Are mortgage brokers interested in mortgages less than €100k

[Brendan Burgess]

Someone applying for a switch recently told me that brokers were not interested as they had a mortgage of only €80k.

It was a self-employed case, so there might have been a fair bit of work involved.

I hadn't thought of it before, but I can see why a broker would not get involved for a potential fee of 1% or €800 as it would involve a lot of work, and the borrower might decide not to switch in the end.

I presume that a civil servant looking to borrow €500k would be much more welcome than a self-employed person borrowing €80k.

Brendan

 

[Gordon Gekko]

A 10 year personal loan with a bank or a credit union would probably work.

 

[Steven Barrett]

It is the same as any type of business, if you are busy, you turn away the smaller cases for the bigger ones. And mortgage for that amount may be just as much/ more work than a case involving a higher payment. They are best finding a broker who has just set up by themselves and doesn't have the work flow of steady client yet.

*and as far as I am aware, mortgage brokers get 2%. It's a very lucrative business.

 

[RedOnion]

*and as far as I am aware, mortgage brokers get 2%. It's a very lucrative business.

1% is standard across the market.