mortgage adviser not offering as good deals as im can find

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If a lender has to cough up a few grand to a broker then the applicant is going to pay for it in the end.

Or the borrower could get off their behind and sort it out for themselves.

If you have a straightforward case, why not work out your objectives, such as total cost over X years with whatever optionality you need and then challenge a broker to beat Mr Google. Far from it taking hours of their time, a specialist should know almost instantly whether they can beat such a figure and let you know.

I could reel off the top rates right now, not because I am a mortgage person but simply because it is a topic I listen to and read about. I have no knowledge of broker specials but I guess I wouldn't be waiting beside my telephone waiting for their call !

ACG

We dont get a few grand, its about £500.

There are 2 ways of looking at it. If you know what your doing are comfortable doing it and have the time to do it then yes your best going it alone.

If your not sure, you dont have the time, your looking at pushing the limits or have bad credit then your best going to a broker. But looking yourself you still cant be sure your getting the best rate, yes we can all reel off HSBC but are they the best (or cheapest) for everyone? No.

It doesnt bother me too much if people go direct, its not my core business. But individuals cant check every lender as a fair few will only deal with advisors.

mic200202

DannyboyMidlands wrote: »

Absolutely outrageous "advice".

It is perfectly likely that a HSBC/1st Direct type mortgage is available to the OP. They just don't give any commission to brokers.

If it is the best deal, I'd advise the OP to go direct to the lender in question. I did (with 1st Direct) and it was an increadibly smooth process. With a straightforward house purchase it's much easier to deal direct and not have stuff relayed through a third party.

Like I said Dannyboy,if it was all that easy then there would be no difference between any lenders apart from the rates wouldn't there? But as you don't appear to know,not all lenders will lend to every single applicant,whether direct or via a broker.This is nothing to do with deals not being available via brokers- It's just reality.Your idea of advice seems to be to just to pick the lowest rate (which is what the original post was implying) without any regard to anything else..what utter nonsense.I am pleased you had an incredibly smooth process with 1st Direct,unfortunately a lot of applicants don't have such an experience.And also most of them don't realise the implications of going through a non advised process which is why the FSA is going to remove most non advised sales in 2013.Yes,you can run me down if you want that's ok,and you can state outrageous advice all you want.Like many brokers,I do not canvas for business on here and give freely my advice to others who may wish to accept it.The OP was clearly having some concerns over what you perceive as child's play.

snowcat123

I couldn't think of trying to apply for my mortgage WITHOUT my mortgage adviser.

Our finances are complicated and being a FTB we decided to apply for a mortgage with a shared-equity scheme. Our mortgage adviser has been fantastic in helkping us find the best rate, sorting out all our paperwork and explaining everything to us in simple English.

I could have probably sourced the best deal and gone direct myself but I wouldn't have benefitted from the experience, knowledge and other positive factors a mortgage adviser brings to the table.

Edit to say - I think DannyBboy probably had zero debts, squeaky clean history, rich parents and a massive deposit. "Normal" people have more complicated finances than that no doubt so want the help and experience of an adviser.

deefadog

It's a tough to make that first mortage, i nearly got caght out recently as a recomended mortgage advise came back with not so good rates, and was more concearned about selling me other products such as 'a will' rather than concentarting on the mortage and then charging £1495 for the priveldge.

But he was just a bad egg, i have delt with very, very good and helpful advisers in the past!

DannyboyMidlands - Quick question, with Firsts Direct, do you happen to know if you can add another loan to the morgage (I will still be in the LTV range for the mortgage deal).

Cheers

empress29

thanks for all the replied. I have decided to try someone else who has come from a recommendation from family. Although I told my original advisor all my details he didnt even mention porting my mortgage until I mentioned it - and then said oh yeah I guess that is a better deal and I can help with that if you like (err no thanks). Surely he should have stated all the options available as this was what I asked for as I was very clear upfront what was after and then I needed advice.

I am looking at the option of porting my mortgage aswell - which seem all well and good but totally confusing with the 30 days thing (i have raised another thread on this).

So I will see how it goes.

DannyboyMidlands

mic200202 wrote: »

Like I said Dannyboy,if it was all that easy then there would be no difference between any lenders apart from the rates wouldn't there? But as you don't appear to know,not all lenders will lend to every single applicant,whether direct or via a broker.This is nothing to do with deals not being available via brokers- It's just reality.Your idea of advice seems to be to just to pick the lowest rate (which is what the original post was implying) without any regard to anything else..what utter nonsense.I am pleased you had an incredibly smooth process with 1st Direct,unfortunately a lot of applicants don't have such an experience.And also most of them don't realise the implications of going through a non advised process which is why the FSA is going to remove most non advised sales in 2013.Yes,you can run me down if you want that's ok,and you can state outrageous advice all you want.Like many brokers,I do not canvas for business on here and give freely my advice to others who may wish to accept it.The OP was clearly having some concerns over what you perceive as child's play.

I haven't mentioned "lowest rate" once (until now). So yes, I agree, it would have been nonsense - if I'd said it.

Most mortgages really are not that complicated and "advice" is not neccessary.

In my case, I wanted a cheap lifetime tracker deal with unlimited overpayments allowed. I then, like, went and found one.

DannyboyMidlands

deefadog wrote: »

It's a tough to make that first mortage, i nearly got caght out recently as a recomended mortgage advise came back with not so good rates, and was more concearned about selling me other products such as 'a will' rather than concentarting on the mortage and then charging £1495 for the priveldge.

But he was just a bad egg, i have delt with very, very good and helpful advisers in the past!

DannyboyMidlands - Quick question, with Firsts Direct, do you happen to know if you can add another loan to the morgage (I will still be in the LTV range for the mortgage deal).

Cheers

Give them a ring and ask.

Or I guess you could give a broker a ring, set up an appointment, go down there, spend an hour chewing the fat, then they could call 1st Direct, ask them, and then call you back and tell you.

mic200202

DannyboyMidlands wrote: »

Absolutely outrageous "advice".

It is perfectly likely that a HSBC/1st Direct type mortgage is available to the OP. They just don't give any commission to brokers.

If it is the best deal, I'd advise the OP to go direct to the lender in question. I did (with 1st Direct) and it was an increadibly smooth process. With a straightforward house purchase it's much easier to deal direct and not have stuff relayed through a third party.

Yes Dannyboy Well just like I didn't say not to go to HSBC..it was an generic example of a lender who has good headline rates but only wants to cherry pick the very best applicants.It is quite wrong to infer that they OP is going to be ok without knowing any background.The question was why the advisor had not presented some deals the OP had seen online.My answer was that he had probably narrowed down a choice for lenders that would actually be in a position to proceed.Dannyboy has waded in with the put downs etc.
It sounds as though he has bee in your bonnet about using brokers full stop.Judging from other posts you seem to be well informed about mortgages - and opinionated at that- maybe works for a lender or underwriter or maybe an ex broker.If that's the case you should declare it on here lie, everyone else.