independant mortgage advisor or straight to banks etc

Ianh82

hi

any good recommendations, i have spoken with london and country from here but wondered if going to a local broker may be a good thing to do?

any cracking deals for 80 to 85% LTV mortgages?

Dlg77

hi

iam currently in the process of applying for a mortgae and had this dilemma. i decided to go via broker, i tried l&c but found them a bit slow, and not much communication. I am currently with simply investment, so far so good, i cant really comment any further, as im only just about to put application through. good luck!!

Thrugelmir

Ianh82 wrote: »

any cracking deals for 80 to 85% LTV mortgages?

What's a cracking deal?

Alias_Omega

We are getting a quote from a high street bank, then going to the broker to beat it.

ACG

Typically, I think you get better service from someone local (rather than a large company). There is more accountability and business is more personal.

Ianh82

yes i might pop into a local branch in town tomorrow.

Alias_Omega

^ Our mortgage broker even sold us life assurance...

dunstonh

Alias_Omega wrote: »

^ Our mortgage broker even sold us life assurance...

You would expect most mortgage brokers to deal with mortgages and the related insurance products you would expect to put in place with a mortgage.

However, you should never buy insurance, pensions or investments from a bank. You will pay over the odds and often get a cut down version of the intermediary product (whole of market version)

BarleyGB

Couple of things.

Do your own research online, see what deals are out there on comparison sites then see if brokers can offer anything better (some of them have exclusive broker only deals).

Brokers can help if your circumstances are complicated or if you have specific worries / issues getting a mortgage, they know the different lenders criteria etc.

Consider turn around times, how quickly do you need to get an offer, some lenders are working on backlogs at the moment, e.g. I believe Santander application to offer time is about 4-6 weeks.

If you are confident and can do some research yourself then a local lenders branch may offer you a more personal service, a broker will offer broader research and expertise (normally).

Beware of broker fees, most (not all) recoup their fees from the lender so it shouldnt cost you anything.

dunstonh

Beware of broker fees, most (not all) recoup their fees from the lender so it shouldnt cost you anything.

Although if you want independent then it will cost you. (although commission is rebated and that could be more or less than the agreed fee).

Ianh82

i have lloked online and have several deals, looking at 85% LTV mortgages and 3 or 5 yr fixed rates for piece of mind. have been recommended a advisor in chelmsford but he charges a fee. i may go with a local one that doesn;t cost. countrywide in bairstows had limited mortgages and they charged quite high fee's.