Please Help! Valuation and Life insurance problem.

i was getting a mortgage through a broker, and she got me an offer with the amount that i need. But as you know the interest rate has gone up since, and i want to get an offer letter from another bank, which could save me about €100-150 a month as the rate difference. But she told me they dont deal with that bank, so i said to her that i might apply myself and see how much they could offer me. then two month down the road, i will decide which bank i want to take out mortgage from.

she arrange the valuation with the bank of the apt last month and its done, she sent me an email said cos im first time buyer, so its free. and she asked me to get life insurance, i told her that i found a good deal on line, but she insisted that she cud arrange life insurance and match up the offer i found on line. so i gave her the cheque for the 1st year.

once she heard i might go with other bank rather though her, then she turned around said i have pay for the valuation, even she told me its free. i actually dont mind paying, but i have never got the valuation report. and also she said i have pay for the difference of the life insurance, as they matched up the offer themselves and paid the insurance company. But i dont understand how come she said they paid for me for the insurance, but my policy is not even started yet? she told me b4 my policy starts when the day i get my keys. obviously she is annoyed and concerns about her commission, but 30-40 years down the road, means i have pay about 35.000 more if i go with her offer.

anyone knows if she is right and i have pay her back the money or where should i stand? any advice appreciated.

Do you have anything in writing from her regarding the special offers?

i have an email that she sent me said valuation is free. and i have a letter from her about the matching up offer for the life insurance. In general do i have to pay for the valuation for the bank if im getting mortgage from them? I thought a lot of the banks offer valuation free if you r first time buyer?

Hi

I did similiar and shopped around for a cheaper mortgage, the broker was annoyed but tough. The valuation was only €140 so I didn't mind paying it twice as the saving over the life of the mortgage was huge.

You can still use the broker for the Life Assurance even if you get your own mortgage.

betsy

thanks for the advice. just wondering that life assurance policy only starts when u get the keys/ the date of close of sale, doesnt it?

In general the life policy must be in place BEFORE the bank will release the loan cheque, so the policy may be in force for a few weeks before the closing/handing over of keys etc.

Best of luck with the whole thing.