Martins View On Using Mortgage Brokers...

homer_j_3

Andy cannot give you advice based on the information you have given - you seen aware of this anyway which is good!.

If you have any specific questions with regards to any confusing information then the best bet is to start a new thread and I am sure you will get plenty of helpful responses.

AndrewSmith

Hi,

Have only just read this thread.

Homerj is right, I cannot give any advice based on the information given, and you should never treat anything posted on these forums as 'advice' merely guidance.

Thanks

Andy

suzy.johnston

This is my first time posting here, although I frequently visit the site for advice. I followed Martin's advice and applied for a remortgage through L&C. (Our credit history isn't perfect, but we have never missed a mortgage payment and are looking for roughly a 70% LTV) However it has turned into a fiasco. They initially and very quickly, recommended a good deal for which we were declined, and now one further refusal and eight weeks later we are still without a mortgage offer. I lost the rag a couple of weeks ago and asked them to send all my documentation back, however they talked me out of it and I filled in yet another application form for another product at the beginning of last week. As yet I still have had no positive news and am becoming totally stressed out. Has anyone else out there had poor customer service from L&C. Any advice on what I should do next? Why is it taking so long? Look forward to any comments. Thanks

homer_j_3

Suzy

I am very sorry to hear about your bad experience withe L&C. There has been mixed feedback about the company on here so you are not alone.

It may be best to start a new thread for your question but if you have lost faith with them and you are not liking the non face to face contact then I would recomend you find someone that can give you the service you require. Without knowing where L&C are with your application or who they are doing ot through, nobody will be able to advise as it could be lender service levels that are the issue rather than L&C

It is frustrating I know and you seem to have had a patience of a saint!!

suzy.johnston

Thanks homer,
I think if I don't get some results this week, I will have to go elsewhere - time is money after all. I will also start a new thread (if I can figure out how to!!)

homer_j_3

easy. click new thread button at the top left of where all the posts are when you come into the mortgage board

kenshaz

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Thanks everyone,
I have received an agreement in principle this morning, will keep you posted


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The_Loan_Voice

Hi All,

This is a first post for me so be gentle with any replies.

I know this topic has been covered at great length but I can't find any direct reference to the point I'm about to make, so here goes:

I have a major concern with one of the points Martin raises in his Sneaky Mortgage Advice for Free item and its this:

Firstly, I totally agree with Martin that to shop around a number of brokers to find the most suitable deal for you is absolutely the right thing to do, but to then go to the broker that offers to complete it for the least cost can be a very very bad idea.

Why's that? I hear you gasp... could it be that this man is just another greedy mortgage adviser banging his own drum about how good he is whilst ripping off the public? Well, I am a mortgage adviser and have been for many years, but I work fees free, so you would think anybody landing at my door with a mortgage already chosen would be easy money for me, and you would be right, it is. Whats wrong with the scenario is this; when I work with a client to select a product it is an ADVISED SALE i.e. I choose the product and give best advice etc. and as such the client has the full protection of the FSAs' MCOB rules and redress through the ombudsman if it all goes Pooey.

However, if you turn up with an already chosen product and say to me I want you to complete this Mortgage for me, I'd be delighted to help but it would be a NON ADVISED SALE i.e. execution only, no advice given, therefore you would lose all of the protection relating to the selection of the product and its suitability for your purpose-in other words no compensation, exactly the same as if you choose the product yourself and went directly to the lender defeating the point of using a broker in the first place.

:beer:

The Loan Voice

payless

welcome...
these points ( and others) have been raised before - but still valid

even touched on today on http://forums.moneysavingexpert.com/showthread.html?t=277581&page=5

chekhov

well, that's all right then:clear as mud!