FTB mortgage advice

br3nnan

Hello all,

I am after some advice please regarding mortgages. My fianc! and I are FTB’s and currently in the process of looking to buy a house. We have seen, and love, a house nearby. It is a new build property, within our budget, which we are anticipating getting an 85% or better mortgage.
The house builder’s (Bovis) sales advisor has recommended we use one of two companies for our “financial services”. And is promoting them as being quicker to get the mortgages sorted, as they know the area/surveyors/etc.

What I am wondering is has anyone found that using recommended companies results in quicker turnaround and better products than using an external company. Or are Bovis getting favours from the two recommended solicitors in exchange for promotion.

I have read good things about London & Country and would be keen on using them instead.

Many thanks,
Tom

chopper78

Bovis recommend you use a particular advisor so they get commission. However, the builder may well have made arrangements with a particular bank for a specific deal (e.g. what Bovis have arranged with Woolwich on their 'Perfect 10' deal) which you wouldn't get with another broker.

br3nnan

Thanks. We did see the perfect 10 deal, which does provide an excellent rate (3.49ish%) however if you use this deal there is no negotiation on price/gifted deposit so we deel its better not to use.

Would a housebuilder approved soliciter push through an application quicker than say L&C

ACG

possibly yes.
The houselender will have agreements with solicitors and lenders. Therefore they are probably in a position to lean on the solicitor atleast to speed it up.

I have a solicitor i work with. If its urgent i left him know and it usully gets sorted a bit quicker. Im not sure how much sway they would have over a bank.

But as has been said, they will get commission if you use their lender. A mortgage advisor might be able to get you a better deal though, its worth getting a copy of what bovis can offer and take it to an advisor, they may be able to beat it.