Deposits up to 15%!

Sagar_Fuzz

herbiesjp wrote: »

And that rate has now gone as well

Do the websites show rates not on offer, then? I see a few 10% deposit mortgages, such as on RBS, but if I apply will they be gone, I wonder?

Royalties: 5 Year Purchase Fixed Rate6.14% fixed
until 31/01/2014
6.69% variable6.8% APR90% property value

• Overpay 10% per year without incurring an early repayment charge
• Product fee £299
• Early repayment charge applies until 31/01/2014
• Minimum loan £25,000
• Only available for new and existing customers purchasing a property

5 Year Purchase Fixed Rate6.24% fixed
until 31/01/2014
6.69% variable6.8% APR90% property value

• Overpay 10% per year without incurring an early repayment charge
• Product fee £499
• Early repayment charge applies until 31/01/2014
• Minimum loan £25,000
• Only available for new and existing customers purchasing a property

herbiesjp

Their website should be up to date

If you think those deals are right for you, then go for it

Sagar_Fuzz

herbiesjp wrote: »

Their website should be up to date

If you think those deals are right for you, then go for it

Thanks Herbie, you've been a star!

Sagar_Fuzz

minimike2 wrote: »

Who is to say what is competitive when there is next to no competition.....


I recently arranged a 90% deal with RBS. 5yr fixed 6.79% £999 fee.

Is that "competitive"? Since it was the only product available to the client, I would say it was as it had no competition. It all comes down to what someone is willing to pay to get the product they need.

I agree - every one keeps saying what a great time to buy it is, and it is true house prices are dropping (everything we've seen so far has dropped by at least £10K in four months- today I've been invited to look at a house that's dropped by £41K - must be something awfully wrong with it!). However, the financial side is getting worse and worse - we only just got our house savings out of Kaupthing, and if they start asking for 20% deposits, we're out of the game entirely.

All in all, I'm starting to wish it were more stable, even if prices were a little higher...

manikm

Sagar_Fuzz wrote: »

Hi,

Yes, he is whole of market, and no fee. I have found a Natwest mortgage for 10%, and asked him about it - he seems to thinnk lots of offers are not coming through brokers anymore. I don't know what to think, as there seems to be a lot out there for 10%.

I thought using a broker would mean I wouldn't have to search so much for myself, but it seems I can't rely on him as I'd like.

what i dont get - is that whole of market brokers, arent whole of market - i.e my broke was supposed to be whole of market (unless i misunderstood) - but he couldnt go through HSBC, Brittania etc....?

either i've misunderstood, or its one to beware of, to the borrower>?

Sagar_Fuzz

manikm wrote: »

what i dont get - is that whole of market brokers, arent whole of market - i.e my broke was supposed to be whole of market (unless i misunderstood) - but he couldnt go through HSBC, Brittania etc....?

either i've misunderstood, or its one to beware of, to the borrower>?

"Whole of market" means - all deals that are available through brokers. Some banks etc do not offer through brokers, such as HSBC, Natwest etc. Ask your broker what banks and building societies he CAN'T offer, and read Martin's guide.

I agree it is misleading, as it is a technical term that is different to the actual english meaning. But this is the society we've created!

jamtart6

Dear oh dear cash is going to be king!! That means we'll need around £20k deposit, no wonder most of my friends are renting! hope you find something OP

minimike2

Whole-of-Market doesnt even have to mean EVERY deal that ledners offer through brokers unfortunately. If a broker has a "panel" of say 30 lenders, if they represent enough sectors of the market, its whats called "representative" of the "whole-of-market", so they can still be called WOM.

It is something I would like to be seen changed as it does mislead clients.

I always advise when I do my IDD that I am "Whole of Market" but also that I cannot deal with lenders such as HSBC, Egg, First Direct etc. Most people arent bothered, but I do occasionally lose business, but I have often won referrals off the back of the ones who end up going to HSBC....honesty is the best policy!

Sagar_Fuzz

minimike2 wrote: »

Whole-of-Market doesnt even have to mean EVERY deal that ledners offer through brokers unfortunately. If a broker has a "panel" of say 30 lenders, if they represent enough sectors of the market, its whats called "representative" of the "whole-of-market", so they can still be called WOM.

It is something I would like to be seen changed as it does mislead clients.

I always advise when I do my IDD that I am "Whole of Market" but also that I cannot deal with lenders such as HSBC, Egg, First Direct etc. Most people arent bothered, but I do occasionally lose business, but I have often won referrals off the back of the ones who end up going to HSBC....honesty is the best policy!

I asked my broker all the questions Martin advsied, including - which lenders CAN'T your offer me. My broker asked me if I worked in 'the business' as he had never been asked all these questions before.

Just another thing to thank Martin for...

Peelerfart

Sounds to me from what I've read SagarFuzz that, if I'm being polite, your broker may not be one of the best.