Mortgage Broker Fears

donna_duck

Hi all,

2 weeks ago our estate agent told us that she could not find us a mortgage eben though she is a whole of the market advisor as we had a default on our credit files from 5 years ago which makes us a high risk customer and my DH has a CCJ from 5 years ago also.We have had a bad credit rating but have worked hard to try and rectify these things but due to them lasting 6 years there is nothing we can do.
Last week we got a telephone call from a company (not sure if i can name them or not) saying that they would be able to get us a mortgage. The advisor came to see us and told us that we had been approved by Abbey or Santander to remortgage our house and get us away from SPML who are an adverse lender who we are currently with.
The abbey rate is 2.69% on a tracker and looks ok BUT i have looked at the charges and the Broker fee is £2995. MEGA BUCKS and RIP OFF.
If they have managed to get us approved for this if i go to Santander direct will we still get approved and miss out the Broker fee.??? or is this fee a huge price to pay to get back onto high street lending.??

Peelerfart

Might be worth talking to an IFA.

i.e.
not one tied to any estate agent or companies who have got your details via estate agents.

Conrad

Make sure any fee is only due on legal completion as there are lots of scams where people claiming to be brokers take up front fees knowing full well the mortgage is'nt doable.

Call Abbey direct and see if they have a record on thier system of an agreement.