2 Yeard Deal Due To End - Where Do I Start?

meanmachine_2

I wish brokers would stop giving this "go see a broker" as a bog standard reponse.

The OP just needs to speak to their existing bank - as pointed out the Natwest currently has a very competitive fixed deal.


I think it's time to stop this garbage about how everyone must "go see a broker".

I went to see one last month. they were RUBBISH.

The two deals I'd already pre-researched weren't even available to the broker cos they were consumer-only.

In fact, my advice is to AVOID brokers like the plague and do your own research.

FirstTimer4Me

meanmachine wrote: »

do your own research.

That's what I'm trying to do

apk1

meanmachine wrote: »

I wish brokers would stop giving this "go see a broker" as a bog standard reponse.

The OP just needs to speak to their existing bank - as pointed out the Natwest currently has a very competitive fixed deal.


I think it's time to stop this garbage about how everyone must "go see a broker".

I went to see one last month. they were RUBBISH.

The two deals I'd already pre-researched weren't even available to the broker cos they were consumer-only.

In fact, my advice is to AVOID brokers like the plague and do your own research.

You obviously have a problem with Brokers, if you find a good broker who does not charge what have you to lose ?, even if they charge and get a better deal then surely it is worth while, sure if you want to spend days researching yourself fair enough, but firsttimer4me is asking a lot of simple questions so from that I would assume they would benefit from a bit of guidance, also from what they have said it looks like they need to sit down and re-structure their finances.

As to Nat west , they may be competitive but are they the best ? is it not even worth checking ?

FirstTimer4Me

apk1 wrote: »

As to Nat west , they may be competitive but are they the best ? is it not even worth checking ?

OK thanks for the various opinions.

Nat West are calling me back this Tuesday to see if I have thought about their offer.

2 Questions please

a) Should I tell Nat West I'm going to make an appointment with a IFA?

b) Where would I find an IFA who will not charge me? should I just contact one of the many estate agents within my area?

apk1

FirstTimer4Me wrote: »

2 Questions please

a) Should I tell Nat West I'm going to make an appointment with a IFA?

Why not ?

b) Where would I find an IFA who will not charge me? should I just contact one of the many estate agents within my area?

Best options either personal recommendation from any friends/neighbours, otherwise it will meaning finding one yourself, use yellow pages google etc, you may find brokers in estate agents charge a fee to cover the agents cut.

Also look under mortgage brokers as well, IFA's tend to be more investment orientated.

meanmachine_2

As in all professions, there are good brokers and bad ones.

But this idea that brokers have access to a magical treasure trove of mortgage deals is absolute hogwash, in my experience.

And in fact many banks are now actively trying to cut brokers out of the loop by offering consumer-direct deals.

Not that you'll ever read about that on these forums.

As Martin always says, educate yourself, and empower yourself.

Then, you might decide you need a professional's advice, but don't always assume that's the case.

FirstTimer4Me

Thanks for your opinions.

antoniomontana

just a quick question relating to this, if you switch to a deal to another bank, do you have to show proof of income etc all over again?
or because you've already been paying the mortgage for 2 yrs a so, all you need to do is sign to switch over?

apk1

It depends on the rules of that bank, most will allow upto about 75% loan to value without having to provide proof provided your creit history is good, but nearly all reserve the right to ask if they are not happy with anything.

I would normally expect that if you have had a mortgage for two years, even if originally 95% mortgage you will probably be 75% or less now given house price inflation.