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Abbey mortgage deal - only through intermediary?

theboyjb
Posts: 18 Forumite
I am about to apply for a mortgage. I have looked around very hard and have pretty much decided exactly the product that I would like.
The product is with my existing lender (Santander/Abbey) but they do not appear to offer it directly to customers, only via intermediaries. The difference amounts to a 0.3% discount on the interest rate for the life of the mortgage. Obviously, I would like to have the lower rate.
Abbey have already confirmed to me over the 'phone that the amount I want to borrow is well within their limits, I have a very good credit record and the LTV is fine. So in most respects it looks as though this is a relatively straightforward transaction, possibly complicated because Abbey might not offer me the deal directly, but only through a broker.
Are there any fee-free brokers who would be able to act as the intermediary for me, on the assumption that Abbey won't offer me the rate direct? Presumably there would still be something in it for the broker, even if the action was relatively straightforward?
The product is with my existing lender (Santander/Abbey) but they do not appear to offer it directly to customers, only via intermediaries. The difference amounts to a 0.3% discount on the interest rate for the life of the mortgage. Obviously, I would like to have the lower rate.
Abbey have already confirmed to me over the 'phone that the amount I want to borrow is well within their limits, I have a very good credit record and the LTV is fine. So in most respects it looks as though this is a relatively straightforward transaction, possibly complicated because Abbey might not offer me the deal directly, but only through a broker.
Are there any fee-free brokers who would be able to act as the intermediary for me, on the assumption that Abbey won't offer me the rate direct? Presumably there would still be something in it for the broker, even if the action was relatively straightforward?
0
Comments
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Abbey deals pay a commission to the broker of 0.35%, £350 on a £100,000 loan for example.
If the broker needs to charge a fee consider the overall package. You have said it will save you money and there would be no dealings with the lender from you. Broker would deal with it all.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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