Nationwide Cashback

tomleafs

Hi all

Me and my partner recently applied for a mortgage independently of a mortgage adviser as we managed to find a better deal elsewhere and also didn't fancy paying the fees.

I've been looking at the legal & general mortgage club website and have found that Nationwide (the lender we went with) offers 0.33% cash-back on all products. Does anyone have any experience with working with a fees-free broker and splitting the cash-back or is it too late now that we have applied for the mortgage?

Any help or advice appreciated!

Thanks

ACG

If you have applied, then im not sure its worth risking withdrawing your application and making another - but obviously thats your decision.

I cant imagine their being many fee free brokers who also split their commission, i cant see them being in business for too long. That being said, there is a thread on here about a website that does that.

If you do go with them, it would be interesting to know what the service is like.

Thrugelmir

Why would a mortgage broker want to work for nothing?

You may receive a service to match. Pay peanuts you'll get monkeys.

kingstreet

I wouldn't.

Advice and recommendation means the possibility of a complaint in the future for the advice I give.

Add that to the personal face-to-face service at clients' homes and the arrangement service, right through to completion, makes it very uneconomical at 0.33%. That's our commission by the way. Not a cashback.

A £100k mortgage is worth about £300, after compliance costs. Frankly, it isn't enough for the service provided.