FirstMortgage Brokers

Xenon

I am just about to start house hunting in Edinburgh

Has anybody used First Mortgage brokers?

Are they any good or bad.

Just looking for any experience/opinions on their service.

Any help appreciated

BlessingMuts

Do not even attempt to use these. I used them when trying to buy a house. Was recommended by Miller Homes to go to a guy call Chris Cherry in Edinburgh west end branch. He was the worst of the bunch never returned calls and when our mortgage ran into a snag due to my wife using two names her middle at work. He could do nothing but just ignore us. Only got it worked out when we used a different broker. So I would never recommend anyone to use them

YoungBaker

I have used them twice before and am now on my third, in the Glasgow branch.

The first time we used them was for our FTB purchase and they were great, took time to explain everything to us and communication was good.

We then used them to remortgage after our fixed term ended (think it was their retention team). The broker herself was great again but once it was passed over to their team who are supposed to contact you every 2 days to let you know the status of the application with the lender everything went mute. I had contacted her a number of times and she never returned anything so ended up getting on better with the lenders conveyancers in the end.

Im now using them a third time a remortgage and the broker has been a bit of a nightmare if im homest. Very, very poor communication. We have had about six times hes promised to get back to us and hasnt or has ended up having weeks off without any notice. We are almost finished but i think this will be our last use of thrm.

clark090

Cons of working with mortgage broker
– They make mistakes like anyone else
– May overcharge you.
– False promises to get your business
– Incompetence (poorly educated about the home loan process in some cases if newbies)
– May not have access to programs with select banks (approval varies considerably)

kingstreet

clark090 wrote: »

Cons of working with mortgage broker
– They make mistakes like anyone else
– May overcharge you.
– False promises to get your business
– Incompetence (poorly educated about the home loan process in some cases if newbies)
– May not have access to programs with select banks (approval varies considerably)

Clark, in this country we don't work like in the US.

We tell our potential clients our fee at the outset and we are advising on lender packaged products, not adding to or reducing lender rates because of credit scores etc.

On the other issues, there's good and bad everywhere. It goes without saying.

MrsDB

I have used them twice now and no issues at all. The last time I went into the Corstophine branch and spoke to Catherine who was good