Mortgage for first time buyer (ni specific)

BigAndy_79

I got 6 times my salary when I applied earlier this year, yeah. I do, however, work for a major bank, as well...

grogdog

36square wrote: »

Why don't you try using moneyfacts.co.uk. It enables you to search the market using your own criteria so you shouldn't end up with a list of lenders who don't lend in NI.
Mortgage brokers are receiving fewer and less attractive offers from lenders than in the past. That might be because a higher proportion of bad loans came through them.

mortgage brokers do not get less attractive offers than can be got in house.

like an earlier poster if you have time to take a morning or afternoon of each time you go to a see a different lender rather than going once to an IFA who has access to all companies then thats fine, but you are not going to get a better deal direct rather than going to a broker.

do you not like brokers because they get a commission from the lender and you feel this is wrong? or you feel they will try and arrange something for you because of commision? this isnt the case as by and large all lenders pay roughly the same procuration fee ie around .03% so no incentive to try and get you to take out a higher rate.

and as someone has stated earlier IFA's will have alot more lender specific knowledge than you can get from a comparison site, ie someone who only has 10% go to ulster bank, if you need to complete quickly you will want to use a lender who has an efficient underwriting dept unlike the woolwich.

36square

Grogdog
I've got nothing against brokers but I do know that some lenders withdrew from the broker channel although they may be returning to it now. I know that at least one broker I've dealt with in the past has gone out of business for this reason.
I still think anybody would be better off using Moneyfacts before finding what a broker has to offer. It only takes a few minutes to do that.