London and country? any good

babybakey

Hi ,
Hubby and i have decided to sell up and are about to sort out how much we can get etc we have an "in principle" letter etc but i wanted to call them again and check if he's worked it out with us paying our over draft back forst or with it included so we can clear it on the day of the moove as we can't do it before im sure.

I'm wondering if anyone's used London and Country? they seem good , they say theyre whole of market and i wanted to check if others have had a good experience with them.

Is it me or is selling much more scarier when youve had children? i dont think i worried half as much last time! lol

babybakey

Sorry for the shockingly bad spelling there im doing 3 things at once but that was seriously bad spelling :-]

STAR_BUCK

We've just used london nd country to secure a buy to let mortgage and they were fab. Very nice mortgage advisor, and the whole process was relatively straight forward. I will certainly use them again

nearlyrich

We used them several times to remortgage way before I started using this site, my DD has used them recently they still do a great job give them a try.

babybakey

Thanks for letting me know starbuck and nearly rich. We filled out the money supermarket questionnaire and they were who called the next day the guy seemed so nice it almost seemed too good to be true.

I will call them back tomorrow and get things sorted. Fingers crossed i'll soon be on here asking about moving day issues :-]

nazjon

I used them to remortgage but they didnt find me a better deal than I could get with my current lender...however they were very nice and professional and would use again!

kingstreet

In some cases, using an independent broker may be preferable to a whole market adviser.

Whole market advisers may only select from lenders and products which pay them a commission, while an independent may agree a fee with you and pay to you any commission he receives. If a direct to lender product is better for you, the independent will tell you if that is better as you are paying a fee for the advice.

Here's an example;-

you see a whole market broker looking for a 25 year repayment £150k mortgage on a £200k purchase. You want the best five year fix, regardless of fees. You agree the broker will take commission on any arranged mortgage.

He finds you an Accord Mortgages product at 4.44% fixed until 31/08/2016 at £828.65 per month. The broker will receive commission of £487.50.

You then see an independent broker who agrees to charge you a fee of £299 and to pay you any commission he receives on any arranged mortgage. He also looks at direct to lender deals and explains that in this case, you may get the best deal, but no commission rebate.

He finds you the Accord option, but as you have a fee agreement, he tells you the commission rebate would be £487.50, leaving you £188 better off.

The best overall deal is Yorkshire Building Society's 3.99% fix until 30/09/2016. The monthly payment is £790.93. This is a direct to lender product, so no commission rebate. You've paid a £299 fee, but in doing so, the monthly cost of your mortgage has fallen by £37.72 against the Accord option, saving you £2,263 over the five year fixed term.

I'm sure someone will point out that you can save £299 by finding the best direct deals yourself and that is true. If you have the time and inclination to do that, why bother with a broker at all?

Not sure what L&C do. Just pointing out the difference in general here.

babybakey

WOW that's a lot to take in. London and country dont charge a fee but they do the direct deals too.

were looking at borrowing £155k over 35yrs and have a 40k deposit. I will have to update tomorrow with the info i get when i call them back.

Thank you again for taking the time to help i appriciate it !

kingstreet

babybakey wrote: »

London and country dont charge a fee but they do the direct deals too

Wow. That would be truly incredible if they did. They introduce you to lenders who pay them nothing, when you pay them nothing too?

dunstonh

WOW that's a lot to take in. London and country dont charge a fee but they do the direct deals too.

Are you sure? They never used to include any non-commission paying deals.

You have to ask yourself if they are not receiving commission, then how are they getting paid? Also, if they are including non-commission deals, then why are they not calling themselves independent? They call themselves whole of market.

babybakey

perhaps i got it wrong then , he did say they do the deals from the normal banks etc it was a quick call and not in depth so perhaps i didnt get what he meant right.