MSE News: Lenders restrict cheap mortgage deals 13 July 2010 at 5:49PM in Mortgages & endowments 5 replies 1.5K views

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"Over half of home loans are not available via brokers, compared to less than a quarter three years ago ..."

Read the full story:
Lenders restrict cheap mortgage deals

payless

Wonder if we will see one of the big national brokers announce a new " research" service ? ...

Direct deals have been hard to beat for last 2 years ( does not matter how many mortgages available it how many of the best buys of various types) , almost all my residential business has gone to direct cases

LittleMissAspie

I wouldn't say that's "restricting" them. It just means you have to bother to do some research yourself. Who would spend hundreds of thousands without doing their own research anyway?

jockosjungle

To be honest how many brokers wouldn't tell you the truth and make up stories like "HSBC only approve 1 in 10 people" and even Martin said a broker can push a mortgage through better than you can. I think the truth is we now live in an age where we can sit at our PC and do a couple of hours research and check out a large number of providers many of which will provide a better deal than a MA could.

Its whether you need that extra hand holding, have maybe had a mobile phone contract default, etc. where an experienced adviser can help you out.

Truth is many advisers are pretty unscrupulous, take any in a large chain EA for example who check out 10 lenders but use strong arm tactics to force you to use them,.

Hopefully the better MA will thrive and its time that the dodgy ones can pack in

R

michaels

Don't know who did the comparison table but over the 2 year deal period the HSBC discount costs about £2100 less than the A&L one (not £256), I haven't checked any of the other figures...

Peelerfart

LittleMissAspie wrote: »

Who would spend hundreds of thousands without doing their own research anyway?

Stand by to be amazed by people's lethargy - there are plenty out there who would do exactly that !