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Mortgage Application - broker & direct

  • 29-03-2018 11:26am
    #1
    Ranjo
    Registered Users, Registered Users 2 Posts: 446 ✭✭


    I have applied for a mortgage directly with 3 different lenders. Progress is going fine so far with approval in principle and I'm awaiting end of year accounts for my business to complete the process & get to loan offer.

    I was recently introduced to a broker, and I'm interested as I'm really looking to get the right deal for this mortgage.

    Some of the application forms the broker sent are through banks I've already submitted to. Would it be rude/bad practice to apply again through the broker? I don't know if the broker can obtain anything different to what I'm getting directly, and am not keen on having underwriters with my name twice on their desk & start asking questions - or.. is this common enough?


Comments

  • #2
    368100
    Closed Accounts Posts: 2,067 ✭✭✭368100


    No, broker might get you a product that you hadn't considered and a possibly lower rate. You're free to get multiple mortgage offers.....i just wouldnt tell the mortgage officers that you're dealing with directly as they may not be as keen to process it given it could be waste of time. Though most banks measure approvide in their own right for targets as distinct from drawdowns so they could be happy to process.


  • #3
    KyleJJE
    Registered Users Posts: 81 ✭✭KyleJJE


    From what a broker told me,they cant get lower rates, they just save time approaching all banks instead of you going through the process with multiple banks. If you know what type you want (fixed or variable) then just use a mortage comparison website for best rates and incentives. Some brokers dont have all institutions on their books so you might miss out on a better deal.


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