Mortgage Protection First Time Buyer Mullingar | Ferris.ie
Buying your first home in Mullingar is one of life’s biggest milestones — and arranging mortgage protection is one of the last boxes to tick before you get your keys. As a first-time buyer, mortgage protection is also one of the easiest places to overpay, because most people simply take whatever policy their bank puts in front of them. Here’s how first-time buyers in Mullingar and across Westmeath can get the right cover at the best price.
First-Time Buyers: You Don’t Have to Take Your Bank’s Policy
A common misconception among First-Time Buyers is that you must take mortgage protection from the bank providing your loan. This is not the case. Lenders require a policy before drawdown. But you have the legal right to choose your own provider.
Major banks are typically “tied” to a single insurance company, which limits your options and almost always leads to higher premiums. As a broker, Ferris Financial Planning searches the entire market. We look at every major life cover provider in Ireland — to find you a better deal.
How much does it cost?
The cost depends on your age, whether you smoke, your health, and the size of your mortgage. But the difference between providers can be surprisingly large — which is why comparison matters.
Real Savings for First-Time Buyers
The difference between a bank quote and a quote from a broker can be significant. We recently helped a client moving into Ardmore Hills on the Ardmore Road save €39 per month by shopping the market rather than accepting the bank’s default option.
Over a 25-year mortgage term, that’s €11,700 staying in their pocket — not the bank’s.
These savings are available to most homebuyers. The key is knowing you have a choice.
What Is Mortgage Protection Insurance?
New to all this? Our guide on whether mortgage protection is really needed explains the basics. This page is about getting the best price as a first-time buyer.
Why Choose Ferris Financial Planning?
As a Mullingar-based broker, we offer:
- Market-wide comparison — we check every major provider so you don’t have to
- Price matching — if a lower price exists, we’ll find it
- Local expertise — we know what Mullingar and Westmeath lenders require for a smooth drawdown
- No obligation — a quote costs you nothing
We work with you if you are first-time buyer in Ballinderry Gardens, re-mortgaging in Westmeath, or buying anywhere across Leinster. We make mortgage protection straightforward and affordable.
Ready to Save Money on your cover?
Don’t default to your bank’s option. Get in touch with Ferris Financial Planning or call 087 772 9268 to get a no-obligation quote and see exactly how much you could save.
