Release 1% 36

ICS/dilosk

Mortgage Switcher

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Switcher 1% 36

Second and Subsequent Time Buyers

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Second/subsequent Buyer 1% 36

First-Time Buyer

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - First-Time Buyer 1% 36

Equity Release

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Equity Release 1% 36

Irish Life Assurance plc

Term Life Protection

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Term Protection 120% 28% 60

Single Premium PRSA

Product Initial % Recurring %
Single PRemium PRSA 5% 0.75%

Specified Illness

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Specified 120% 28% 60

Personal Retirement Savings Account RP (PRSA)

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA's.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Renewal Clawback Period (Months)
Regular Premium PRSA 17.5% 0.5% 5% 48

Personal Retirement Bond (PRB)

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission %
PRB 5% 0.75%

Mortgage Protection

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Mortgage Protection 100% 28% 60

Income Protection

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Income Protection 130% 30% 60

Defined Contribution Pension

A Defined Contribution Product typically provides for an Initial Commission as outlined below.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Renewal Clawback Period (Months)
Regular Premium pension 17.5% 0.5% 5% 48
Single premium pension 5% 0.75% - -

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

 

Product Initial % Recurring Commission %
ARF 5% 0.75%

Independent Trustee Company Limited

Personal Retirement Savings Account RP (PRSA)

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSA's.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial %
PRSA 2%

Personal Retirement Bond (PRB)

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial %
PRB 2%

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

 

Product Initial %
ARF 2%

KBC

Mortgage Switcher

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Switcher 1% 36

Second and Subsequent Time Buyers

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Second/subsequent Buyer 1% 36

First-Time Buyer

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - First-Time Buyer 1% 36

Equity Release

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Equity Release 1% 36

New Ireland Assurance Company plc

Term Life Protection

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Term Protection 150% 50% 60

Single Premium PRSA

Product Initial % Recurring % Clawback Period
Single Premium PRSA 7% 0.5% 60

Specified Illness

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to clawback some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Specified 150% 50% 60

Personal Retirement Savings Account RP (PRSA)

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSAs. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Renewal Clawback Period (Months)
Regular Premium PRSA 25% 0.5% 6% 60

Personal Retirement Bond (PRB)

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
PRB 5% 1% 60

Mortgage Protection

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Mortgage Protection 150% 50% 60

Income Protection

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Income Protection 130% 50% 60

Defined Contribution Pension

A Defined Contribution Product typically provides for an Initial Commission as outlined below.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Renewal Clawback Period (Months)
Regular Premium pension 25% 1% 8% 60
Single premium pension 5% 1% - 60

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

 

Product Initial % Recurring Commission %
ARF 5% 1%

PTSB

Mortgage Switcher

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Switcher 1% 36

Second and Subsequent Time Buyers

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Second/subsequent Buyer 1% 36

First-Time Buyer

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - First-Time Buyer 1% 36

Equity Release

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Equity Release 1% 36

Royal London Insurance DAC

Term Life Protection

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Term Protection 225% 36% 60

Specified Illness

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Specified 225% 36% 60

Mortgage Protection

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Mortgage Protection 225% 36% 60

Income Protection

An Income Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Income Protection 225% 60% 60

Ulster bank

Mortgage Switcher

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Switcher 1% 36

Second and Subsequent Time Buyers

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Second/subsequent Buyer 1% 36

First-Time Buyer

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - First-Time Buyer 1% 36

Equity Release

Credit intermediation with respect to Mortgages allows for an initial once off upfront commission to remunerate a Brokerage based on the advice, service and packaging of a mortgage. If a client switches or ceases to pay a Mortgage repayment with the clawback period, the Brokerage will receive a pre agreed pro rata clawback within the below timeframes.

Product Commission % Clawback Period (Months)
Mortgage - Equity Release 1% 36

Zurich Life Assurance plc

Term Life Protection

A Term Life Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Term Protection 160% 12% 12

Single Premium PRSA

Product Initial % Recurring %
Single Premium PRSA 5% 0.75%

Specified Illness

A Specified Illness Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Specified 160% 12% 12

Personal Retirement Savings Account RP (PRSA)

A Personal Retirement Savings Account or PRSA typically provides for an Initial Commission as outlined below with certain restrictions around PRSAs. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Renewal Clawback Period (Months)
Regular Premium PRSA 30% 0.75% 5% 48

Personal Retirement Bond (PRB)

The Pension Retirement Bond typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission %
PRB 5% 0.5%

Mortgage Protection

A Mortgage Protection Product provides for an initial commission as outlined below. These policies have an inbuilt recurring commission structure to remunerate the Brokerage for reviews, service and claims support. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to 'clawback' some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Clawback Period (Months)
Mortgage Protection 160% 40% 12

Defined Contribution Pension

A Defined Contribution Product typically provides for an Initial Commission as outlined below.  Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

Product Initial % Recurring Commission % Renewal Clawback Period (Months)
Regular Premium pension 20% 0.5% 3% 48
Single premium pension 5.5% 0.5% - -

Approved Retirement Fund (ARF) & Approved Minimum Retirement Fund (AMRF)

An ARF / AMRF Product typically provides for an Initial Commission as outlined below. Brokerages may also agree with a client a recurring commission that may be based on a percentage of the value of the fund or the annual premium. If for some reason a client moves or terminates their policy within a particular period of time, this might result in the provider seeking to "clawback" some or all of the commission paid to the broker, depending on how long the policy was active with the provider.

 

Product Initial % Recurring Commission %
ARF 5% 0.5%
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mySherryFitz
Sherry FitzGerald Limited PSRA Licence No 002183, Sherry FitzGerald Countrywide Limited PSRA Licence No 001628