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Differences between applying with broker and bank directly?

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  • 08-07-2013 10:19pm
    #1
    The lips
    Registered Users Posts: 475 ✭✭


    I would like to know if there is any differences between the mortgage a bank will offer and what a broker will offer?

    Besides the broker getting there 0.5%, would I be loosing out on any attractive year one interest rates that might be offered to new customers?

    I am well within the margins of getting what I will apply for so no need for flexibility there.


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    #2
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    The lips wrote: »
    I would like to know if there is any differences between the mortgage a bank will offer and what a broker will offer?

    Besides the broker getting there 0.5%, would I be loosing out on any attractive year one interest rates that might be offered to new customers?

    I am well within the margins of getting what I will apply for so no need for flexibility there.

    The interest rates charged are exactly the same whether you go via a Broker or direct to the bank.. The reason why banks pay brokers to submit mortgage applications is because they expect them to be properly packaged in a way that makes sense to the bank to approve the loan and means they don't have to pay one of their own staff to sit down with you for an hour & then try to put the application together properly.


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