mortgage - bank or broker?

herbiesjp

payless wrote:

Whilst I commented on research, I feel my arguements stand for all ares of the advisory process / case processing also .

If a broker is busy they will just work longer ( or harder ..... instead of being here!).. its all down to the model one chooses ( or needs to choose), and I'm sure we are all capable of accepting other models, and adapting our own when required. Can't say I've ever felt I not given what a client ( who I have agreed to act for) wanted , service wise . I'm more likely to decline new clients than be over streched

Agreed Colin - it's horse for courses.

IT's what works for you at the end of the day. There is room for every sort of communication/business channel - be it charging fees or not

AndrewSmith

herbiesjp wrote:

Agreed Colin - it's horse for courses.

IT's what works for you at the end of the day. There is room for every sort of communication/business channel - be it charging fees or not

Hear Hear

:beer:

MortgageMamma

Sorry can't respond anymore, colin says I have to work harder so I don't have to charge a fee;)

HelpWhereIcan

paula_j wrote:

WOW that was quick!!

I need a morg for fifty grand ive got around 9 grand debs.
Do you think i could get a mortgage and add my debts on to it?
I earn around £12600.

This is quite possible and, as Andy has said, there are lenders who will consider the equity that you have been 'gifted' as part of the concessionary purchase as a deposit, meaning you may get access to rates that are more competitive than 100% deals.

Have a word with a whole of market broker (fee free or not :rolleyes: ). Choose one by reccomendations from friends and/or local directories, making sure that you ask the questions suggested by Martin about their access to lenders etc.

MortgageMamma wrote:

I was talking predominantly with the customer service side of things that can easily be prioristised incorrectly when not charging a fee. some clients, first time buyers and adverse cases especially, or even those remortgaging through a martial split or whatever, need their hands holding and a lot more advice and reassurance than others. Some clients think they should ring you every other day thinking it will make the mortgage complete quicker, some just struggle with the maths and the insurances - I just want to be there for my clients, when they need me, for as long as they need me, and thats why I charge a fee - to get a good earning from each case so I dont need to take on as many clients, and to look after them as best I can.

That's why I have invested in the best CRM software I could find, it helps me and my PA prioritise and diarise things correctly, my PA has access to my log ins to check online tracking and all customers are diarised for a call from us twice a week, and sometimes get texts and emails as updates. IMO time management is the thing.

After all, whatever our opinion of L&C (I am actually quite keen on parts of their model), they charge no fees and have come to be one of the largest brokers out there and must be making a living for someone!!!

Oh God, I promised myself that I wouldn't get involved in that part of the discussion, but couldn't help it.

paula_j_2

Going to see broker later,il let you know what he says!
Thank you so much for the help everyone.

paula_j_2

Hi , ive been offered from Northen Rock 6.29% fixed rate for 3 yrs repayment mortgage costing me £364.07pm
This is for £59,000 (loan and CC on top)
Does this sound ok?

Joe_Bloggs

It sounds like a joke to me. What kind of gimick is the CC ? Does it say convicted bank robber on your credit report ?
J_B.

stanmoresaver

paula_j wrote:

Hi , ive been offered from Northen Rock 6.29% fixed rate for 3 yrs repayment mortgage costing me £364.07pm
This is for £59,000 (loan and CC on top)
Does this sound ok?

More importantly- did you feel comfortable with/ trust the adviser?

herbiesjp

stanmoresaver wrote:

More importantly- did you feel comfortable with/ trust the adviser?

Agreed - and so you opted to go for the 100% mortgage route?

paula_j_2

What do you mean Stan?
I felt comfartable with him ,OMG im warried now!
Is it a crap morgage?