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How do I get trully independent mortgage advise?
countrygirl27
Posts: 156 Forumite
Hi
I am a first time buyer. So far this is what I have done...
1. Saved a deposit (15-20% of value.)
2. Gone to my bank to see how much I could borrow (Lloyds) and got a mortgage promise. (I was told I can make an offer with this.)
3. Found a property I like that is within the range Lloyds said they would lend.
BUT what I would like to know is...
Would getting independent mortgage advise tell me if I can get a better deal with someone other than Lloyds? I really would like to lower the monthly repayment that Lloyds have offered me. What are peoples experiences? There is only one independent mortgage advisor in my area which leads me to suspect they may not be independent!!! (Dont know why!)
And can I pay for the advise on completion of the sale?
Thanks.
I am a first time buyer. So far this is what I have done...
1. Saved a deposit (15-20% of value.)
2. Gone to my bank to see how much I could borrow (Lloyds) and got a mortgage promise. (I was told I can make an offer with this.)
3. Found a property I like that is within the range Lloyds said they would lend.
BUT what I would like to know is...
Would getting independent mortgage advise tell me if I can get a better deal with someone other than Lloyds? I really would like to lower the monthly repayment that Lloyds have offered me. What are peoples experiences? There is only one independent mortgage advisor in my area which leads me to suspect they may not be independent!!! (Dont know why!)
And can I pay for the advise on completion of the sale?
Thanks.
Current mortgage 133k
Purchase price 171k
Fixed deal ends sept 2019
Current repayments 640pm
Savings approx 60k
Purchase price 171k
Fixed deal ends sept 2019
Current repayments 640pm
Savings approx 60k
0
Comments
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You need to speak to an Independent Mortgage Advisor and take the fee paying option. They will then rebate any commission they earn which subsidises the fee you payI am a Mortgage Adviser
You 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 -
Do you have any friends/family who have used a good IFA? We were recommended an IFA by some good friends. The IFA wasn't based in the same area as we were buying, but this didn't hinder things. Our IFA was the only person throughout the whole process who was efficient and helpful.0
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