Mortgage Rates

The Troll

Who's the best to go with at the moment?

I've been advised to go to a mortgage broker, but amn't sure where to get the best deal.

Kinetic^

try Frank Lenny on sth william street, D2.

Was very helpful to me when getting my mortgage, they're a website too.

FreeAnd..

For a broker try Martina Hennessy at Mortgage horizons on Merrion Square. Was excellent in helping me get a mortgage and extremely helpful and informative. Go from there when deciding on rates and mortgage.

CCOVICH

The Troll wrote:

Who's the best to go with at the moment?

I've been advised to go to a mortgage broker, but amn't sure where to get the best deal.

Who advised you to go with a broker? Brokers may be able to get you longer terms or more money, I don't think that you'll get better rate going through a broker. If you are earning enough to qualify for the mortgage you want without the help of a broker, I'd go directly to the bank in question.

Some brokers may be able to offer you discounted life assurance and legal fees, but don't let that distract you from the rate that you are being quoted.

Check out the 'Best buys' secion of www.askaboutmoney.com for a comparison of the different rates available. There is a comprehensive listing of providers and rates in the Business supplement with tomorrow's Irish Times.

Best of luck.

FreeAnd..

I've been advised to go to a mortgage broker, but amn't sure where to get the best deal.

A mortgage broker can inform you of all the rates for all the banks at various terms + what affect interest rate increases will have on your repayments without you having to go to all the banks individually.

Who advised you to go with a broker?

Pretty sound advice if you don't know where to get the best rates dont you think?

Also check out finfacts.ie

CCOVICH

FreeAnd.. wrote:

A mortgage broker can inform you of all the rates for all the banks at various terms + what affect interest rate increases will have on your repayments without you having to go to all the banks individually.

You can do this on spreadsheet yourself (it's not that hard) or even better, lash the figures into Karl Jeacles Mortgage Calculator and you'll be able to judge what effect interest rate increases will have on your repayments. The only mortgages that anyone can predict what effect interest rate increases will have on your repayments are trackers, as these are linked to the ECB rates. Fixed and variable rates are raised/lowered at the discretion of the lender.

Brokers may not necessarily inform you of all the options in the marketplace, certain brokers may only deal with certain lenders, and wil not promote the products of those lenders that they do not deal with. Certain brokers are totally independent, and will discuss this option that is best for you, but these are fee-based, and so you may have to pay for the advice. The advantage is that you are getting independent, 'best advice'.

FreeAnd.. wrote:

Pretty sound advice if you don't know where to get the best rates dont you think?

Also check out finfacts.ie

Maybe, it depends, I didn't say it was 'bad' advice, I merely asked who gave the advice (did they have any interest in recommending a broker, or had they any previous experience of using a broker?)

I posted a link to rates available, and they were also published in yesterday's Irish Times. Also, if you're willing to do a bit of footwork, browsing, or spend time on the phone, you will be able to get the rates and offers yourself.

johnnyrotten

The Ulster bank Switcher is hard to beat.The rate is 2.95% tracker. Its will never go 0.95% above the ECB rate for the duration of the term. You can change from your existing mortgage to them at no cost. i.e. they pay all fees including valuation and SOLICTORS fees provided you stay with them for at least 5 years.
No , I don't work for Ulster bank. I've just taken up the deal!:)

FreeAnd..

How does switching mortgages work? I havent really looked into it in detail as I have only just gotten a mortgage and will not be drawing down for another while yet. If you are on a standard variable rate with one institution can you change, say to a tracker mortgage with another institution or are you limited to go with the corresponding package i.e if you had a standard variable with Ulster bank can you only switch to the standard variable rates with all other institutions or is it opene enough to switch a=to any of the other rates available?

GreeBo

johnnyrotten wrote:

The Ulster bank Switcher is hard to beat.The rate is 2.95% tracker.

Is that an introductory rate for 12 months or what?