Best mortgage broker in Cork?

JackieChang

Any recommendations?

Never done this before. Just called the first one on google and they have a fee of 350 yoyo. Is that normal?

MrDerp

They need to be paid for their time.

Back in the good old Celtic tiger days, broker’s made their money as a trailer fee or kickback from a bank. If you think about it, there was plenty of incentive for a broker to steer a consumer towards a mortgage provider that gave a better kickback, regardless of interest rate. Also however, more people actually got mortgages, regardless of risk, so they could afford a few no mortgage, no fee clients.

This is still the case with plenty of financial products. You can get a ‘free quote and sign up’ for a life policy for example - in reality the broker enjoys trailer fees amounting to potentially several of the initial months of payments.

the EU is looking at banning trailer fees for investments, where there’s a chain of kickbacks, due to the obvious potential for abuse by investment fund distributors, to asset managers, and down to the QFAs advising you on where to put your pension/savings/child’s college fund.

the_amazing_raisin

Does it have to be a broker? Why not just go directly to the bank, there's only like 4 of them now anyway after KBC and UB are gone

Personally I don't really see any advantage to a broker these days

whatever76

agree with above no need for broker really unless you have some complexities with your application and may need some exceptions the broker maybe able to help but otherwise go direct with bank and see what best suits you.