Recommended 'Adverse' Brokers - for complicated cases

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bamgbost
bamgbost Posts: 469 Forumite
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in Mortgages & endowments
Hi ALL


Can anyone recommend a broker to help with our case and advise on a way forward.


Without going into much detail its not straightforward but involves:


- historic loan arrears
- not perfect credit history
-Not being UK/EU Citizen
- etc


Any Brokers... or those who have had great brokers dealing witn their cases are very much welcome!
365 Day 1p challenge - £371.49 / 667.95
Emergency Fund   £1000 / £1000 ( will enlarge once debts are cleared)
DFW - £TBC
«1

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  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    Most local independent mortgage brokers should be fine. Face to face is best in cases like this (not a telephone factory line service that likes to cherry pick)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • David_White
    David_White Posts: 892 Forumite
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    edited 20 May 2017 at 3:46PM
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    I'm obviously biased however I disagree with the above.

    A local mortgage broker will handle cases from everyone that walks in the door... some adverse some not therefore their experience may be limited.

    I get plenty of cases on my desk where a local broker has jumped the gun and gone straight to the likes of Precise where a better alternative is possible.

    A broker that only deals in adverse credit is naturally going to have more experience in the same way that a broker only dealing in new builds is going to know more about that etc

    I'm also curious to know the reasoning why face to face would be better because someone has adverse credit. What is it about seeing their face that would benefit me in getting them a mortgage agreed?
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    I'm also curious to know the reasoning why face to face would be better because someone has adverse credit. What is it about seeing their face that would benefit me in getting them a mortgage agreed?

    Have you seen the threads on this board by people complaining about the telephone based brokers when it comes to more complicated cases?
    What is it about seeing their face that would benefit me in getting them a mortgage agreed?

    Depends on how you run your business. The telephone based brokers tend to like to cherry pick. Don't get me wrong. As an IFA I do a lot of remote cases where I never see the person. However, my model is not a telephone factory line service. So, if the mortgage broker is not a telephone factory line then there is no reason why it wouldnt be suitable.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • David_White
    David_White Posts: 892 Forumite
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    dunstonh wrote: »
    Have you seen the threads on this board by people complaining about the telephone based brokers when it comes to more complicated cases?

    For every thread like this I'm sure you could find one where a face to face broker (through an estate agent or not) has made a balls up of a case.

    Some interesting points though and I think actually it comes down to whether the broker is good and motivated or not however they choose to conduct business.
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    For every thread like this I'm sure you could find one where a face to face broker (through an estate agent or not) has made a balls up of a case.

    No. Most threads that are negative tend to be on telephone factory line brokers and EA brokers.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • amnblog
    amnblog Posts: 12,445 Forumite
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    David has a point here.

    I'm sure like me he picks up adverse cases every week where the local 'face to face' broker has limited experience and has made a mess of it.

    Where telephone based brokers are referred to on this forum as being poor on adverse cases, it is nearly always the same 'no fees' firm and we know who they are.

    Experience is the key thing, not method of working.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ACG
    ACG Posts: 23,729 Forumite
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    I agree with AMN and David, 90% of what I do involves adverse. This year I would say about 80% of those cases I have placed with adverse have been on the high street.

    I have a cracking example from someone who came to me off this site where they had been to a broker who tried a high street lender and was declined. The broker then tried an adverse lender and the case was declined (or at least not accepted). He then came to me and I tried the same high street lender the first broker tried and it has gone to offer...Experience in the given area is the key rather than how they work.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • dunstonh
    dunstonh Posts: 116,387 Forumite
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    Seeing as I appear to be in the minority here, I would suggest that op contacts L&C as recommended by this website/
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • bamgbost
    bamgbost Posts: 469 Forumite
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    Ok. Will make headway with L&C . thanks guys..


    But if u do have any more suggestions. Feel free to post!
    365 Day 1p challenge - £371.49 / 667.95
    Emergency Fund   £1000 / £1000 ( will enlarge once debts are cleared)
    DFW - £TBC
  • Gotkeys
    Gotkeys Posts: 37 Forumite
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    I used Mortgage success ltd in Manchester, all done by email and phone and they were great. Ive emailed them several times over the last 18 months or so and they always replied quickly even though I was in no position to need a mortgage broker. Emailed again in March this year and they thought I may be able to get a mortgage.
    Ive got an unusual work history, recently took 3 months unpaid leave and have terrible credit history (historic).
    Took about 6 weeks from initial enquiry to mortgage offer with high street lender, just waiting to exchange now. Seemed like forever to me but I'm impatient, it would have taken a lot longer if I tried on my own and I wouldn't have got a mortgage anyway! Was always kept updated by phone and email as well.
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