remortgaging

mhibbard

i need to remortgage. my 2 preferred options are as follows: 1 - call charcol, go see them, let them sort it out for me. 2 - buy a decent broadsheet, look at top 5 remortgage deals, call first and second recommended providers, go with best. any advice on which approach is best and why? or why both are naff approaches? cheers, mark.

Ian_W

Both naff IMHO Mark.
1. AFAIK Charcol use a panel of lenders, not the whole market and charge a fee for face to face advice.
2. BB tables whether in a broadsheet or tabloid are usually compiled by not by journos but by brokers like ... charcol, whether they truly reflect the the whole of the market or not you've got usually got one fixed or discount or capped for 2yrs, one for 3yrs and so on. To get to the top some lenders charge a low int rate but VERY high fees so dependant on the level of your mortgage they may be a far from best buy for you.

I suggest you navigate to the mortgage section of the site and read martin's remortgage guide. Ideally you should go with a fees free whole of market broker, recommendation from family or friends is usually best. Also don't forget to check lenders who don't work through brokers. Britannia, YBS, Direct line, ING and IF spring to mind.

HTH.

herbiesjp

Ian_W wrote:

Both naff IMHO Mark.
1. AFAIK Charcol use a panel of lenders, not the whole market and charge a fee for face to face advice.
2. BB tables whether in a broadsheet or tabloid are usually compiled by not by journos but by brokers like ... charcol, whether they truly reflect the the whole of the market or not you've got usually got one fixed or discount or capped for 2yrs, one for 3yrs and so on. To get to the top some lenders charge a low int rate but VERY high fees so dependant on the level of your mortgage they may be a far from best buy for you.

I suggest you navigate to the mortgage section of the site and read martin's remortgage guide. Ideally you should go with a fees free whole of market broker, recommendation from family or friends is usually best. Also don't forget to check lenders who don't work through brokers. Britannia, YBS, Direct line, ING and IF spring to mind.

HTH.

Hi Ian

Probably just a slip - IF do work through brokers

Ian_W

Thanks herbies,
Was typing to a deadline - my Tea!! - what I really meant to say was "if memory services me right" - on this occasion it obviously didn't!!

I am right that charol use a panel of lenders though rather than being complete whole of market, am I?

AndrewSmith

Ian_W wrote:

Thanks herbies,
Was typing to a deadline - my Tea!! - what I really meant to say was "if memory services me right" - on this occasion it obviously didn't!!

I am right that charol use a panel of lenders though rather than being complete whole of market, am I?

Correct,

They operate from a panel of 36 lenders and charge for an advised service.

herbiesjp

Ian_W wrote:

Thanks herbies,
Was typing to a deadline - my Tea!! - what I really meant to say was "if memory services me right" - on this occasion it obviously didn't!!

I am right that charol use a panel of lenders though rather than being complete whole of market, am I?

Rest of it spot on as usual

You should see my typing and spelling go down the drain when my tea is getting ready!:rotfl: