is applying online/phone the same as in branch?

longwalks1

am close on deciding on a new mortgage and wondered if applying online is the same as in branch or on the phone? Jut thought dealing with such large sums of money it'd be better in person, in branch? Or are all applications dealt with the same no matter how they're submitted

Thanks in advance

Silvafox

This was discussed amongst a credit card thread recently. It appears that applying in branch is done slightly differently for some banks. Have a read through this thread and you'll pick up on JasX talking about it and myself.

https://forums.moneysavingexpert.com/discussion/comment/41848824#Comment_41848824

For a mortgage, I would personally do it in branch.

hcb42

I just did it over the phone fairly recently, was much easier, was able to get the call a lot sooner than I could have got to branch together with OH. It didnt seem any difference to me - although fairly low LTV , if it was borderline, I might have presented myself in person

dwsjarcmcd

britishboy wrote: »

am close on deciding on a new mortgage and wondered if applying online is the same as in branch or on the phone? Jut thought dealing with such large sums of money it'd be better in person, in branch? Or are all applications dealt with the same no matter how they're submitted

Thanks in advance

It will depend on the lender but the decision making process should be no different. In reality it will depend on your own confidence in such matters and whether you need any help in deciding the product you want. If you don't then I don't really see a downside of applying online.

One upside is that you will not be subjected to heavy sales pressure to buy overpriced Life Assurance, Home Insurance and Payment Protection. If you need these products you will get a better deal shopping around.

dunstonh

It will depend on the lender but the decision making process should be no different.

It can be. Back in my banking and mortgage days, the C&G branches had different lending criteria to Lloyds and different again to TSB. C&G were generally more flexible. The phone side had the least discretion. Not saying it is the same now as a lot of that had to do with track record of the branch and staff member.

dwsjarcmcd

dunstonh wrote: »

It can be. Back in my banking and mortgage days, the C&G branches had different lending criteria to Lloyds and different again to TSB. C&G were generally more flexible. The phone side had the least discretion. Not saying it is the same now as a lot of that had to do with track record of the branch and staff member.

But your talking about different brands which I think is slightly different. I think that the lending mandates of Bank Managers of years gone by have pretty much been replaced by the computer!

dunstonh

dwsjarcmcd wrote: »

But your talking about different brands which I think is slightly different. I think that the lending mandates of Bank Managers of years gone by have pretty much been replaced by the computer!

This was C&G days. All had the same C&G mortgage deals but the discretions were different.

It was a while back though so I do accept that discretion ability may not be what it used to be.

ripon12

done mine in january over the phone with hsbc no problems and had offer within a week although i did have to visit local branch with id as i wasnt a customer

JQ.

Our last mortgage was all done over the phone and internet with First Direct. All very simple and had fantastic service ever since - we also swapped bank accounts as we have an offset mortgage.

longwalks1

Thanks everyone, how does this mortgage look/sound:

Lifetime Tracker

Max LTV: 80%
Current interest rate: 3.38%
£0 set up fee

jonusb4

Only when we have our own ideals, can