mortgage broker v DIY

bug_bloke

So I'm in the process of finding a mortgage. Checked out the rates myself and then planned on going through a broker to sort out the application.

Found ING to be the best and I've heard good things about their application process. Then tried to get some quotes from London and Country. So far in the last two days they have promised to call me and haven't twice, then the broker I was dealing with went on holiday and I had to go through all my details again with another broker. All the broker could find out was a worse mortgage deal than ING. I told him about the ING one, he eventually realised it WAS a better deal for me because he originally had incorrect information about the deal. He also ignored another mortgage because had wrong information. Basically I found 3 better mortgages than he did.

Now the question is do I stick with the broker so he gets £500 commission (I asked how much he would get), or do I go direct and ING keep their £500, or is their a good commission sharing broker I can use?

dunstonh

Now the question is do I stick with the broker so he gets £500 commission (I asked how much he would get), or do I go direct and ING keep their £500, or is their a good commission sharing broker I can use?

Perhaps ask an independent mortgage broker on fee basis of £500 what mortgages they have available. Independents will include non commission deals. The £500 fee may give access to deals which save you more than £500 over the term of the deal. You need an independent mortgage broker to do that. Not a whole of market one.

jkerr86

stressed_out_dad wrote: »

Im in a similair position although i was able to get myself a better deal than my broker could get me im now with the underwriters due to random checks on applications seemingly and wandering if im able to pass my application over to my broker to work on my behalf as the builders pay for this service anyway its just i saved myself 60-70 quid a month without him,so is it possible to hand over to a broker at this stage ?

If I were you I'd just get in touch an ask. At the end of the day, they will still be getting money from you even if they pick it up at this late stage.

I spoke to my broker tonight who seems positive they can get me a deal, although it's slightly higher than I would pay a month if I'd got a deal myself but they have more bargaining powers than me