mortgage brokers fee

irishlinks said:

In many cases NIB will be the lowest rate for many borrowers

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Disagree with this comment - NIB are good for SOME borrowers. Also have you seen some of the other rates available from other banks for low LTV's? ie AIB

Deleted: posted twice in error!

Munsterdude - if you had quoted the whole sentence you would see that I qualified the statement with "those with LTV under 80%"

irishlinks said:

n many cases NIB will be the lowest rate for many borrowers - those with LTV under 80%. .

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Can you tell me any tracker rate in Ireland that is lower than the NIB LTV tracker? (excluding any short term discounted rates). I don't believe you can. True - AIB come close on 50% LTV at 4.6% - but they are not lower.
My statement was fully justified.
I am not connected in any way with NIB - I just like people to realise that brokers may not always be getting them the lowest rate possible. I will gladly accept correction if there are lower tracker rates than these.

NIB rates
LTV Rate
50% 4.5%
60% 4.52%
70% 4.65%
79% 4.59%

irishlinks said:

Munsterdude - if you had quoted the whole sentence you would see that I qualified the statement with "those with LTV under 80%"

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so, "many" is those who have LTV's less than 80%?

I disagree. I believe "many" is those in the country who have LTV's of over 70% - therefore AIB is just as attractive a proposition

I was just pointing out that for anyone with an LTV of 80% or under - NIB has the lowest tracker rate. (ignoring introductory 1 year discounts)
I did not mean my use of the word "many" to mean the majority of mortgage payers - although it would be interesting to know what the numbers of different LTVs are in Ireland.
My point is still that the majority of brokers will probably not point customers to NIB because they would lose commission.

irishlinks said:

My point is still that the majority of brokers will probably not point customers to NIB because they would lose commission.

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in one sense you are correct - if the only consideration was LTV - ie every other aspect of the aplication is satisfactory etc. In real life, there are many other factors that influence where us brokers would place business. ie short term debt, or speed or flexibility. NIB wouldnt rate highly in my experience on these other factors.
If it comes purely to a price fight - NIB can sometimes be the cheapest option. I have recommended clients to go directly to NIB. Funnily enough many choose not to.