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Mortgage broker, no fees?

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  • 05-05-2018 12:12pm
    #1
    jc11
    Registered Users Posts: 175 ✭✭


    Hi as title suggests, im looking for a mortgage broker based in Dublin that does not charge fees.

    Id be grateful for any recommendations

    Cheers


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    #2
    mdebets
    Registered Users Posts: 1,747 ✭✭✭mdebets


    Why do you want that. He has to earn money and if he doesn't earn it from you, he has to get commission from the bank you are lending from. That means he will offer you the mortage with the highest commision, not the overall best (cheapest) mortage for you. It's false ecconomy and the no fee broker might be more expensive than the broker you have to pay.


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    #3
    Bubbaclaus
    Registered Users Posts: 4,461 ✭✭✭Bubbaclaus


    mdebets wrote: »
    Why do you want that. He has to earn money and if he doesn't earn it from you, he has to get commission from the bank you are lending from. That means he will offer you the mortage with the highest commision, not the overall best (cheapest) mortage for you. It's false ecconomy and the no fee broker might be more expensive than the broker you have to pay.

    Using that logic, why can't the broker with the upfront fee just do the same thing? I've heard this argument a lot and it makes no sense.


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    #4
    colm_c
    Registered Users Posts: 2,031 ✭✭✭colm_c


    Honestly, if you just want the lowest possible fees, go directly to the banks yourself.

    There's nothing difficult to it.

    The reason to use a mortgage broker is if you have something out of the ordinary, in which case their fee is money well spent.


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    #5
    traveller0101
    Registered Users Posts: 122 ✭✭traveller0101


    mdebets wrote: »
    Why do you want that. He has to earn money and if he doesn't earn it from you, he has to get commission from the bank you are lending from. That means he will offer you the mortage with the highest commision, not the overall best (cheapest) mortage for you. It's false ecconomy and the no fee broker might be more expensive than the broker you have to pay.

    Surely you can spot pretty quickly if you're not getting the best deal.


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    #6
    the_syco
    Registered Users Posts: 37,300 ✭✭✭✭the_syco


    Bubbaclaus wrote: »
    Using that logic, why can't the broker with the upfront fee just do the same thing? I've heard this argument a lot and it makes no sense.
    If there's 3 companies that offer commission for mortgages, and 10 who don't, the "free" broker will only look at the 3. If you pay the broker, one of the other 10 could give you a great deal.


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    #7
    lintdrummer
    Registered Users Posts: 1,796 ✭✭✭lintdrummer


    To answer the OP's question I'd recommend Dowling Financial. No fees and got us a very good offer.


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