Mortgage brokers

S

Sheazer

Guest
I have assumed going through a mortgage broker is the best way to get a mortgage at present.

I have signed docs with Irish Mortgage Corporation and they have informed me they have agreed a mortgage in principle with a number of institutions but at present I am still waiting to buy a house so therefore have not got a mortgage.

Can I now switch to primafinance.ie to get the cheaper deal on the solicitors fees or is it to late?
 
I suspect any paperwork you have with T&C documented will help clarify the situation. Or you could [broken link removed] them?
 
Whose telling the truth

Hi,

At the moment i am in the process of applying for a mortgage. I have gone to two brokers as a start and have received conflicting information from them.

The IMC says that AIB have a track record as one of the most competitive mortgage providers.

Omega Financial meanwhile said AIB have a track record of one of the least competitive / costly mortgages!!

Who is telling the truth? Do some brokers have vested interests with certain financial institutions?

On a different note, some mortgage providers dont deal with brokers as far as I am aware (NIB, EBS....). What kind of a record would these have with FTB's? In other words is it worth burning some shoe leather doing the rounds?

Thanks for any help in advance,
WB
 
Re: Whose telling the truth

Do some brokers have vested interests with certain financial institutions?

You need to check with individual brokers to see what lenders they deal with and how they are remunerated for placing business with them.

Who is telling the truth?

You can see a summary of current rates in the best buys list and in the property sections of the various newspapers. In my opinion you should go with the best standard (i.e. not one year discounted) variable/tracker rate (assuming you can afford variable repayments) on offer right now and then, if a better offer comes along over time, consider switching. Mortgage switching is becoming a lot easier and there is a lot more competition in the market these days so I wouldn't be too distracted by lenders' past performance on rates to be honest.

On a different note, some mortgage providers dont deal with brokers as far as I am aware (NIB, EBS....). What kind of a record would these have with FTB's? In other words is it worth burning some shoe leather doing the rounds?

Note that are planning to do business through brokers imminently. I personally would always encourage people to do their own reading up and shopping around for the best rate on mortgages, mortgage protection life assurance, house insurance etc. rather than automatically plumping for a single lender or broker. This can be useful even if you do decide to go through a broker in the end as then you will be aware of the pertinent questions to ask etc.
 
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