Hi,
I'm wondering can anyone think of any negatives re. seeking mortgage approval from more than 1 bank.
We're looking at buying a house that would be completed in 3 to 4 months, and I'm concerned that rates would go up by then, and we would be caught with whatever the rate happens to be at draw down with that particular bank. I'm fairly confident that in our circumstances we could get approval from all of the banks, so its not a case of hedging our bets.
So, I'm thinking of submitting an application with 2 or 3 banks (ie. aib, boi, ebs??) with the intention of choosing the most competitive at drawdown in a few months time.
We're planning on fixing part of our repayment (50%) to lower our exposure to rising rates, so it may well make a difference if one of the banks takes a month or so to follow the others.
Just wondering, is there any sense to this?
I'm wondering can anyone think of any negatives re. seeking mortgage approval from more than 1 bank.
We're looking at buying a house that would be completed in 3 to 4 months, and I'm concerned that rates would go up by then, and we would be caught with whatever the rate happens to be at draw down with that particular bank. I'm fairly confident that in our circumstances we could get approval from all of the banks, so its not a case of hedging our bets.
So, I'm thinking of submitting an application with 2 or 3 banks (ie. aib, boi, ebs??) with the intention of choosing the most competitive at drawdown in a few months time.
We're planning on fixing part of our repayment (50%) to lower our exposure to rising rates, so it may well make a difference if one of the banks takes a month or so to follow the others.
Just wondering, is there any sense to this?