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MSE News: Lenders restrict cheap mortgage deals

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 ..."


  • paylesspayless Forumite
    7K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    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
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • 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?
  • jockosjunglejockosjungle Forumite
    759 Posts
    Part of the Furniture 500 Posts Combo Breaker Home Insurance Hacker!
    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

  • michaelsmichaels Forumite
    27.2K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    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...
    I think....
  • PeelerfartPeelerfart Forumite
    2.2K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    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 !
    Space available for rent
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