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Mortgage Brokers

  • 26-02-2015 3:51pm
    #1
    MetHerInSolas
    Registered Users, Registered Users 2 Posts: 122 ✭✭


    Mortgage brokers don't charge you, they get their fee off the banks?

    Thats correct?


Comments

  • #2
    seamus
    Registered Users, Registered Users 2 Posts: 68,317 ✭✭✭✭seamus


    Not anymore, it depends now.

    It used to be, back in the boom times, because banks wanted as many loans in as they could.

    That said, any broker who wants payment before they secure a solid loan offer from a bank should be avoided. At most they should be looking for payment when they get you a loan offer, but some won't look for payment until you draw down.


  • #3
    tippgod
    Registered Users, Registered Users 2 Posts: 225 ✭✭tippgod


    we are seeing a broker at the moment ourselves. Right at the start he explained how his fees go and basically we still get the same rate off the banks which ever we go to but he gets a small percertage of a kickback from the banks. technically it costs us nothing as our rate doesnt change. He is showing us every bank rate up front and letting us pick which one except for BOI as they dont deal with brokers.
    Friends went through him the full way and found no issues and recommended him too us.


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