Can I cut the mortgage broker out (estate agent insisted I see him)...

olympicsmummy

I viewed a property and the estate agent was very keen that I see their in house mortgage broker to check that I had the best mortgage deal.

The mortgage broker found me a better deal and higher mortgage and printed me out a mortgage promise. He didn't mention payment and i signed nothing. I decided not to purchase the flat I was looking at.

A few weeks later I saw a different flat, different estate agent and I have had an offer accepted on a new flat. My q. is .. can I just go direct to the bank with the mortgage promise the broker printed out for me or do I have to go through the broker? (the mortgage promise says his fees are £300).

The estate agent that the broker works for have phoned me today to discuss other properties but i said ive found a new property and offered which was a mistake as they said that if the offers accepted let them know and they will deal with the mortgage side of things... I just want to go direct to the bank and avoid this 300 fee though!??

suziqqq

Mortgage brokers have access to different deals than joe public who just walks in off the street that's why they charge so I think the answer is no

tigsly

Have you searched the bank and looked to see if the deal is avaliable online - if it is - you can apply direct..

if not hten you may have to go back to that advisor..

The other question is how 'clean' you application is - if your in a permanant job, with no credit issues - and match affordablity - i'd have thought the broker wouldnt be needed..

if you have issues in your credit check - then you may need a broker.

dunstonh

A few weeks later I saw a different flat, different estate agent and I have had an offer accepted on a new flat. My q. is .. can I just go direct to the bank with the mortgage promise the broker printed out for me or do I have to go through the broker? (the mortgage promise says his fees are £300).

Lending criteria through brokers may be different to that through the branch. So, whilst you may qualify for a deal at that bank, you may not even though you have the mortgage promise.

koexelek

suziqqq wrote: »

Mortgage brokers have access to different deals than joe public who just walks in off the street that's why they charge so I think the answer is no

The words, mortgage promise, lead me to think it might be Halifax we are talking about ?

If so, you will get a better deal going direct to them than via a broker at the moment ( some we win, some we lose)
It will take 10 times longer going direct though and it will be an extremely painful process.
If it takes so long you lose the house you might wish you'd paid the £300:o