IFG Mortgages - any opinions.

Hi All,

IFG Mortages in Ongar are excellent, they have really helped me with my first property, I got approval straight away, Susan Hogan is the lady you need to speak to, she is very experienced and very helpful, they don't leave you hanging on either your approved in a matter of days..

All the best and happy hunting

Chris
 
Get yourself a good quality broker, preferably an authorised advisor rather than a multi agency intermediary, and even check them out with The Financial Regulator. There is a list of mortgage brokers on their site which also lists the companies with whom they deal, and then meet as many as you have to until you can build a trusting relationship with one individual.


Best of luck in any event.

Hello,
just to clarify, an Authorised Advisor may not have dealings with all banks, I know of some AA that only deal with 1 or 2 banks, what you are looking for is a broker that has access to all lenders
 
This is personal opinion but be very careful Kluivert when dealing directly with any Irish bank! (BTW I am an ex bank official!!!)

I laughed when you said that they were offering a better/larger/different deal than through the broker. I am assuming that they were giving the green light to a larger loan size than that discussed with the broker- this essentially could be the case, however had the bank looked at any of your financial information? It is impossible for any broker or bank to give you REAL or MEANINGFUL information without throughly reviewing your finances. Even when they issue "an approval in principle" it still may not be worth the paper it is written on depending on the conditions attached.

I always smile to myself when I see a bank advertising "Loan Approval in 24hrs!". The loan approval they mean is "Approval in Principle" which will state that it cannot be relied upon for signing of contracts or bidding at an auction.

Anyone who thinks they can "ring around" or "look over" the deals offered by the banks themselves & choose the best deal-

can they tell me why many of the banks have a "new business" & "existing business" rate schedules for pricing loans?
Picking out the best rate is easy as long as you can read & count- but can you pick out the best value?

For example as an earlier poster pointed out NIB do have the best tracker rate on low LTV mortgages at present, but how competitive are their fixed rate schedules? You may save 0.1% by going to them on a tracker rate, but if rates continue to increase & you want to fix at any stage, their fixed rate pricing is way off when compared with AIB for example. This short term gain with NIB could result in a long term loss as your mortgage is most likely for 20 years plus & a tracker rate is priced in only todays terms.

Get yourself a good quality broker, preferably an authorised advisor rather than a multi agency intermediary, and even check them out with The Financial Regulator. There is a list of mortgage brokers on their site which also lists the companies with whom they deal, and then meet as many as you have to until you can build a trusting relationship with one individual.

Having worked in the banking sector, anyone who thinks that they can "beat" the system by reviewing the banks products themselves (unless they are extremely financially aware & qualified) is kidding themselves. The banks are some of the most profitable companies in operation in this country. Why? Because they have employees called "advisors" that really should be called "salespeople"- the only advice they will give you is to buy their products. With all the scandals of the past few years how any normal (I am counting all people who have never worked for a bank as normal!) person could feel trusting enough to walk into any financial institution for financial advice is beyond me. But hey then again they have spent millions in advertising to convince us otherwise.

Best of luck in any event.

This post should be be included in the stickes, IMHO.

Sarah
 
This post should be be included in the stickes, IMHO.

Sarah
Why? Some people can indeed benefit from using a broker - e.g. those having difficulties borrowing as much as they need, those who can't/won't shop around independently etc. - but many others can ideed do it themselves. The post above overcomplicates matters in the general case in my opinion. For many people the best strategy is to just choose the cheapest/best value tracker for their situation (and to shop around for mortgage protection life assurance etc.) and it doesn't get much more complicated than that. Of course some people will have a vested interest in saying that everybody should use a broker.
 
I think I know the solicitor you're talking about, but if you go through REA, you don't actually deal with him, you deal with one of the partners. So far, she has been very helpful, always answering queries within an expected timeframe and always carrying out instructions to the letter.

You are also free to use your own solicitor and still go through REA.

Well, the sale closed last week and the solicitor was excellent throughout. She was very helpful and made the whole process easier. She was very quick to get the section 60 letter out at the start and when the fees invoice came it was exactly as per the letter, even though I had her in touch with vendors solicitors on numerous occasions.

I have no connections just a very happy customer.

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