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Do I need to go through a broker?
suzieq
Posts: 247 Forumite
My OH is due to remortgage next month, though he's not very financially minded, so has asked me to look into it for him.
My question is whether or not I need to use a broker, or if we can do this ourselves? I'm no expert though, so what should I do? How long does the whole process take?
Thanks
Suzie
My question is whether or not I need to use a broker, or if we can do this ourselves? I'm no expert though, so what should I do? How long does the whole process take?
Thanks
Suzie
If you have good thoughts, they'll shine out of your face like sunbeams & you'll always look lovely.
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Comments
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You can do it yourself. However, do you know what you want, what is best and how you go about it?
It can cost you nothing to use a broker. So, if you dont know what you are doing, why even consider not using one.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Suzieq
I think this thread might help-
http://forums.moneysavingexpert.com/showthread.html?t=183138
Or for a slightly more opinionated view see my signature.
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
You can indeed do it yourselves.
However, by the questions you are asking, it may be that a whole of market mortgage adviser would be best for youI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hi Suzie,
Why not find yourself a good deal, then take it along to a broker and see if they can do better. Ask them why their recommendation is better than your initial deal. You will get a great mortgage and a little bit of education along the way. Then next time you come to look for a mortgage, you will be telling the same good broker you used last time what it is you want...
MMI am a Mortgage Adviser
You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks to you all.
Nope, all the info I have is from The Money Diet and here.dunstonh wrote:do you know what you want, what is best and how you go about it?
I did start to read this, but other than Martin's advice at the top, I found it very confusing.stanmoresaver wrote:I think this thread might help
Since my original post, I have been onto https://www.unbiased.co.uk and emailed 2 of the IFA's with brain picking questions, so I should hopefully get the info I need, and then decide what I want to do. Not sure if I'd be confident enough in myself to do it alone. And yes, you're right herbiesjp, I am looking for a whole of market one.
Oh, just seen your post too MM - great idea, sounds like just what I need to do!If you have good thoughts, they'll shine out of your face like sunbeams & you'll always look lovely.0 -
MAke sure the IFAs you choose have the right authorisation to offer whole of market advice for mortgages - being an IFA does not automatically mean that they offer thisI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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herbiesjp wrote:MAke sure the IFAs you choose have the right authorisation to offer whole of market advice for mortgages - being an IFA does not automatically mean that they offer this
Absolutely!!!
And also the experience.
SSI am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
That's exactly the first thing I've asked, and if not, I'm not interested!
If you have good thoughts, they'll shine out of your face like sunbeams & you'll always look lovely.0 -
You need a mortgage broker not an IFA. I have a very good IFA but I wouldn't dream of consulting him over a mortgage and nor would he expect me to.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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