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Mortgage brokers

  • 14-07-2009 9:59am
    #1
    eon58
    Closed Accounts Posts: 20 ✭


    hi. i am after getting mortgage approval from my bank recently and i would also be intrested in seeing what kind of a mortage a broker would get me.... i live in cork city and was wondering if there are any charges that i would have to pay a broker or do they get paid from the bank for getting them a new customer.......any info would be a great help please


Comments

  • #2
    ntlbell
    Registered Users, Registered Users 2 Posts: 16,288 ✭✭✭✭ntlbell


    you could give your local broker a ring and ask.

    normally there is no fee, they make they're money from the banks in most cases.

    but ring yours to see how he operates.


  • #3
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,986 Mod ✭✭✭✭Moonbeam


    Try mortgages.ie,we found them good.


  • #4
    JuliusCaesar
    Registered Users, Registered Users 2 Posts: 4,885 ✭✭✭JuliusCaesar


    Skip the broker, go directly to the banks. You'll need a folder full of your documentation - they all want the same stuff, and make an appointment in each of the banks. I got offered more than the broker got for me, by two of the banks. There's also one bank/building society - can't remember which offhand - which won't deal with brokers.


  • #5
    annon123
    Closed Accounts Posts: 82 ✭✭annon123


    To be honest if you can get a good deal from a broker, go with them... i recently went directly with ebs for my mortgage thinging i would cut out the middle man. Well i can tell you here and now if i was to do it again,i wouldnt!!
    Oh my god talk about giving me the run around. About 3 or 4 different people took on my application at different stages and in the process managed to lose half the information i sent in, resulting in me resending things again. At least a broker usually deals with the one person and it usually goes a lot smoother.
    now saying that i really could have been incredibly unlucky with the numpties that were dealing with my application so perhaps take the other peoples advice on board too.
    best of luck with your application

    :)


  • #6
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    I think you will find that there has been a changed dynamic. The banks are under pressure - the lending rules are tighter and they need to do more checking to make sure they don't get stung with dud borrowers or properties. While in the past it could have been argued that there was a cost to the bank of selling mortgages themselves, they might be looking at that as a part of salary as opposed to any extra cost now.

    Consider going both routes.


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