Fixed rate Mortgage just ending, where to now?

Hagrid

Thank you for all your help, I shall contact Bristol and West and see what thet come up with first, then I shall have a word in the Brokers ear!
regards Hagrid

Hagrid

I did contact B&W and they said they couldnt oficially quote till nearer the time buy could probably do a 5 year no fee at 5.6% or there abouts!
My original Broker still reckons the Abbey 2 year deal at 5.74 with no fees is best!
would I do better just contacting mortgage providers myself and avoid the Brokers?

Melissa177

I would haggle with B&W using Abbey's figures to get a good deal - it would probably save a lot of hassle as well.

silvercar

HSBC do a 5.49% fixed rate (think its 10 years) with zero fees - it is internet only though.

MarkyMarkD

Hagrid wrote: »

I did contact B&W and they said they couldnt oficially quote till nearer the time buy could probably do a 5 year no fee at 5.6% or there abouts!
My original Broker still reckons the Abbey 2 year deal at 5.74 with no fees is best!
would I do better just contacting mortgage providers myself and avoid the Brokers?

But that's not the deal your broker originally suggested - he said to pay a £999 fee.

Has he changed his advice because you've told him he was wrong, or what?

And how the heck is it better to change lenders to pay 0.14% or so more?

He's a muppet!

Matt_Bristol

Abbey rate is now 5.79% fee's free and I agree with everyone who has said that paying a £999 fee is definetly not worth it , depending on what B&W offer you will probably find you cant save much money due to discharge fee's also take into account anytime you may be paying SVR with B&W whilst trying to complete with new lender , to give you an idea the local Abbey processing centre i deal with was swamped with over 150 apps on the last day that 5.14 rate was available so I cant imagine them offering a very quick service currently

shaymenRup

Hagrid wrote: »

I did contact B&W and they said they couldnt oficially quote till nearer the time buy could probably do a 5 year no fee at 5.6% or there abouts!
My original Broker still reckons the Abbey 2 year deal at 5.74 with no fees is best!
would I do better just contacting mortgage providers myself and avoid the Brokers?

Sorry to upset the brokers on here, but I have arranged my last three mortgages quite easily with a bit of research on the net and haggling. It is also worth noting that some lenders don't deal with brokers and therefore the brokers won't recommend those deals. Likewise there are also the odd deals only obtainable through brokers.

I just don't agree with paying for something you can do yourself quite easily. Clearly you've got to be confident you know what you are doing. I do have a financial advisor for other matters.

Matt_Bristol

Shaymenrup

You have a point in part of what you are saying in that we dont always recommend lenders that dont deal with brokers although there is a reason in that with most of them, most brokers will use a sourcing system (trigold,mortgage brain etc ) to find the best products and some lenders dont put there information on these systems ( HSBC , Direct Line ) we can hardly be at fault if a lender doesnt want to tell us about them, i have lost loads of customers recently because of Britannia who at one point were coming up top in most 3 and 5 year searches who I cant use but will still give cust info on them.
The deals we have access to far outweigh the number of products that you can find that we dont deal with, we get exclusive rates , free valuations & cashback that you wouldnt get unless you went through a broker that could use certain mortgage clubs.
I appreciate that some people think that a couple of hours spent searching the net allows them to find the best deal available but this isnt the case , as an advisor we have numerous meetings with lenders , have access to a far more comprehensive search system than the general public and to be fair we do this 40-50 hrs per week which i personally feel puts us in a lot better position to recommend a product.

I dont understand people's nagging suspicions that we are only out to get paid and screw whats best for the customer. A mortgage is the biggest commitment in most peoples life i really would prefer to do whats best for a customer and be able to sleep at night rather than cost the customer extra for the next 3 yrs to get a poxy £300 commission , although i appreciate that there are brokers and entire companies out there that dont feel that way