has anyone heard of www.rea.ie

kluivert

Has anyone heard of the above mortgage brokers.

Spotted it while looking at propertyfile.net

They basicly state that they fund the commission they earn on providing with a mortgage in return for a fixed fees and they include solicitors costs in the fixed fee.

That cant be bad can it?

chump

Have heard of them quite a bit. Good reputation.

whizzbang

Yep, one of them posts over on Askaboutmoney.com seems to know her stuff.

http://www.askaboutmoney.com/member.php?u=129

ircoha

The devil is in the detail here:
This is from their site:

REA Mortgage Services are changing the way mortgages are
arranged in Ireland. The REA Homebuyer Package

A professional service that shops for your mortgage
and provides all the help and support you need
abolishes high legal fees refunds
to you any commission paid by the bank or building society.

This not quite what is in the OP.

However, the question is what constitutes commission?

Eg: on a XXXk mortgage, I the bank, can pay the broker 100 commission and 500 towards costs....

Also I presume the legal fees here are the lenders fees, not the buyers?

bigred

I bought my first house through them in 2000 (referred by a colleague) and again when we moved last year. Cant fault them. Back in 2000 they were great at getting a good mortgage (remember the old rules of 2.5 times your salary) nowadays they're a good bit bigger, but on the whole, we were pleased again - managed to fix some bank fcuk ups (bank lost our docs, changed their mind about bridging...). Their advice was always black and white. Always nice to get a cheque for EUR3000 6 weeks after you move into your new house.

If you're calling, ask to deal with Mike Block - he knows his stuff.

thegreek15

REA are brilliant... without them we would still be trying to buy a house and sort out the million things involved in it. From day 1 their support was great, always on the other end of the phone/email with advice etc. Highest recommendation without doubt.

TommyK

kluivert wrote:

Has anyone heard of the above mortgage brokers.

Spotted it while looking at propertyfile.net

They basicly state that they fund the commission they earn on providing with a mortgage in return for a fixed fees and they include solicitors costs in the fixed fee.

That cant be bad can it?

I recall an American guy on some RTE programme last year. It was a regular property programme and I'm pretty sure he worked for REA in some way (or maybe the programme was sponsored by REA.) Can't remember the name though.

Tommy.

kluivert

Thanks guys ill give them a call later and find out more about there services.

Just wanted to see if they are as well know as they let on to be.

bullrunner

Am dealing with them at the moment. They dont seem to be especially brilliant for me....their advice is not especially good...they recommended getting a tracker mortgage with AIB...i pointed out that I thought that was a bad idea as interest rates are rising and look set to rise for the next year and a half...then they suggested a 1 year fixed rate (Again with AIB..even though NIB had a better rate at the time). Now they are claiming to have sent me more documentation to fill out..which I never received.

Also I was dealing with their life assurance guy..he said he'd get the best deal on the market for me and send me out the info. Only got an application form for Irish Life...no details of what cover it was for or even how much it was !!!....I asked for this info (and a comparison of the other policy costs from other insurers) and was told I would be sent it. Again never got it..did a bit of checking around (labrokers.ie) and found a good rate...again asked REA about their rates ...and eventually got a price off them...which was 13% (only 4 euro) more exp....but the other broker also gives a big discount for the first year (around 40-50%) if you pay in full.

They never mentioned the 'refund of commissions' to me...if anybody has a link for this please post or pm me.

kluivert

www.propertyfile.net

bullrunner

The b*astards never told me they charge a fee!!