Can I apply to my bank for a mortgage even though broker has applied already for me?

[brokeagain]

Hi,

I want to compare what my own bank allows me for a mortgage and what a broker can get for me from the same bank. Can I apply through the broker and again directly by myself??

 

[TLC]

Re: Can I apply to my bank for a mortgage even though broker has applied already for

If you have doubts check with the bank - why not check with a couple of them while you are at it - you can do what you like!

 

[Kine]

Re: Can I apply to my bank for a mortgage even though broker has applied already for

My personal experience when I was buying my place was that the broker (as it was in the boom) wasn't massively interested in getting me the best deal. I felt I could get better terms, went to the bank whom the broker had gotten approval and got much better terms direct from the bank.

A little sneaky, yes, but saved me €000's, most definitely.

 

[Yellow Belly]

Re: Can I apply to my bank for a mortgage even though broker has applied already for

My personal experience when I was buying my place was that the broker (as it was in the boom) wasn't massively interested in getting me the best deal. I felt I could get better terms, went to the bank whom the broker had gotten approval and got much better terms direct from the bank.

A little sneaky, yes, but saved me €000's, most definitely.

MUCH better? In what regard?

Rate?

Which bank was that with.

Can you ellaborate on this to enlighten us further.

 

[Yellow Belly]

Re: Can I apply to my bank for a mortgage even though broker has applied already for

Hi,

I want to compare what my own bank allows me for a mortgage and what a broker can get for me from the same bank. Can I apply through the broker and again directly by myself??

You certainly do have the right to have your own bank assess your application. If you have any doubts speak to someone directly there and you are also entitled to have your documentation returned from the broker if you need this to submit a further application.

 

[Kine]

Re: Can I apply to my bank for a mortgage even though broker has applied already for

Can you ellaborate on this to enlighten us further.

Shorter fixed term, legal fess paid and a few other things I'm not ging to elaborate on. As I mentioned, saved myself quite a few shillings at the time, and will be saving myself even more as soon as my fixed term finishes (of course, had interest rates jumped to 10% I'd wish I had the 5 year fixed, but it wasn't what I wanted at the time!).

The broker I went through was just a bit apathetic towards the whole process, rarely returned calls etc so I got got cheesed off with them. For any future moves I go to make I'll leave out the broker (middleman) and just do the work myself. More time consuming, yes, but at least I'll feel a little more in control of the situation.

But returning to the OP's point and other responses, yes, always double check everything as you never know how much money you could end up saving.

 

[Gordanus]

Re: Can I apply to my bank for a mortgage even though broker has applied already for

Hi, I want to compare what my own bank allows me for a mortgage and what a broker can get for me from the same bank. Can I apply through the broker and again directly by myself??

Why not? My broker couldn't get me the amount I wanted, so I went off to the banks myself. 2 said yes, 3 said no. At least I then got a choice between the two who said yes. The one I didn't go with made a few follow-up calls to me to find out if I was still interested, till I told them I'd decided to go with the other bank. So they are interested in giving out mortgages at present.

 

[brokeagain]

Re: Can I apply to my bank for a mortgage even though broker has applied already for

Thanks for all the advice. I am keen to stay with my own bank as I have been with them for 27 years and have never had a problem or loan refused as a student or when I started working.

I have heard that only 30% of mortgages are getting approved at the moment I was keeping my iptions open by applying through a broker.