Etamagents
Registered User
- Messages
- 23
Hi there,
Last September, my girlfriend and I decided to put the initial deposit of 5k on an apartment off plan. Subsequent to the 20k final deposit, we were advised by our solicitor to get loan approval in principle to cover our bases. As first home buyers, we were admittantly a little naive but what followed has left a bitter taste in the mouth.
We decided to process our mortgage through a broker as we thought that their advice and expertise would be most appropriate for us. We thought we would approach a number of brokers and decide who was the best for us after a consultation. We scheduled meetings with all of them and brought the relevant documentation that they requested to each meeting.
Ultimately, we decided to go with a broker "in the country" who assured us that she could get us a better mortgage through the mortgage provider than our broker in Dublin who had already processed our application as she had a really good contact. She asked us to address a letter to the mortgage provider giving her permission to process our mortgage application. Unfortunately, she came back with an offer which was exactly the same as our original broker in Dublin. This was a concern as the main reason we went with her was because she assured us a better rate than our Dublin broker.
Nonetheless, we decided to get the offer in principle and the broker in the country arranged a valuation of the property (even though at that stage it hadn't been built). The offer was never signed as our solicitor was happy that we would get approval closer to the time of moving in.
A year later, our apartment was almost complete and we decided to process our mortgage through the original Dublin broker as we thought he gave better advice and that it would be easier to deal with someone locally. We have now signed the new loan offer and should close at the end of the month.
A week ago, my girlfriend received a very angry call from the broker based in the country explaining that she was insulted that we didn't go with her and that she would send us an invoice for the services rendered.
Yesterday, we received an invoice charging us for the valuation of Euro 127 (which I have no problem with), a 1 and 1/2 hour initial mortgage consultancy fee of Euro 75, administration costs such as calls, emails, and postage for Euro 50, and a mortgage processing fee of Euro 100. The total was Euro 357. In my opinion these costs are very excessive as apart from the initial meeting we had with her daughter for about an hour which was not very helpful, there were only 2 or 3 calls (clarifying issues created by her daughters inexperience at the meeting) and 1 or 2 letters (loan offers) and we never got the offer she assured we would get at the outset.
Can anyone please give me some advice as we to what we should pay????
Last September, my girlfriend and I decided to put the initial deposit of 5k on an apartment off plan. Subsequent to the 20k final deposit, we were advised by our solicitor to get loan approval in principle to cover our bases. As first home buyers, we were admittantly a little naive but what followed has left a bitter taste in the mouth.
We decided to process our mortgage through a broker as we thought that their advice and expertise would be most appropriate for us. We thought we would approach a number of brokers and decide who was the best for us after a consultation. We scheduled meetings with all of them and brought the relevant documentation that they requested to each meeting.
Ultimately, we decided to go with a broker "in the country" who assured us that she could get us a better mortgage through the mortgage provider than our broker in Dublin who had already processed our application as she had a really good contact. She asked us to address a letter to the mortgage provider giving her permission to process our mortgage application. Unfortunately, she came back with an offer which was exactly the same as our original broker in Dublin. This was a concern as the main reason we went with her was because she assured us a better rate than our Dublin broker.
Nonetheless, we decided to get the offer in principle and the broker in the country arranged a valuation of the property (even though at that stage it hadn't been built). The offer was never signed as our solicitor was happy that we would get approval closer to the time of moving in.
A year later, our apartment was almost complete and we decided to process our mortgage through the original Dublin broker as we thought he gave better advice and that it would be easier to deal with someone locally. We have now signed the new loan offer and should close at the end of the month.
A week ago, my girlfriend received a very angry call from the broker based in the country explaining that she was insulted that we didn't go with her and that she would send us an invoice for the services rendered.
Yesterday, we received an invoice charging us for the valuation of Euro 127 (which I have no problem with), a 1 and 1/2 hour initial mortgage consultancy fee of Euro 75, administration costs such as calls, emails, and postage for Euro 50, and a mortgage processing fee of Euro 100. The total was Euro 357. In my opinion these costs are very excessive as apart from the initial meeting we had with her daughter for about an hour which was not very helpful, there were only 2 or 3 calls (clarifying issues created by her daughters inexperience at the meeting) and 1 or 2 letters (loan offers) and we never got the offer she assured we would get at the outset.
Can anyone please give me some advice as we to what we should pay????