Best Mortgage Lenders Out There?

Atomic_guy

Hi all,

I am a FTB and I am looking at a property at the moment. Soon I'll be
looking for a mortgage. In principle I have woolwich through Barclays
given me some figures. Also Dixons EA and Green EA had a browse
on their panel of lenders. But I am not sure who I should go with.

Any recommendation of lenders for FTB. I am looking to borrow about 120K.

Wh05apk

No such thing as a "best" lender, only most suitable for your circumstances.

Abbey are pretty good at the moment, the rates are not the best, but if you go for a deal with low fees, free val and cashback, they compare very favourably, depending on income etc, they can also be more generous relative to income.

originalmiscellany

What's your deposit? That's a key question

kingstreet

Atomic_guy wrote: »

Hi all,

I am a FTB and I am looking at a property at the moment. Soon I'll be
looking for a mortgage. In principle I have woolwich through Barclays
given me some figures. Also Dixons EA and Green EA had a browse
on their panel of lenders. But I am not sure who I should go with.

Any recommendation of lenders for FTB. I am looking to borrow about 120K.

As you've mentioned Dixons and Green & Co, I assume you're in the West Midlands?

Obviously you know Barclays is only going to tell you about Barclays products and services, so you'll be offered only a Barclays mortgage and Barclays insurance products. Woolwich is now, sadly, just a Barclays brand name.

Dixons is part of Countrywide, so you'll get mortgage products from a small panel of lenders who pay them commission. Plus, you have to pay a £199 fee to them when your mortgage completes. For insurance, Dixons is tied to Countrywide for things like life and health cover.

Green & Co. doesn't say much on its site. It says;-

We do not charge a fee for our mortgage services. However as independent mortgage advisers we do offer a purely fee based option of up to 1.5% of the loan amount.

I guess we can conclude whole market advice is available and there is an option of a commission-based recommendation or of an independent recommendation with a fee payment.

The firm is tied to Legal & General for life and health insurance products according to the FSA Register.

Of the firms you've mentioned, Green & Co appears to offer the widest advice, although I'd prefer to see a choice of commission, commission rebate with fee option and the fee only option.

For the protection side, none of them offers independent advice, so the choice of fee or commission isn't applicable. Again, I'd suggest you look for independent advice for these products.

Try searching https://www.unbiased.co.uk for independent advice in your area.

Wh05apk

kingstreet wrote: »

Try searching www.unbiased.co.uk for independent advice in your area.

I wouldn't put too much reliance on "unbiased" as for a decent listing it is a paid for site, so therefore it cannot really be "unbiased", try google etc, or even better referrals from friends/family etc.

Atomic_guy

originalmiscellany wrote: »

What's your deposit? That's a key question

Hi, At the moment I havent got a definitive amount as a deposit. But
I think I can pull out about 40K.

But for sure I know at least I need to produce 10% of the sold price
of the property as a down payment. I can do that when the property
is bought.

Atomic_guy

kingstreet wrote: »

As you've mentioned Dixons and Green & Co, I assume you're in the West Midlands?

Obviously you know Barclays is only going to tell you about Barclays products and services, so you'll be offered only a Barclays mortgage and Barclays insurance products. Woolwich is now, sadly, just a Barclays brand name.

Dixons is part of Countrywide, so you'll get mortgage products from a small panel of lenders who pay them commission. Plus, you have to pay a £199 fee to them when your mortgage completes. For insurance, Dixons is tied to Countrywide for things like life and health cover.

Green & Co. doesn't say much on its site. It says;-



I guess we can conclude whole market advice is available and there is an option of a commission-based recommendation or of an independent recommendation with a fee payment.

The firm is tied to Legal & General for life and health insurance products according to the FSA Register.

Of the firms you've mentioned, Green & Co appears to offer the widest advice, although I'd prefer to see a choice of commission, commission rebate with fee option and the fee only option.

For the protection side, none of them offers independent advice, so the choice of fee or commission isn't applicable. Again, I'd suggest you look for independent advice for these products.

Try searching www.unbiased.co.uk for independent advice in your area.

Yes I am in the Midlands.

I've had dixons estate agent and Green and CO gave me some advice.
But Green and CO havent been quite through, they just told me when
I find a property and offered is accepted then they'll get to the business
of finding me a lender. But I rather know the lender and their business
then later after the offer is accepted so that everything is seen in place.