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A different way to get a mortgage maybe ?
pennies2pounds_3
Posts: 393 Forumite
A website has today been launched to capitalise on our bargain addiction by aiming to cut the cost of the biggest purchase most people will ever make – their home.
Mortgagebundles.com - a sort of eBay for mortgages - has entered the £300bn mortgage market and become the first ever online auction for home loans.
It is based on the concept of getting a better deal for borrowers by bundling them together in groups of similar needs and then offering lenders the chance to bid against each other for the group's business.
The theory is that if you offer lenders a £1.5m bundle of business made up of ten homeloans of £150,000, they will offer a better deal than when presented with an individual borrower.
There are 14 lenders, representing about 50% of the mortgage market, signed up to the website - including the UK's biggest building society Nationwide.
Other lenders involved include smaller regional building societies such as The Cheshire and Stroud & Swindon and specialist lender for people with chequered credit history TML mortgages. Halifax, Abbey and Northern Rock are in discussions to sign up
Perhaps martin could check this out to see if its gonna be any good?
Mortgagebundles.com - a sort of eBay for mortgages - has entered the £300bn mortgage market and become the first ever online auction for home loans.
It is based on the concept of getting a better deal for borrowers by bundling them together in groups of similar needs and then offering lenders the chance to bid against each other for the group's business.
The theory is that if you offer lenders a £1.5m bundle of business made up of ten homeloans of £150,000, they will offer a better deal than when presented with an individual borrower.
There are 14 lenders, representing about 50% of the mortgage market, signed up to the website - including the UK's biggest building society Nationwide.
Other lenders involved include smaller regional building societies such as The Cheshire and Stroud & Swindon and specialist lender for people with chequered credit history TML mortgages. Halifax, Abbey and Northern Rock are in discussions to sign up
Perhaps martin could check this out to see if its gonna be any good?
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I am a Mortgage AdviserYou 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.0
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