BINS Accepting Mortgage Applications for Nua Money

Dear Member,

Brokers Ireland Mortgage Services is pleased to announce that we are now accepting mortgage applications for Nua Money. This addition enhances our existing partnerships with The Mortgage Store, powered by The Bank of Ireland, Haven Mortgages, ptsb, Finance Ireland, and Dilosk/ICS. This development significantly broadens the options available to your clients by offering a comprehensive selection of mortgage products, diverse rate choices, and incentives such as cashback.

Our library system offers an extensive collection of documents for each lender, which can be accessed through the category drop-down menu. Here, you will find specific lenders’ salary certificates, application forms, customer declarations, and original document views. We recommend logging in and selecting the library tab to explore these resources. Moreover, we have included a section for lender calculators, providing access to the latest tools. Any password-protected calculators will have their access passwords indicated (note there is no calculator available for Nua as system generated)

It is important to note that Nua are a new lender with new policies, which we will be highlighting in the coming weeks in more depth but they include.

• Up to age 75 for those with a pension
• Bonus income – 65% of this year and 35% last year (up to 90pc basic)
• 2 years clear secured debt
• 10pc uplift for newly qualified professionals (specified list)
• 250k unencumbered property release (specific products and rates and criteria)
• Dublin max loan 1.5m, Cork 1.25m and 1m elsewhere on house purchase
• 3 months residency for non-EEA nationals on specific residency stamps
• No PRA – 50pc or valid reason such as sick leave, maternity etc for those with less
• Children’s allowance, domiciliary care allowance and widows pension taken for income and child maintenance if agreement supplied

(all above subject to full credit review)

As we start working with Nua and submit applications to lenders, it’s important to consider the buyer’s status. If your client has found a property, submit the application with details and loan amount. For clients seeking pre-approval but haven’t chosen a property, you should consider applying for the maximum amount they can afford. Approving a lesser amount initially may require re-keying later, affecting administration, turnaround times, and the customer’s mortgage experience.

We are soon to release our new criteria quick guides, offering a general overview of products tailored to each borrower type, highlighting standard parameters for each lender and their policies. Additionally, we will be hosting an online seminar focused on packaging, which aims to help you present mortgage applications in line with bank standards, thus improving all applications from the start. More information will be shared early in 2025.

If you are new to Brokers Ireland Mortgages and would like more information on what services we provide please email us at info@brokersirelandmortgages.ie

If you are existing member and wish to get your login details, please contact the team at info@brokersirelandmortgages.ie

If you wish to add other staff to our mailing list or be removed for our mailing list, please email us at info@brokersirelandmortgages.ie

Brokers Ireland Mortgage Services offers a packaging service to help you reach lenders with whom you do not currently have an agency. We charge a €450 fee upfront per application and transfer the full commission from the lender after the drawdown.

Queries on non-applications is a separate service which is subject to an annual subscription of €500.  To avail of this service in 2025 please email myself directly and we can arrange an invoice to get you set up!

If you have any questions about the content of this email, please contact me directly via email at Kimberley@brokersirelandmortgages.ie or by phone at 085 837 5602.