Mortgage Broker has asked me to share the 2% cash back with him

My experience with brokers was that they were paid directly by the lender, nothing from me directly. That sounds unusual.
 
Bank of Ireland does not pay commission to mortgage brokers.

If a broker recommended BoI, he would have to be paid a fee for it.

Why did he recommend BoI?

By now, he should be recommending that you go directly to EBS.

Brendan
 
I'd probably be looking for a new mortgage broker if I encountered something like that. They're supposed to act in the best interests of the client, not of their own bank balance.
 
But if the broker considers BOI the best for this client for whatever reason he would be working for nothing if BOI don't pay commission to brokers. A lot more unbiased in some ways than only encouraging clients towards lenders that do pay commission.
 
Who are you moving from?? Boi are certainly not the best value out there! Aib or as mentioned ebs wouod be the ones to go with
 
Last edited by a moderator:
Hello,

Did the broker and yourself not agree how they would be paid, from the outset ?

.. in some instances, the broker gets paid a commission, in other instances the banks don't pay the broker but the broker charges their client a fee directly.

People deserve to be paid for their work, but not on the double
 
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