Countrywide

stevenandselina

Is there any reason why my mortgage broker (countrywide) wouldn't be able to offer me the same mortgage deals as quoted on the natwest website.

The deal in question is the 90% LTV for FTB over 5 years at 5.99%

koexelek

Yes. The lenders often keep their best deals for themselves these days, and won't let brokers have access to them

brightbuy

NatWest direct are offering lower rates if you are a customer, unfortunately there is nothing your adviser can do. Be aware though, you will face more bureaucracy and have to jump more hoops by using the bank direct. When things go wrong you won’t have the broker there putting the pressure on to get things sorted or decisions overturned.


A great rate is all well and good on paper, but it's worth nothing unless you have completed!

stevenandselina

thanks for the replie.

Yesterday they countrywide wanted us to sign up to a mortgage deal of 7.25% for 5 years plus £999 set up fee. I nearly feel off my chair lol. Needless to say i didn't sign and told them to look for a better deal

koexelek

brightbuy wrote: »

NatWest direct are offering lower rates if you are a customer, unfortunately there is nothing your adviser can do. Be aware though, you will face more bureaucracy and have to jump more hoops by using the bank direct. When things go wrong you won’t have the broker there putting the pressure on to get things sorted or decisions overturned.


A great rate is all well and good on paper, but it's worth nothing unless you have completed!

Also, the lender will try to blackmail you into taking all sorts of expensive insurance policies ( which you can get cheaper elsewhere)
You have to " play the game" though.
Tell them you want it all, but cancel it all and redo it elsewhere when you get your mortgage offer.
If you tell a lender up front you don't want their insurances, chances are it wil " fail their score " :rolleyes:

dunstonh

Countrywide are tied agents of Friends Prov. Dont use tied agents for anything insurance related. its more expensive than an independent or whole of market adviser.

robberbutton

I've just got my mortgage offer from Natwest today:j

At first I phoned London and Country but was able to get a MUCH better deal by going direct. L&C's best quote was 3.99%, I found 3.19% (2 year fix, 75% LTV) just by checking a best buy table and phoning the first bank on it.

I have to say everything has been very quick and smooth, and I declined all offers of extra insurance at the outset as well!

I think brokers are a good idea if you might need a bit of extra help, but if you've a good credit rating and are confident in what you're doing you should be able to get a good deal on your own.

unite79

Your right robberbutton, and a very wise choice you have made opting for a 2 year fixed deal!

Be cause in 2 years time when you come to re-look at your deal, rates will be coming down again!

robberbutton

I'm glad you think that, unite79, as I am a bit worried about not fixing for longer. But we've deliberately gone for our lowest monthly repayment option as our house needs a LOT of work, so all our money will need to go into that at the start. Fingers crossed!

unite79

I was being ironic. Sarcastic.