Mortgage Broker Advice

Doodlez

Hi

Im looking for a Mortgage and wondered if anyone has every used The Mortgage Advice Bureau? If so are they any good? How much to they charge or are they free?

Many thanks

Senior_Paper_Monitor

A franchise style operation based in Derby with local representatives I believe.

I wouldn't presume to comment on another broker (unless there is a reason for a 'health warning' - and there is no indication of that) but I would assume it will to some extent depend on who your 'local man/women' is (as it always does with any large operation).

Their fees statement on the website (not terrribly obvious) ....

Your home may be repossessed if you do not keep up repayments on your mortgage.
A fee of up to 1% of the mortgage amount may be charged depending on individual circumstances. A typical fee is £95.

Doodlez

Thank you
It seems very daunting trying to pick/choose the right mortgage and I dont really just want to go to my bank and apply for one without first shopping around.

Mevs01

Hi - I am currently re mortgaging and am using London & Country. They do not charge any fees at all.They are telephoney based.They are the brokers that sponsored the Morgage advice on this website. I have found them very helpful and i am hoping to save £250 p/m providing the Mortgage goes through.Good luck

DannyboyMidlands

Doodlez wrote: »

Thank you
It seems very daunting trying to pick/choose the right mortgage and I dont really just want to go to my bank and apply for one without first shopping around.

I don't see why it's so daunting. Whether you see a broker or not the decision will still be yours and based on answering a few simple questions:

How much do you want to borrow?
At what LTV?
Fixed, tracker, offest, what term?
How do you feel about arrangement fee's, ERC's etc?

Agreed that you shouldn't just go into your bank but it's easy to shop around on the internet. I just did and ended up taking a mortgage from first direct. All arranged directly with them and no need for conversations to be relayed through a middleman.