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Currency file
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Insurance file
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 Irish Mortgage Advice - IMPORTANT!
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Apply now
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Want to know how to get the bank to pay you for taking their mortgage?
Take a minute to read this page because the bank won't tell you this and neither will most brokers!
Irish Mortgage lenders want your business so they pay commissions to mortgage brokers who refer you to them for a home loan.
Find out how you can turn that to your advantage rather than having it work against you and pocket €3,000 into the bargain.
You can pocket that commission and guarantee that you get the best mortgage deal at the same time!
How it works
Example savings
Get started now! |
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If you don't have time to read this now, click here to bookmark this page.
But make sure you do find time before committing to a mortgage. You could save at least a month's salary and we all know that saving it is easier than working for it!
Like us, you could be gobsmacked at the deal REA Mortgages offer. It's the kind of deal even Eddie Hobbs would approve of.
Alternatively, if you don't have time right now, just click here and we'll email a link to you or a friend. |
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 Here's how REA Mortgage Choice works
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Irish Mortgage lenders (building societies & banks) want your business so they pay commissions to mortgage brokers who refer you to them for a home loan.
Typically the commission is 0.5% to 1%. Doesn't sound like much until you realise that on the average Irish mortgage it is €2,500 and on a €350,000 loan it is €3,500.
The first problem: Most brokers tell you they work for you for free - and they do - but they pocket the commission. If one lender pays 1% and another pays 0.5%, which one do you think will be recommended?
One broker, REA Mortgages, give that commission back to you so you know that REA's gain is not a factor in their recommendation - plus, it's a nice windfall for you just when you need it most!
The second problem: Most people who organise a mortgage for you are agents for only one or two banks or lenders. How do you know that one of these is the best lender for you? - you don't. REA deal with 13 lenders in the Irish market.
Remember that some lenders pay higher commissions than others and one lender may pay higher commissions on one type of mortgage than another. Given that the lender your broker recommends to you can make a huge difference to the commission he earns, can you be content that the broker forgets all about that and chooses a lender based purely on your best interests?
REA is the one broker who charges you a fee but gives you back a full refund of any commission they earn from the lender.
What struck me, apart from the commission refunded bit, was that this arrangement removes any temptation to recommend a particular lender based on the commission the broker might get
- because REA give that back to you anyhow! They are paid the same regardless of who they arrange your mortgage with.
Finally, solicitors generally charge conveyancing fees based on a percentage of the property value - usually 1% or more than €2,500 on an average property - that's more than REA's entire service is likely to cost, including legal fees!
So I got in touch with Richard Eberle of REA Mortgages and asked him about REA's service.
It turns out to be even better than I thought!
Here's how it works:
- REA Mortgages charge you a fixed fee (don't worry, just read on!) which includes the solicitor's conveyancing fees.
- REA then set about finding you the best mortgage from 13 lenders operating in the Irish market, not just 2 or 3, and most importantly, without being influenced by which one pays what commission.
- Then, if the mortgage lender you choose is one who pays a commission (and most do), REA give that money back to you. That's how you know they're not recommending a lender based on what's good for REA!
- They even guarantee that, if they can't save you money, they will pay you - (but actually, they could save me money, on every single scenario I put to them - even when I had already chosen a lender!).
- In addition, REA Mortgage Choice has once again been voted "Residential Mortgage Broker of the Year" by Moneymate and The Investor Magazine having won the same accolade last year so they must be doing something right!
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REA works with all these Irish banks and mortgage lenders:
Allied Irish Bank (AIB)
Bank of Scotland (Ireland)
EBS Building Society
First Active
Bank of Ireland (ICS Building Society)
Permanent TSB
IIB Homeloans
Nua Homeloans
Start Mortgages
Seniors Finance Ireland Ltd
Springboard Mortgages
Stepstone Mortgage
Ulster Bank
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Let's look a mortgage example |
Say you are applying for a €170,000 mortgage on a house valued at €295,000
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You arrange it |
REA Mortgage package |
| REA fee |
€0 |
€1,995 |
| Solicitors fees |
€2,950 |
included |
| Commission refund |
€0 |
-€1,700 |
| Total cost to you |
€2,950 |
€295 |
That's a saving of €2,655 upfront and it doesn't take account of any savings you might make on the mortgage repayments. Remember, REA have no incentive to recommend anything but the very best deal for you - they get paid exactly the same anyhow. If there's a commission to be paid, you get it, not the broker. |
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What should you do now? |
Even if you have already decided who you want to get your Irish mortgage from, it makes sense to check it with REA Mortgage Services first - you literally can't lose! They'll give you a quote so you can see how the numbers stack up.
Give it a try and let Richard and his team at REA Mortgages show you what they can do. You can apply online right now for a no-obligation quote - use the REA Mortgage online mortgage application. The form looks fairly long but it's not as bad as it looks!
Alternatively, if you have an enquiry before submitting an application, you can click here to email REA Mortgage Choice.
If you don't have time to complete it now, don't forget to Bookmark this page and come back to it later.
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