Easier Mortgage Applications?

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  • Torfoxwell
    Torfoxwell Posts: 90 Forumite
    Its a minefield out there , there are so many factors to consider and a good broker knows so many tricks of the trade that never occured to me , mine is my cousin so was recommended to me , the finance advice centre is good as my friend used them , theres a few on here that are very knowledgeable , they can take the stress off and mines dealing with the estate agents as well (im not too fond of my estate agents)
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    David_White wrote: »
    For a first time buyer with no experience or knowledge of purchasing a property the entire process can feel very complex and daunting.

    Vast majority of people are able to work there way through the process. As not as if they are alone through it.
  • Conrad
    Conrad Posts: 33,137 Forumite
    Combo Breaker First Post
    David_White wrote: »


    This isn't me advertising but 100% of all business I do is conducted via emails and telephone calls so I never actually meet my clients.




    Broker I know well has just got in trouble big time with her Network(Countrywide) for not meeting clients face to face to verify ID
  • Conrad
    Conrad Posts: 33,137 Forumite
    Combo Breaker First Post
    David_White wrote: »

    There's also plenty of brokers that don't charge anything upfront so make sure to do a bit of research before diving in :)



    But they might not be offering all the deals and lenders that pay them no commission such as Post Office Mortgages.


    Sometimes better to pay a fee, and a decent Broker has no problem charging up-front, just as would many a serious and competent service provider that would never expect to work for free. Lawyers generally expect some commitment money up front, and have no need to hand over their skills and time for no payment
  • David_White
    David_White Posts: 892 Forumite
    First Anniversary Combo Breaker First Post
    Ultimately there's plenty of brokers out there that are confident enough in their ability that they don't need to charge up front as they get their cases approved.

    Unless you feel the case isn't going to be offered/completed and want to still get paid I can't see any value in taking money from someone upfront.

    If you charge up front you could technically make a living and never get someone a mortgage.

    That's not for me, good luck to you though...
    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.
  • Conrad
    Conrad Posts: 33,137 Forumite
    Combo Breaker First Post
    You can apply online 'without advice' to lots of lenders, for example Virgin


    Lender still make checks on you but as they are not giving you advice, their is less onus on them and thus a slightly lessor process
  • prosaver
    prosaver Posts: 7,026 Forumite
    First Anniversary Combo Breaker
    Conrad wrote: »
    You can apply online 'without advice' to lots of lenders, for example Virgin


    Lender still make checks on you but as they are not giving you advice, their is less onus on them and thus a slightly lessor process

    does your credit score go down if you apply (shop around) for a lot of different morgages?
    “Life isn't about finding yourself. Life is about creating yourself.”
    ― George Bernard Shaw
  • Conrad
    Conrad Posts: 33,137 Forumite
    Combo Breaker First Post
    prosaver wrote: »
    does your credit score go down if you apply (shop around) for a lot of different morgages?




    Yes, but one would not apply for several, the idea would be to apply for only one.
  • prosaver
    prosaver Posts: 7,026 Forumite
    First Anniversary Combo Breaker
    Conrad wrote: »
    Yes, but one would not apply for several, the idea would be to apply for only one.

    just thinking you might have less chance if you pick the good one,
    not sure how it works
    “Life isn't about finding yourself. Life is about creating yourself.”
    ― George Bernard Shaw
  • Conrad
    Conrad Posts: 33,137 Forumite
    Combo Breaker First Post
    prosaver wrote: »
    just thinking you might have less chance if you pick the good one,
    not sure how it works




    Hard to say. As a very general rule the high st lenders tend to have less onerous criteria, the likes of Virgin, Halifax, Santander, Nationwide. The Bank Banks, such as Barclays and Natwest will almost always require Bank statements whereas the 4 lenders above request them if they feel they need to.


    Note most Brokers require site of Bank stats for their own compliance purposes regardless of what lenders request.
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