MSE News: Lenders restrict cheap mortgage deals

Former_MSE_Guy · 13 July 2010 at 5:49PM

This is the discussion thread for the following MSE News Story:

"Over half of home loans are not available via brokers, compared to less than a quarter three years ago ..."

Read the full story:
Lenders restrict cheap mortgage deals

payless · 13 July 2010 at 6:35PM

Wonder if we will see one of the big national brokers announce a new " research" service ? ...

Direct deals have been hard to beat for last 2 years ( does not matter how many mortgages available it how many of the best buys of various types) , almost all my residential business has gone to direct cases

LittleMissAspie · 13 July 2010 at 6:36PM

I wouldn't say that's "restricting" them. It just means you have to bother to do some research yourself. Who would spend hundreds of thousands without doing their own research anyway?

jockosjungle · 13 July 2010 at 7:44PM

To be honest how many brokers wouldn't tell you the truth and make up stories like "HSBC only approve 1 in 10 people" and even Martin said a broker can push a mortgage through better than you can. I think the truth is we now live in an age where we can sit at our PC and do a couple of hours research and check out a large number of providers many of which will provide a better deal than a MA could.

Its whether you need that extra hand holding, have maybe had a mobile phone contract default, etc. where an experienced adviser can help you out.

Truth is many advisers are pretty unscrupulous, take any in a large chain EA for example who check out 10 lenders but use strong arm tactics to force you to use them,.

Hopefully the better MA will thrive and its time that the dodgy ones can pack in

R

michaels · 14 July 2010 at 9:55AM

Don't know who did the comparison table but over the 2 year deal period the HSBC discount costs about £2100 less than the A&L one (not £256), I haven't checked any of the other figures...