Mortgagees - go through an intermediary or not?

the_flying_pig

[edit - spelling mistake in title, I just mean "mortgages"]

Hello

I'm going to buy soon.

Have been dealing with a mortgage broker. She found what seemed like a pretty decent rate, which I was not unhappy with the look of.

But thought I'd look at the best buy tables in moneysupermarket.co.uk or whatever. I found two rates [A BS & the Post Office, who the broker doesn't deal with so I suppose doesn't get commission from] that was maybe a couple of tenths of a percentage point lower than the broker's deal]. So real money over the duration of a three-year fix.

I asked her about this discrepancy & got a load of guff back about the above two lenders being, I don't know, slow to send forms back & stuff, that it'd be a much smoother process going through her.

Any thoughts on whether this advice might be sound or not or just a blatant attempt to secure commission - should I just go with the cheaper deal?

the_flying_pig

Sorry, hoof, any thoughts?

sirmosh

If you use a whole market IFA then in my opinion using one is the best option since they sort everything out for you.

pinkteapot

I did my own research and found the best rate I could. I went to a broker who couldn't beat it so I didn't bother (our mortgage is with HSBC who don't make their deals available to brokers).

I've applied for a mortgage twice, neither time with a broker. The process is pretty straightforward so I don't think there's any need to use a broker unless they're going to save you money.