Mortgage Advice

Is Mortgage Advice Regulated?

Finding the ideal mortgage for your needs can be truly a daunting task. Possessing no idea about mortgages, homeowners often turn to mortgage brokers to help them with Mortgage Advice in Mayo.

These professionals are regulated by The Financial Conduct Authority(FCA) to ensure business owners and homeowners in Ireland receive genuine advice and guidance.

This implies that both mortgage brokers and the firms that they work for must be registered with the FCA and approved to undertake certain types of business in Ireland.

Money Maximising Advisors is an award-winning financial planning firm in Ireland. We are FCA-approved, and the Central Bank of Ireland fully regulates our business. 

How Do Homeowners Benefit From Regulation?

When a mortgage broker or financial firm is being regulated by the FCA or The Financial Conduct Authority – this means the brokers are subject to a lot of rules and regulations to ensure they provide only the best solution or advice to the homeowners that are of the best interest to them.

Each mortgage broker must be adequately qualified and experienced and must keep pace with the latest knowledge in their niche.

The rules require mortgage brokers to carry out a detailed analysis of their client’s financial condition and preferences in order to recommend the best mortgage product to them. It also requires the paperwork to be completed accurately, and any advice they share should be genuine, clear and not misleading.

In tandem, mortgage brokers are also required to keep a record of their actions and activities to make sure that they are up-to-date with relevant industry information.

What Does Whole Market Mean?

Money Maximising Advisors Limited is an independent, whole of market mortgage broker. 

This implies that as a financial mortgage broker, we can deal with any lender in the UK when looking for mortgage products. So, by choosing the whole market broker, we get the maximum possible choice of lenders. 

Most mortgage brokers in Ireland are the whole of the market. However, there are advisors that only operate from a ‘panel’ or ‘shortlist’ of lenders. This means they pick their mortgage products from a limited number of mortgage companies, which automatically limits the products they pick for their clients.

How Do I Know If My Mortgage Advice Broker Is Regulated?

The Financial Conduct Authority (FCA) provides an online register where people can check to see whether their mortgage broker is regulated or not. Also, you can get in touch with FCA directly or ask your broker for proof of registration.

You can search the register by using your broker’s name or the name of their business. 

Whenever you hire a legitimate mortgage broker in Ireland, they will always have their FCA registration number displayed prominently on their website. So make sure you have your eyes open before committing to one.

Remember, though your mortgage broker is registered by the FCA, the FCA doesn’t guarantee any advice given by a registered mortgage broker. For more mortgage advice Mayo, be sure to get in touch with the Money Maximising Advisors Limited team and receive the best mortgage plan for your needs.

The FCA is established with the sole intention of regulating the mortgage industry in order to protect consumers in Ireland from scrupulous practices while protecting their financial interests. Therefore, when searching for the best mortgage product, it is crucial to hire a mortgage broker that is regulated by the FCA. This will ensure that you receive the highest quality advice and guidance, aiding you to make informed decisions and get the most out of your investment.

Closing Thoughts

We know how important it is for you to choose the right mortgage. It is a major financial decision, and it’s easier when you get expert mortgage advice Mayo and a professional advisor by your side. You can always get in touch with expert mortgage advisors of Money Maximising Advisors Limited and pick the best possible mortgage choice. 

For more information, please visit Money Maximising Advisors Limited and start your online application today!

Talk to us at +353 91 393 125

Mail us at

Or visit our office at Unit 3, Office 6, Liosban Business Park, Tuam Rd, Galway, Ireland

Read Also- What Are The Responsibilities Of A Mortgage Broker?


About Author

Related posts