Brokers who pay Legal/Valuation fees

M

masterK

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I'm interested in moving my mortgage from a variable rate with BOI to a 5 year fixed with AIB. I was wondering if anybody was aware of any brokers offering to pay legal and valuation fees.
 
Maximum broker commission payable by AIB is 0.5% of the loan with a ceiling of €1,500 so I'd be surprised if a broker is going to pay all of your legal and valuation fees. I'd imagine you're more likely to negotiate a commission split at best.

Liam D. Ferguson
 
masterK said:
I'm interested in moving my mortgage from a variable rate with BOI to a 5 year fixed with AIB. I was wondering if anybody was aware of any brokers offering to pay legal and valuation fees.
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Why not just stay with BOI for their 5 yr fixed? It's 3.99 - AIB is 3.86%. Not much of a difference and no legal fees and probably quicker and less hassle. AIB might not even accept you. Speed might be important in case the fixed rates rise soon.

On a 200k mortgage over 25 yrs the difference would only be €14 a month or €840 over the 5 years. The legal and valuation fees would probably be that much and you would need to find that up front.

www.*****************.com
 
irishlinks said:
Why not just stay with BOI for their 5 yr fixed? It's 3.99 - AIB is 3.86%. Not much of a difference and no legal fees and probably quicker and less hassle. AIB might not even accept you. Speed might be important in case the fixed rates rise soon.

On a 200k mortgage over 25 yrs the difference would only be €14 a month or €840 over the 5 years. The legal and valuation fees would probably be that much and you would need to find that up front.

www.*****************.com
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Where did you get a rate of 3.99? I've was in touch with BOI and told the rate is 4.2%
 
masterK said:
Where did you get a rate of 3.99? I've was in touch with BOI and told the rate is 4.2%
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I got it here - The BOI website - [broken link removed] and select "How much will repayments be"
But on further investigation it looks like the rate of 3.99 is for new customers only?
They do mention a higher APR on the 5 year fixed for existing customers here - [broken link removed] - so that must be the 4.2% rate.

Still - 4.2 or 3.86 - is it worth it (how big is the mortgage?) Might be worth it if you can get a broker to give you some commission back though.

www.*****************.com
 
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