barclays mortgage - any brokers that rebate commission?

burnoutbabe

think i'll be going for the barclays lifetime tracker - .18% above BOE. no fees.

but i can apply in branch or on the phone for it.

but are there any discount brokers who would give back some of the commission to me if i went through them? or does this sort of product not offer commission to anyone?

Catherine

Mr_helpful

Hmmmmmmmm we do all the work pay for our PI insurance and then wait to see if someone for this forum advises you to make a claim because the interest rate went up or there turns out to be a better product or some other lophole. You might be lucky but not from me. Nice try though

MortgageMamma

No afraid not. I used to do this on bigger non advised cases but I've since stopped doing it because its always more hassle than its worth - like helpful says, we have a lifetime of liability for any product we sell you, and the smalll amout of commission we get pays for that liability

silvercar

Read Martin's article on this site:

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1101649966,86816,

In particular look at the paragraph headed "Do it online and get cashback to".
This could be just what you looking for.

MortgageGenie

As pointed out by silvercar there are brokers who will rebate part of the commission to you, however, you'll have to decide whether you're looking for a full advice and recommendation service or whether you're happy to proceed on a Non-Advised basis. (you choose the product and the broker just processes the application)

The typical net commission received by brokers for arranging a Woolwich mortgage is £300 per £100k borrowed, however, I believe this is due to increase to £340. For the Woolwich offset mortgages products the commission is higher.

burnoutbabe

Mr_helpful wrote: »

Hmmmmmmmm we do all the work pay for our PI insurance and then wait to see if someone for this forum advises you to make a claim because the interest rate went up or there turns out to be a better product or some other lophole. You might be lucky but not from me. Nice try though

well i wasn't asking anyone here to do it

have found some online brokers who do it, i don't need advice, I just want to go for the deal i have found already.

just wondered if anyone could recommend online discount brokers who did this, i found one online, seems to be about £150 rebated to me. not bad.

Rick62

Not much of a rebate for having no advice, no access to special deals, no assistance with the whole application and legal process and no FSA or FSO protection.

I'n not saying it can't be right for some people sometimes, but it is not money for nothing as Martin would have you believe.

Also, because I get the (full) fee when I do place a mortgage I can afford to give my clients general advice on property and financial matters at other times when there is no fee income involved.

burnoutbabe

though i assume i'd get the same lack of advice and FSA/FSO protection if i went into barclays and filled in the forms with the branch customer service person. But whoever i picked to see, would get commission.


cheers for the link to the article Silver, have looked at the two there.

HelpWhereIcan

http://www.moneybackmortgages.com/

http://www.mortgagegenie.co.uk/

are the main 2 that I am aware of - may be others. But they are the ones named in the article silvercar refers to.

As long as you are happy with making your own choice of lender and deal etc, no reason why you should not

barbersfort

I read about a company called www.money4umortgages.com in a local magazine. It looks like they offer a similar service to moneyback mortgages and mortgage genie. Anyone heard of them? Used them? Are there any other companies that do this sort of thing?