Countrywide review

Neese

We are first time buyers and tried to buy last year via countrywide. We were told we had to see their broker before we could make an offer (we now know this isn't true). We did use their broker as we had been convinced it would make things quicker and easier with the purchase (it didn't. It made it quicker and easier for them to share our confidential information with each other. They didn't act in our best interests). We never received our welcome pack, so the OP at least has that! The broker didn't enter my details properly, meaning our mortgage wasn't accepted initially as they couldn't find me on the electoral register. The purchase eventually fell through due to the 18 month old property not having a NBHC warranty, something we have been told by various people should have been picked up the estate agent or the broker when it came back on our valuation report. The broker seemed very professional in the first meeting, but it quickly slipped after that. Our new, independent broker is so much better. We spoke to him over the phone twice, dropped in once and then had a proper meeting before going with our current one.

amnblog

Neese wrote: »

We are first time buyers and tried to buy last year via countrywide. We were told we had to see their broker before we could make an offer (we now know this isn't true). We did use their broker as we had been convinced it would make things quicker and easier with the purchase (it didn't. It made it quicker and easier for them to share our confidential information with each other. They didn't act in our best interests). We never received our welcome pack, so the OP at least has that! The broker didn't enter my details properly, meaning our mortgage wasn't accepted initially as they couldn't find me on the electoral register. The purchase eventually fell through due to the 18 month old property not having a NBHC warranty, something we have been told by various people should have been picked up the estate agent or the broker when it came back on our valuation report. The broker seemed very professional in the first meeting, but it quickly slipped after that. Our new, independent broker is so much better. We spoke to him over the phone twice, dropped in once and then had a proper meeting before going with our current one.

One of the problems of working with a large group Keekles.

There is always someone who will let the side down and taint everyone.

You can bet that the experience suffered by Neese will not automatically be replicated if Mr Paulius were to use CW.

However, the adviser who can build trust offering a panel service with some colleagues running riot and trashing the brand, will eventually lose out to one who can build trust, is independent, and runs a tight ship.

amnblog

Keekles wrote: »

Accord
Aldermore
BM Sols
Coventry
GE
Kensington
Leeds BS
Halifax
Nationwide
Natwest
Platform
Abbey (Santander)
TMW
Virgin
Woolwich

There are 2 perhaps 3 on this list that should not be on anyone's panel.

Mortgage_Mark_2

amnblog wrote: »

There are 2 perhaps 3 on this list that should not be on anyone's panel.

Not sure I agree with that, in fairness to Countrywide - the lenders on that list all have their uses.... (not that I use half of them regularly).

betmunch

Keekles wrote: »

This job like many others is often about the person sat in the chair - not the colour of the chair they're sat in.

I'd just like to say that I am very impressed with Keekles handling of this. You are right that it is very much about the person sitting in the chair.

Remember the employees like Keekles dont:
Choose the panel of lenders
Choose to be single tie
Choose which solicitors to refer to
Set the policy on when a offer goes forward.

It sounds to me like Keekles is very much like me when I worked for countrywide, and that is someone that did their very best with the tools they were supplied.

Keekles, if you have plans to set up on your own I think you will do very well with the attitude you are displaying in this thread.

Keekles

Happy to respond to your comments Kingstreet - always considered your advice on this forum invaluable and I'm surprised at the amount of time you commit to the forum to be fair. This applies to many brokers on here and whilst I can understand your points of view / criticisms of EA based brokers; I don't necessarily agree with everything that's said.


Regarding putting offers forward & seeing the in-house broker. Depending on the context of the conversation and how it's put to the buyer means that this is open to abuse in some ways, granted. However on the flip side, genuine buyers won't have an issue with it because it doesn't take much to have a conversation with someone and if they have no intent of using the EA broker - making that clear, and at the same time, providing an AIP & often proof of deposit. From an EA / vendor perspective, surely the person you're recommending should be qualified in terms of understanding where they are with regards to their financing of the property.

Where there are so many specialists on here (be in contractors or newbuild), you'd be amazed how many people walk through the doors of an Estate Agents asking to view £300k properties or wanting to purchase 4-bed semi's in SE London on a 0-hour contract achieving £20k a year. If I haven't spent 5 minutes doing the most basic of fact-finds with them - later on they're going to be a waste of everyone's time.

On a personal note, my referrals are actually healthy enough that I see less than 20% conversion with regards to mortgages on properties the branches have sold and most of my business is from clients that have bought via other agents. The EA manager might have a bee in his bonnet about it but he's not my boss; and my boss is quite happy provided the numbers are where they should be.

I think to a degree you're resting on your moral compass a little too heavily. Yes, the business tries to maximise its profits by incorporating cross sales across the brand. But that's just it? Countrywide like any other chain (Connells, Your Move etc.) is a business. I'm sure in your 30 years you will always attempt to maximise your income - else you'd arrange mortgages for free and not charge a proc fee either? I'm sure the NHS nurses try to work their way up through the bands to increase their salaries and they're not just in their job for the love of helping people.

Conveyancing I think I made my view pretty clear. There are cheaper, better solicitors around, and there are more expensive, worse solicitors. If you can honestly recommend a single solicitor that is both inexpensive and exceptional at their job - even their high standards would slip if they were in receipt of multiple referrals.
More often than not, the volume of work is Countrywide Conveyancing's biggest downfall.

Surveys, again, in my original post I addressed that most brokers I work alongside will generally recommend an upgrade via the lender and we're not targeted on survey referrals.


Lifetime fee's only apply on a BTL basis as far as Countrywide are concerned, and some clients will benefit more than others. The very first client I had to take a BTL lifetime fee had a portfolio of 5 properties, had used a different broker for each transaction and paid anywhere between £300-500 a time. In the 5 months since paying the fee, I've written 6 mortgages for her and expanded the portfolio to 8.
Would she be better off seeing a fee-free broker to do essentially the same job? More than likely. I have still saved her time & money that justifies the fee? Absolutely.

I'm not trying to convince you of anything K, nor anyone else. I just think in this instance the OP has seen a Countrywide broker and seemingly had a good experience that has been dashed pretty unreasonably by anonymous posters on a forum.

You're right in some ways amn; it's much easier for a firm such as Countrywide to live and die by it's reputation and a bad few can spoil a whole bunch. I just think the views given on here are that EA brokers are useless and WoM brokers are the cream of the crop. If I had the resources I'd love to visit every WoM broker in the country and drag up some bad examples, because they're certainly out there, they just have a much smaller catchment than Countrywide as a brand.

As for the 2 or 3, I would imagine our lines of thinking are about the same and just because they are on panel, doesn't necessarily mean they're utilised.

kingstreet

Yes, as I said, there are good advisors working for national estate agency chains and I was referring to all national chains, not just Countrywide.

Countrywide got my ire last year because it was the subject of the thread back then.

My issues tend to be about the practises of these firms as a whole and are not centred on the mortgage service, although they have the limitations I've mentioned.