Problems with Yorkshire BS?

pinkteapot

I like the look of a 10 year fix that Yorkshire Building Society offer, but our broker has said that they're a bit of a nightmare to deal with and are slow at processing applications. Is that something other people have found?

EDIT: Might have answered my own question
http://www.reviewcentre.com/reviews113547.html

JimmyTheWig

Have never used them myself, so unable to comment from that side of things.

The broker is either being honest with you or putting you off because he gets no or little commission from them.
When it comes to customer satisfaction and complaints, Santander often comes out very low. They also (as far as I am aware) give decent commission to brokers. Ask you broker what he thinks about you applying to Santander. If he jumps at the chance then it sounds, to me, like he's in it for the commission (it is his job, at the end of the day) but if he doesn't rate their service either it suonds like he has your best interests at heart.

pinkteapot

Thanks for the tip!

ACG

Ive just said this on another post, but unless its a big case or a very straight forward case - i would rather turn the business away than deal with them.

Theyre not worth the hassle.

Commission is broadly the same with all lenders brokers deal with.

pinkteapot

Thanks - we're not a completely straightforward case.

Broker has found a deal at the same rate as YBS, but the product fee is higher.

kingstreet

Typically a broker gets about 0.3% of the mortgage amount from a high street lender.

There is no great advantage in bias towards a particular lender, but it is worth noting Santander does pay more for five year fixed rates and longer.

SG27

I'm suprised people saying they are a nightmare. When we used them in February we had the valuation done two days later and the mortage offer within in week. They were very thorough checking our bank statements and payslips, overall I was very impressed. We were an easy case with 50% LTV though.