if he did, i'd question him on this, because he obviously is ripping you off.
I'm sure he will make a bigger commission on a you taking this deal, thats why he is recommending it.
If i was you i'd go direct to a bank and forget about this muppet.
No doubt the ECB will continue to cut rates over the next year but there is no guarantee that the banks will pass these cuts on to borrowers on variable rates (trackers are a different story and if this is a new mortgage you are unlikely to have been offered a tracker).
The point I am trying to make is that you should not just assume that rates will continue to fall - .
Even if the rate cuts are not passed on a variable rate is cheaper no ?
So why pay for a fixed rate thats guaranteed to be fixed at current rate rather than a variable that may, go down, or probably will go down ??
A pretty sweeping statement there Senna
First Active actually pay the lowest level of commission on the market at 0.5%. If she was recommending PTSB, IIB or Haven who pay 1% and their rates were not competitive then she would be ripping you off.
Delphi, has the broker mentioned that she is advising the 5 year fixed because First Active will give a bigger mortgage if you take this rate. Is affordability an issue?
If not then you should question why the broker is advising going on a fixed rate in the middle of an interest rate reduction cycle. As I said she will get the same commission regardless of whether you go on a variable rate or fixed rate.
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