Anyone heard of Mortgage Advice Services?

If you post the details of your current mortgage and anything they offer you on this board someone will offer you advice.



I have been given the offer which is with Bank of Ireland at 5.29% variable on a 1.3% discount for 3 years (upto 90% LTV).

In the end because of the additional borrowing (for repayment of car loan, credit cards etc) and the fact that I do not have 3 years accounts we have gone down the self-certification route.

3% penalty fee if repaid in first 3 years. Overpayments allowed Minimum £2000. Interest calculated daily. All fees to be added to mortgage.

I currently pay 4.69% variable (which is a good rate) but my existing lender would not entertain the additional borrowing and not without proof of income.

Regards

Fees are:

Mortgage Completion Fee £250+vat
Valuation Fee £255
Processing Fee £289 plus disbursements
Mortgage Transfer Fee £1295

All added into mortgage

The letter to the solicitor says:

I/We authorise you to deduct from the advance monies received by me/us, the following amounts:

1. A mortgage completion legal fee of £250.00 plus VAT plus disbursements, payable to the above-mentioned solicitors.
2. The sum of £255.00 in respect of the valuation fee payable to the introducer.
3. The sum of £289.00 plus disbursements payable to the introducer in respect of the initial processing fees and referral fees.
4. The sum of £1295.00 payable to the introducer in respect of the mortgage transfer fee, for arranging the mortgage and associated work involved and acting on our behalf.

Such sums made, payable to the introducer, are to be deducted from my/our mortgage advance and I/We understand that these sums are in respect of costs and fees incurred in respect of the processing of my/our application.


Also Bank of Ireland will pay MAS in excess of £1100. if I take out this mortgage.

Regards

gobbyash