Mortgage Rate Question

SteveStone

Hi all, I have been offered a mortgage through Countrywide Mortgage services who have recommended i take out a 5 year fix with Natwest at 7.25% witha 10% deposit. My question is that on the Natwest website there mortgages offer a rate of 6.49%. Am i missing something?

Any help or advice is welcome?

Steve

poppy10_2

Try bypassing the broker and applying direct on the Natwest website.

Do you have a bad credit history?

SteveStone

I have a good credit history. My wife does have some CCJs from about 5yrs ago. would these make a difference? Do you think the offers online are only available if you go direct? If i try and change now will it hold up my house purchase?

Thanks

betmunch

NatWest dual price, meaning they currently have better offers available in their branch than is available to brokers.

Sadly Countrywide do not have access to the 6.49% deal available as the best NatWest will let them offer you is the 7.25%.

If you go it alone and try NatWest yourself you will get a cheaper mortgage, but if you take the more expensive one from Countrywide you will have a broker pushing through the sale for you.

As yourself if the difference in price is worth the extra service you will recieve by using a broker, if it is not I think you know what you need to do.

With regard to the CCJ's, if you have been accepted through Countrywide, then you should not have a problem being accepted if you go direct.

Hope this helps

samay007

Hi Steve, have you offered for the property with Bridgfords/ Beresford Adams? if so then Countrywide mortgages will try to sell their mortgages. i would advice to go directly with lenders if you have good credit report or you can also look for Independent financial adviser who have access to whole of the market deals rather than going with countrywide (they are limited..) how many CCJs does your wife have? do you have account with Natwest??? currently Natwest (5.99%) and HSBC have good deals for 10% deposit. through broker C&G have 6.59% deal for 10% deposit (WOM)

SteveStone

Thanks guys,

I think i'm too late to do anything about this. I only looked into the deal as my brother-in-law had exactly the same sittuation with being quoted the same figures, then going to a different agent and getting the better deal. I think i am too far along now to start changing as we are supposed to complete in the next week.

samay007, I went through the same company i used when purchasing my current property as i was pleased with the service. I am buying the property from a different agent. I'm not a Natwest account holder. I'm going to call my solictors to find out whether it is too late to make any changes..

Thanks all

betmunch

Its not too late until you exchange contracts, I would, however, be very careful about upsetting your seller as having to wait for a new mortgage offer to be produced could upset them and they may pull out of the sale.

Let us know how it goes

Cheers

TEDDYRUKSPIN

LOL. So expensive. Try HSBC. Currently the best 90% LTV deals out there.