How do you decide on which mortgage to select?

Which mortgage option would you pick?

  • Bank A - 3.8% track record of not passing on cuts. Offer 2% cash back but clawback within 5 years

    Votes: 0 0.0%
  • Bank B - 3.3% committed to passing on cuts. Offer 2k assistance with fees with 2 year clawback

    Votes: 0 0.0%
  • Bank C - 3.1% track record of not passing on cuts. Offer 2k assistance with fees with 2 year clawbac

    Votes: 0 0.0%
  • Rate not that important - other factor determines decision

    Votes: 0 0.0%

  • Total voters
    3

gnf_ireland

Registered User
Messages
1,441
I was talking to my brother this afternoon about mortgage options as he is currently in the process of buying a house. He told me he had only applied to one bank, because previous experiences with other banks were not positive. This bank does not have a great track record for treating mortgage customers fairly, so I was surprised by his comments.

It got me thinking - what are the key drivers people have when they apply for a mortgage? What makes people select one bank over another?

Do people apply to all and see what the maximum amount they will get is, or do people apply to a subset only?
Is interest rate charged a factor, or does that only come at the very end?
Do they go with a brokers advice?

etc etc

Personally, when I applied in 2010/11 for a mortgage, I applied to my own bank directly and to all others via a broker. At that time getting a mortgage was difficult for a self-employed person, so it was 100% about which bank would actually give me any money !
 
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