Broker v Yourself

shootermcgavin

dunstonh wrote: »

The remuneration method of L&C means they only consider commission paying providers. If you go independent, then those brokers can include non commission paying deals as you are paying them, not the lender. The mortgage sourcing software allows brokers to include direct deals for those that are fully whole of market and not just commission only whole of market.

Hence the comments earlier that fee basis can be cheaper than commission basis.

do you think i should call co-op direct and ask them? i dont want them to run a credit check i just want them to say if they would consider someone who wants 4.5x their salary? should i not go through london and country?

thanks

Senior_Paper_Monitor

Save yourself the phonecall - from their website:

The amount we will lend is based on the amount we believe you can afford, but as a rough guide for most of our mortgages we will lend:
For sole applications:

• 4.25 times sole income

For joint applications:

• 3.75 times joint income OR
• 4.25 times first income and 1 times second income

3 or 4 applicants:

• 2x combined income

shootermcgavin

Senior_Paper_Monitor wrote: »

Save yourself the phonecall - from their website:

The amount we will lend is based on the amount we believe you can afford, but as a rough guide for most of our mortgages we will lend:
For sole applications:

• 4.25 times sole income

For joint applications:

• 3.75 times joint income OR
• 4.25 times first income and 1 times second income

3 or 4 applicants:

• 2x combined income

thanks yeah i did notice that but it also says that ity depends on how much they think you can afford also, so maybe they would give more to someone who has no outstanding debt/commitments etc?

VIGILANT22

the co-op can only answer that.......