New Home Mortgages Helpline...dodgy?

pheeni22

Hi,

We've agreed a sales price to buy a new build with Bellway Homes. Apparently it is their policy to refer customers to them (New Homes Mortgages Helpline) to see if they can source us a better mortgage deal. Having spent a whole day running around town, we finally decided to go with the Principality Building Society...but according to New Homes Mortgages Helpline, our rate is far too high for the LTV we have, and say we should meet their broker.

I'm now lost...on the one hand I just want to move into our new home straight away...but on the other hand, if New Homes are likely to save me a couple of £000 each month...

Any advice/experiences?

betmunch

I could be wrong but I believe the new homes helpline is part of the connells group.

Its true they may be able to find you a better deal, if its not going to hold up proceedings or cost you any money why not meet up with the guy and see what they have to offer.

Worst case scenario is you lose an hour of your life to his sales pitch then you decide which mortgage is better.

Just dont sign up for anything on the day and make sure you sleep on it before going ahead either way

Simple

ufcpride

We had the same thing, don't believe a word of it.

Just go to a high street independent mortgage adviser.

Bellway were nice as pie to us when we said we would consider the recommendation to NHMH. They even offered to though in a few incentives if we used them, but when we said that we were going to go with our own lender, things got nasty. they withdrew the incentives straight away. (albeit about £1000) when the house is £400,000, a £1000 is a drop in the ocean!

Initially we were told that they could secure a mortgage offer longer than 6 months, (not the case, they just slow the paperwork)

They then charge you all sorts (up to £300) for arranging the offer.If you expect to have a 1 hour consultation, then think again. We saw our guy twice, each time took 3 hours. on the 2nd visit, he even brought 2 mortgage application forms, 'just in case we wanted to move ahead there and then'

When i refused, he wasn't too happy, and then tried to sell us life insurance and critical illness cover. I politely refused this also.

When using NHMH we were told that the 28 day exchange datewith Bellway was just a guideline, now we are going our own route, they said that the 28 day was set in stone. As of today, we are on day 42, and still no exchange!

we are quite lucky in that we only need a 50% LTV. I went in to see Nationwide, who welcome us with open arms. £200,000 at 3.89& fixed for 3 years, free legal fees, cashback, and a few other bits and pieces.

Feel free to see them, but its far better to speak to an Independent advisor. They get their commission from the lender, whereas NHMH charge you AND take a commission from the lender!

Which site are you buying from? We are in Woodlands, so there is a good IMA in Watford, www dot imab dot com

Kyrae

Had a bad experience with New Home Mortgages too! This thread has some more info:

https://forums.moneysavingexpert.com/discussion/2253993=

Neoneo

Ignore them, i secured a mortgage with one bank but had them call me anyways to go through things. They first off told me i couldn't afford the property (in a rude looking down their nose way) then said they might be able to find a mortgage. They did, which was with the same bank i had already secured one with but at a much worse rate and higher deposit. I then told them this and they started telling me all sorts of stories about how it's illegal, won't be accepted, i can't afford the house anyways and basically just being extremely rude and trying to scare me to put everything through them.

Bunch of idiots that scare you into using their services. They are crap, ignore eveything they say and AVOID!

M_and_A

After my experiences with New Homes Mortgage Helpline, I would never use them again. I was misled and ignored, and they wasted precious time. This resulted in £ lost for me and my partner, and we are disgusted!