# Good mortgage broker in Galway?



## Joanna (11 Aug 2005)

I am starting to look into mortgages - Can anyone recommend a good mortgage broker in Galway?

Thank you,

Joanna.


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## bacchus (12 Aug 2005)

Joanna said:
			
		

> Can anyone recommend a good mortgage broker in Galway?


What's your definition of a "good mortgage broker"?


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## edadam (12 Aug 2005)

Hi Joanna,

In my opinion it is just as easy to go direct. There is enough information and advice around, especially on this site, to assist you. It really depends on whether you are prepared to do the leg-work and to hassle all the relevant parties until the deal is done. If you do decide to go with a broker there is no necessity to chose a Galway broker btw (and I do actually live in Galway). 

Good Luck.


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## shulgin1000 (12 Aug 2005)

Just like a recent thread requesting recommendations for a galway based solicitor for conveyancing work, theres no need to restrict yourself to a local guy.

I have never met my solicitor or broker but they are both doing a fine job.

The broker I used was Liam Ferguson (ferga.com) and I went with his deal simply because it was the best available.  

My suggestion would be to go to ALL the banks directly initially (take a day off and have appointments arranged in advance for each bank).  Bring along the essentials - copy of P60, bank statements for last six months, etc.

Decide what type of product you need beforehand if possible ie. fixed, variable, tracker, etc.  - then make sure that you get direct comparisons with similar products from all the banks.  You will probably find that the banks that cant match a product you got from another bank will try and sell you into a completely different type of product - designed to confuse and steer you away from the reality that they are not offering as good a deal for similar.
Let the rest of them know the best deal you have got back - to see if they will do better.  Then try a couple of brokers on the same basis - and by the end of the process, you can satisfy yourself that you have gotten the best deal possible at the time.


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## joel (14 Aug 2005)

Hi
I can recommend Simply mortgages in Galway; I went through them no problem....


-Joel


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## SteveW (1 May 2008)

...


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## demoivre (1 May 2008)

SteveW said:


> Minna Financial Services are a good mortgage broker and have access to all 17 lenders and all 200+ mortgages so you get the best possible mortgage for your circumstances. They are on 091 593973.



Ulster bank and NIB don't sell mortgages through brokers. Is that made clear to clients of Minna?


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## Dave Vanian (1 May 2008)

SteveW said:


> Minna Financial Services are a good mortgage broker and have access to all 17 lenders and all 200+ mortgages so you get the best possible mortgage for your circumstances. They are on 091 593973.


 
Hi SteveW, 

Are you Steve Warsop, director of Minna Financial Services, recommending yourself?


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## money man (1 May 2008)

If you are going directly to a bank and not a broker i would recommend personally Ken who is the branch manager of First Active in Oranmore. Otherwise NIB have the best rates but may not be able to get as much from them.


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## moondance (1 May 2008)

I used REA and the branch I was put in contact with was the Galway branch even though I live in Co Roscommon. Found them to be very good for me (first time buyer looking to get as big a mortgage as possible at a good tracker rate). You can google them to get their website. I have no affiliation apart from being a happy customer.


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## Satanta (1 May 2008)

SteveW said:


> ...and have access to *all* 17 lenders and *all* 200+ mortgages so you get the best possible mortgage for your circumstances.


Slightly disturbing to not only see a broker advertising in this manner, but providing misleading (tempted to say false) information as well. 

Not all banks/institutions deal with brokers, so any claim that they deal with "all" should be accompanied by some serious small print/caveats.


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## mercman (2 May 2008)

And for me and referring to other Posts where others are suggesting these 'salesmen' should be paid a fee is a complete load of bull. If someone wants to use a 'Mortgage 'Salesman', why should they be charged a fee. They earn good money from Banks for doing naff all other than completing and delivering a form. Now Banks have stopped using these brokers / salesmen and people are feeling sorry for them.


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## fear peile (2 May 2008)

Heard brokers were having a hard time alright. most of the main banks wont deal with them now. They have creamed it for the last 10 years. must be getting really difficult now if they have to try and get customers this way.


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## Soldier (6 May 2008)

Eoin Donnellan is excellent. he got both my friends their mortgages. ring up and ask for Eoin.

http://www.odonnjoyce.com/menu.asp?menu=112&parent=0&item=0002


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## mercman (6 May 2008)

Soldier - How long ago ?? The entire market has changed. Brokers will not undertake the work, unless they are paid a fee from those seeking a Mortgage. And as it is every man for himself, the best deals can be had in the present climate is by sourcing the market by oneself.


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## mercman (6 May 2008)

And don't forget Soldier, he is part of an EA firm. My advice is for anyone searching a mortgage go independent.  It's not that difficult.


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## ubiquitous (6 May 2008)

mercman said:


> Brokers will not undertake the work, unless they are paid a fee from those seeking a Mortgage.



True for some brokers, but most definitely not true for many or most.



mercman said:


> And don't forget Soldier, he is part of an EA firm.



Excellent point.


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## mercman (6 May 2008)

If most won't charge, how are they going to earn. The vast majority of lenders have ceased using Brokers, so therefore a fee must be charged to some party. If the lenders won't pay it who do you think will pay ???


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## ubiquitous (6 May 2008)

mercman said:


> If most won't charge, how are they going to earn. The vast majority of lenders have ceased using Brokers, so therefore a fee must be charged to some party. If the lenders won't pay it who do you think will pay ???



Individual brokers can answer that question for themselves. At least one broker firm advertised in my local paper last week to say that they would continue to offer free services to customers and would not be charging fees in the wake of the commission cuts. I would be surprised if they are alone.

Introducing fees in respect of services that were hitherto provided free of charge might be okay for a business that is in a monopolistic position or otherwise insulated from competition, and/or during times of booming demand. Doing so in a competitive sector during a downturn might not be the best way to grow a sustainable business.


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## LDFerguson (6 May 2008)

mercman said:


> The vast majority of lenders have ceased using Brokers, so therefore a fee must be charged to some party.


 
Not so.  One lender has stopped dealing with brokers.  Ulster Bank.  One other lender never did.  National Irish Bank.  All the rest continue to pay commission to brokers.  Some, but not all have reduced the level of commission payable to brokers.  It's up to each individual broker to decide if they are going to continue operating on the reduced levels of commission.


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## Jonathan.OB (6 May 2008)

Like, LD has said, only one lender has stopped using brokers.   And there are lenders who have no option to use brokers - subprimes & IIB.


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## spinal_tap (6 May 2008)

Soldier said:


> Eoin Donnellan is excellent. he got both my friends their mortgages. ring up and ask for Eoin.
> 
> http://www.odonnjoyce.com/menu.asp?menu=112&parent=0&item=0002


 
+1
Really knows his stuff ... sorted me out and a few of my friends. He was originally "independent", not sure if him moving downstairs in an office building makes him any less so. Very easy to deal with.


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## MortgageGuy (7 May 2008)

Hi Mercman, the industry has indeed changed but your statement that 'brokers won't undertake the work unless you pay a fee' is simply innacurate, you potentially have some good points about brokers, although saying they do 'naff all other than complete a form' shows a decided lack of knowledge on your behalf as to what brokers actually do. 

good luck in whatever you do, clearly it involves more than just 'filling in a form' 
cheers.


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## mercman (7 May 2008)

The point I made previously was in relation to a broker that charged a fee as well as securing his position and commission from the lender.

How many brokers or industry professionals disclose how much they earn from each transaction ?

Please refrain from getting personal with me and sending insulting PM messages. It won't wash. 

Whilst I have sympathy for you and your co-brokers in the present downturn, there does remain some truth in my side of the debate.


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