ARRANGING a hank loan by telephone is well established at this stage, but how many people would fancy taking out a £50,000 mortgage entirely over the Irish Permanent has decided there is a market for such a service which it is calling `Mortgage Just Call'. The entire process from initial inquiries through to approval can be arranged without any branch visits, says the Permanent. Only one visit is required to pick up the cheque.

Although anyone can use the service it is aimed mainly at second and third time buyers who are familiar with the loan application process and know that there is no big mystery to filling out the forms, so long as you are well organised and can provide all the relevant information about your finances and repayment ability. After that it is just a matter of waiting for the property and legal paperwork to be done perhaps no more than a week, we were told.

The service has been designed to facilitate people for whom time is all important, said the Irish Permanent spokesperson who added that it would he ideal for existing customers who are changing properties since the company would already be quite familiar with their financial circumstances.

Unlike the direct banking services, Mortgage Direct Call does not require minimum age, credit or borrowing conditions. The interest rate being charged is also exactly the same as for customers who arrange their loans in person.

Disadvantages? Some people might suggest that taking out a mortgage is something that should he done alter much care and consideration. But quite frankly, once the borrower is confident that the lending deal is a competitive one, the hardest part is ploughing through the different forms that the Permanent will send out. First time buyers who usually need a hit of advice in such matters, are probably better off arranging their first mortgage loan face to ace.