london& country or charcol

anchsa

Which mortgage brokers would you advise for adverse credit?London &country or charcol?

Ian_Griffiths_Halifax

Neither. Contact a local Whole of Market Broker.

smnb08

anchsa wrote: »

Which mortgage brokers would you advise for adverse credit?London &country or charcol?

I have some adverse credit but mainly my problems getting a remortgage have been due to some late mortgage payments.
a broker at london and county was recommended to me(by someone on this site) and she is very nice but..
i got in touch with her in april as my fixed rate ended in june and still no mortgage!
we have been declined once and are now waiting to see if we are excepted by another lender.
i beleve that the decline was purely because the broker didnt research the product and me properly.
i have up to now paid £540 in booking fees and valuations!!!
i wish i could go back in time i would of picked someone local that charges a fee someone i could of talked to face to face as i do beleve now you get what you pay for.
i was tryin to get something for nothing and its back fired BIG TIME.

arkie

smnb08 wrote: »

I have some adverse credit but mainly my problems getting a remortgage have been due to some late mortgage payments.
a broker at london and county was recommended to me(by someone on this site) and she is very nice but..
i got in touch with her in april as my fixed rate ended in june and still no mortgage!
we have been declined once and are now waiting to see if we are excepted by another lender.
i beleve that the decline was purely because the broker didnt research the product and me properly.
i have up to now paid £540 in booking fees and valuations!!!
i wish i could go back in time i would of picked someone local that charges a fee someone i could of talked to face to face as i do beleve now you get what you pay for.
i was tryin to get something for nothing and its back fired BIG TIME.

This is the reasons NOT to use L&C and Charcol. Use a local broker who you can contact or even goto see face to face. If you contact a local broker today they will have an answer for you by tomorrow and if they wont be working from a panel like L&C.

Use a local Whole of Market broker

koexelek

... and many brokers are whole of market and DON'T charge a fee either

Ian_Griffiths_Halifax

smnb08 wrote: »

i wish i could go back in time i would of picked someone local that charges a fee someone i could of talked to face to face as i do beleve now you get what you pay for.
i was tryin to get something for nothing and its back fired BIG TIME.

Correct. However, as has been debated on here many times, some brokers don't have to charge fees because their average case pays them well enough without the need to charge.

Ian_Griffiths_Halifax

koexelek wrote: »

... and many brokers are whole of market and DON'T charge a fee either

See above post, but the OP shouldn't write off using a Fee Charging Broker. You do get what you pay for, but if a broker is fortunate enough to be in a location where his average case size doesn't require him to charge a fee, then he might get lucky and get a good broker and not pay anything.

For what it's worth, with all the added work involved with an adverse credit mortgage application, I'd not do one without charging a fee. This isn't a case of taking advantage of somebodies circumstances, it's just that there's a hell of a lot more work involved, especially when you find 9 times out of 10, that you haven't been told the whole situation.

koexelek

Obviously, every broker has to cover their costs.

arkie

What business do you know of that openly critises another for charging !!! I dont make any remarks about fee free brokers, thats their business, if i charge a fee thats my business. Do you see solicitors on these boards saying dont use XYZ solicitors as they charge too much. ? No , they have too much professional respect for each other and their businesses.
In my opinion fee free brokers will NOT be here in 2-3 years as lenders will gradually reduce proc fees or even pay the broker on renewal/conduct of the mortgage account as they do in Austrailia. Most fee free brokers I know rely on loans from insurance companies ( indemnity commission) to keep them trading, soon providers will reduce these as they did a few years ago. Look at our industry, we shoud take pride in our industry
We should not be like two kids in a playground baiting each other saying " i charge less than you !!! I dont charge you do !!!!". For the record I charge, never had a problem with charging, Im not scared to charge, im not a charity. Im a professional with over 15 years experience. End of rant

koexelek

arkie wrote: »

In my opinion fee free brokers will NOT be here in 2-3 years

if the lenders had their way, no brokers would be here in 2/3 years.

Dan_1976

I would not use either. If I had to L&C but def not charcols.

I would get a recommendation from a friend and get one you can see face to face.