First time buyers - broker or no broker is the question

DannyboyMidlands

Dave_Ham wrote: »

I am not going to bite today as too happy, if it was that easy why would this forum and others be full of straight forward cases where there were no issues.

No merit in posting a post like this which does not benefit the OP or any other viewing, just does no favours for the forum or life in general to drop in inflamatory comments just for the hell of it..

Inflamatory? Calm down dear.

I was just making a point to the OP that for a straightforward case like theirs, applying for a mortgage is a piece of cake. It really is.

And if they want to burn £400, my services are available.

harvey115

If it was just filling in the form, then this would have been far too easy job.

I am getting a mortgage from a good broker and I can see what they are doing with my application. I am 100% sure I would not be able to do the same if I went direct. Its the relationship with the underwriters and other staff members working with the lender which is a key to the whole puzzle. Also the knowledge gained in the process in preparing a case to approval takes time to develop.

SummerRainDrop

If we don't use a broker/adviser, how do we go about the gifted deposit? Get a letter from the family member saying the money is a gift?

The money will be in our account prior to mortgage application, does that matter?

betmunch

DannyboyMidlands wrote: »

I'll do it for you.

£400 to do a search and then fill in a form for you sounds like money for old rope. In fact, you could fill it in and sign it before you come to see me. I'll just check it and then get on with all the other.......erm.....stuff.......

I would take Danny up on this offer. Hes offering an Independent service which is the highest level of mortgage broking, and at a price that is likely to be cheaper than Independent mortgage advisers.

I would also like to point out in the original post you seem to think that a Whole of Market broker has access to the whole of the market, this is incorrect, they have access to the whole of the intermediary market, its quite misleading if you ask me.

To include the non commission paying deals you need the likes on an independent mortgage advisor or Danny

DannyboyMidlands

harvey115 wrote: »

If it was just filling in the form, then this would have been far too easy job.

I am getting a mortgage from a good broker and I can see what they are doing with my application. I am 100% sure I would not be able to do the same if I went direct. Its the relationship with the underwriters and other staff members working with the lender which is a key to the whole puzzle. Also the knowledge gained in the process in preparing a case to approval takes time to develop.

Do you know what I did with my application? I filled it in and stuck it in the post that's what.

No key, no puzzle, didn't even need a stamp.

harvey115

DannyboyMidlands wrote: »

Do you know what I did with my application? I filled it in and stuck it in the post that's what.

No key, no puzzle, didn't even need a stamp.

Good for you!

Conrad

SummerRainDrop wrote: »

Thanks, will do. Try unbiased that is

But remember brokers who earn commision and don't charge any fee have to be biased if they want thier kids to eat! Even flogging insurance involves bias. I own up to flogging insurance but at least I give a large commision rebate to make the premium as low as poss.

BTW, I'm going to guess your opening line when you call brokers later:

" Hello, firstly what is you fee":rotfl:

Dave_Ham

DannyboyMidlands wrote: »

Do you know what I did with my application? I filled it in and stuck it in the post that's what.

No key, no puzzle, didn't even need a stamp.

But as you have posted 1,271 times, low loan to value, low income multiples, low risk and low social skills qualifying criteria

SummerRainDrop

DannyboyMidlands wrote: »

Do you know what I did with my application? I filled it in and stuck it in the post that's what.

No key, no puzzle, didn't even need a stamp.

The pessimist in me think you were extremely lucky and this might not be the case with us

betmunch, I was referring to independent advisers in my original post, perhaps I didn't communicate it very well, thanks for pointing it out. If we go for an adviser/broker we will be looking for an independent one for sure.

For independent advisers - what kind of fee is the average? £400 is cheap? I just have no idea...

Conrad

DannyboyMidlands wrote: »

Do you know what I did with my application? I filled it in and stuck it in the post that's what.

No key, no puzzle, didn't even need a stamp.

This is true of the bulk of straight forward borrowers.

Having said this, messy cases are truly like a maze and a roller coaster ride for all concerned. Tis the reason most brokers don't last long, the stress is huge never knowing if you will be paid for months of work and sleepless nights nagging away at you.