Countrywide Mortgage Services - Should I use them?

mcc86

Myself and my brother are looking at flats to buy, with the intention of renting it out after a year or so - therefore it is a long term investment.

We have viewed a few properties and an estate agents recommended we meet with their financial advisor just to talk through our options etc. I thought 'why not' so we met him this afternoon. He works for Countryside Mortage Services.

I couldn't help but feel, as pleasant and friendly as he was, he not the most trustworthy of person. He was very vague about the prices of the legal fees, and stated they did not check the whole market, and relied on 12-13 lenders, but they would be better deals than what they would offer if I contacted them myselves.

Can anyone share their experiences of Countrywide, and maybe give us (as first time buyers) a steer on whether we should use them or not?

Many thanks in advance

caeler

Read this thread and tell us what you think the answer is!!
https://forums.moneysavingexpert.com/discussion/3840017

9ja4life

Don't! Infact run away as fast as you can

Flibsey

I've only had dealings with countrywide as a tenant and with them and an LA and I'd say NOOOO RUN!!! HERE BE DEMONS!!!! just based on my own experience!

mcc86

I must be honest, after reading that thread - I am a tad confused.

From my meeting with the financial advisor I had today (who was located at Taylors Estate Agents) - I was under the impression he was simply going to be finding me the best deal.

I am meant to be seeing him again next Wednesday, is this when he is going to try and get me to use Countrywide for conveyancing a property and one of their solicitors? Which is where I gather, is the problem that other people are experiencing.

Yorkie1

He is not searching the whole of market and could not give you a pricing structure.

Go to an independent, whole of market broker.

DVardysShadow

mcc86 wrote: »

I must be honest, after reading that thread - I am a tad confused.

From my meeting with the financial advisor I had today (who was located at Taylors Estate Agents) - I was under the impression he was simply going to be finding me the best deal.

I am meant to be seeing him again next Wednesday, is this when he is going to try and get me to use Countrywide for conveyancing a property and one of their solicitors? Which is where I gather, is the problem that other people are experiencing.

Yes, that thread is possibly a bit off topic for your particular situation.

Taylors are part of the Countrywide group and their in house conveyance is well known to be dire - to the point that if I was dealing with anyone using them, based on previous experience buying from a Countrywide user, I would insist that they changed their conveyancer.

In terms of their mortgage service, I have no direct experience, they are just tarred with the same brush. And the other issue is that the Estate Agent is the Seller's Estate Agent - and to offer services to you as buyer is actually a conflict of interest. As seller, I did not like the conflicts of interest resulting from in house mortgage providers [Agent could be prejudiced against buyers getting mortgages from elsewhere].

As Yorkie says, find a whole of market independent.

And never, as buyer, take legal, financial or any other service from your seller's agent.

mcc86

I've had an offer accepted on a property, however I am not sure as to whether to use Countrywide as a broker, they have found deals for apparently 3.35%, which is lower than what I have managed to find myself (3.79%) - I will not be using them for Conveyance.

I am tempted to use them as a broker, as surely they can't go wrong on that can they?

kingstreet

Countrywide Mortgage service;-

- uses only a small panel of lenders
- charges you a fee AND gets paid commission by the lender
- gets survey business from its lender panel
- has a single insurance tie
- will want to tie you to its conveyancing operation.

If you want advice on the best products, choose an independent mortgage adviser who will find you that and rebate the commission to you if it pays any, reducing any fee you agree to pay. This route will also tell you if a direct to lender product is better for you.

If you tell us what kind of rate, loan to value, income multiple etc you need, we can tell you if there are better deals out there.

JohnnyBaloney_2

Flibsey wrote: »

I've only had dealings with countrywide as a tenant and with them and an LA and I'd say NOOOO RUN!!! HERE BE DEMONS!!!! just based on my own experience!

You are not the only one...

http://countrywidesucks.co.uk

LiveOnce

Don't use them. Please don't use them. They are terrible.