Broker Fees

S

sabrePaddy

Guest
Hi,

I have started the process of applying for a mortgage. I visited a broker today and they mentioned a EUR 450 client fee in addition to the commission they gain from the lender.

I presume this is a "levy" to cover the lask of activity in the market at the moment, since the loan is 250K or under.

Does anyone else have experience of broker fees, does that number sound high?

Would I be better off approaching the banks myself, since there are only 2/3 actually lending at the moment?

thanks in advance
 
Brokers work in 3 ways.

1) Charge fee and keep commission
2) No fee and keep commission.
3) Charge a fee and return commission.

I would keep well away from the first lot!

As for brokers v banks - try a search, there are various threads on the pros and cons of each.

[broken link removed]
 
Hi,

Thanks for the info. It sounds like they fall into the first category. I'm surprised because they are a well established broker. I wonder would their tune change if I said I'd go directly to the bank instead?

I'll have a look at the other thread, thanks again.
 
Don't bother with a broker. A few phone calls , a bit of form filling and you save yourself €450. You can easily check the Lowest Mortgage Rates Here
 
We went to a broker first (he was friend of my family) wasnt going to charge but told us no way would we get the mortgage we wanted.
Lets just say my OH and him nearly came to blows.
My OH thought he wanted us to get more just so his comission would be better.
Long story short my OH went out on his own direct contact with bank 4 days later got mortgage we required.

Lesson; don't trust them i suppose!!!
 
Go to moneyback mortgages for ur mortgage - have no affiliation with them just a very satisfied customer.
 
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