Interest rates in ten years?

v.rajput

Wow what a wicked thread!!!

Im currently on a term tracker +.89%, so i pretty happy right now: but am saving the money as hopefully we will move when the Sh*t sorts itseld out or pay the mortgage off early.....but thats another forum.

If someone could just lend me some money, find a 3-4 bed house, get me my asking price, with excellent schools,ensure that i was not going to be made reduntant, i would really appreciate it!!!

thanks fellas for a intresting read!!

vj

JayZed

Since this thread seems to be focusing on why it's good to use mortgage advisers, a question for minimike (which I'm asking without any kind of agenda or axe to grind, I'm just interested to know).

In terms of deciding what kind of deal is best for me, and understanding the terms and implications of the deal, I have absolutely no doubt that I can make that decision myself, without advice from an expert (I'm speaking for myself here - I realise that people have varying degrees of financial literacy).

My question is whether professional mortgage advisers are normally in a position to get their clients better deals (in terms of lower fees/rates) than those that are available on the open market. I understand this to be the case in theory, but it hasn't been my experience in practice. (Is a mortgage adviser the same as a mortgage broker?)

v.rajput

ive only had the one mortgage and remortgaged when i came out of my fixed: i have found the M. advisor, has not only found a better deal (at a fee) but also got the banks in to lend the money as when i went direct to them they never.

But recently(as i am thinking about moving) i also found with Charcol that the deals advetised in there tables. were not open to me.

i hope i am in the same playground with my thread
vj

prowla

opinions4u wrote: »

17 years ago I was paying 15.4% on my mortgage.

And we were better off with it!

minimike2

JayZed wrote: »

Since this thread seems to be focusing on why it's good to use mortgage advisers, a question for minimike (which I'm asking without any kind of agenda or axe to grind, I'm just interested to know).

In terms of deciding what kind of deal is best for me, and understanding the terms and implications of the deal, I have absolutely no doubt that I can make that decision myself, without advice from an expert (I'm speaking for myself here - I realise that people have varying degrees of financial literacy).

My question is whether professional mortgage advisers are normally in a position to get their clients better deals (in terms of lower fees/rates) than those that are available on the open market. I understand this to be the case in theory, but it hasn't been my experience in practice. (Is a mortgage adviser the same as a mortgage broker?)

Hi

If you can make the decision yourself then thats fine. It never hurts to get an experts opinion on it too.

Historically, if you already know what you want are are 100% sure, then yes a broker would have been best placed to find you the cheapest deal. That is pure broking, no real advice being given.

Unforunately now, a lot of the cheapest deals are not available to brokers, so it can be better to do it yourself, only if you are 100% sure of what you are doing.

The alternative is to see an "independent" mortgage adviser and pay them a fee to search deals that are not available to brokers. Many people do this as the adviser still provides support with the application. Some people see it as a waste of money, some as a valuable service.