Mortgage Brokers

PinkLady25

Hi all

We've arranged some house viewings in the next couple of weeks, and when I spoke to one agent, she said she'd set us up an appointment with their mortgage advisor, and because she caught me unawares, I agreed.

Obviously I've read the horror stories and pitfalls of using agent's in-house advisors, and would rather use an independent broker who knows what they are doing and is not tied to an estate agent.

We're in the West Midlands and will be looking at a 90% LTV over 25 years; husband's gross salary is £22k, mine £17,794 and increases yearly. No CC debt or loans, credit scores shouldn't be an issue as far as we're aware. I have student loan of about £10k. Currently looking to spend no more than £125k (so mortgage amount of £112,500). Ideally would like to fix for as long as possible, but don't want to pay an eye-watering interest rate to do so as obviously being 90% LTV means were aren't getting the best interest rates from what I've seen.

Any help/advice would be appreciated, and if it's allowed, recommendations of mortgage brokers? We want to get the best deal as painlessly as possible as to be honest we're no financial experts

Thanks in advance!

amnblog

'Booking an appointment' automatically without your input is naughty and perhaps gives you an indication of the level of interest this estate agent and broker has about your needs and concerns.

Ask friends and family for recommendations to local mortgage brokers who are not involved with the estate agent. Or you can work remotely very successfully with mortgage brokers anywhere in the country.

We are not allowed to make recommendations on this forum unfortunately.

PinkLady25

Ah apologies, I wasn't sure if you were able to recommend directly. It's a shame as the only person who I know has dealt with a broker used London and Country mortgages, so asking friends and family isn't really an option as no-one else we know has bought using one.

Based on our circumstances would you recommend using one? Just concerned that our deposit isn't as high as we initially intended (we were going to try and save to 15% but living with in-laws is proving difficult so we have decided to start looking with 10% available). Are 90% mortgages doable without support from a broker or are we just asking for stress?!

Thank you

PinkLady25

Also - I really don't want to go ahead with the agent mortgage appointment and I did say I'd need to speak to husband about it... Would it be reasonable for me to cancel saying I've discussed with husband etc and we've decided to go with our original plan of using an independent broker who covers whole of market?

oli_ro

Definitely cancel the appointment if you are not comfortable, nobody can force you do anything you don't want to do.
Tell them that you have thought a bit more about it and would like to use a whole of market independent broker recommended by someone else.

amnblog

Tell them their approach stinks and they may learn something!

zarf2007

PinkLady25 wrote: »

Also - I really don't want to go ahead with the agent mortgage appointment and I did say I'd need to speak to husband about it... Would it be reasonable for me to cancel saying I've discussed with husband etc and we've decided to go with our original plan of using an independent broker who covers whole of market?

You could skip it but if they have a property on their books that you are interested in and they have another buyer who will use their broker, be prepared for the others to be put forward over you. It's the kind of thing these 'professionals' do.

PinkLady25

Thanks oli_ro!

Now to try and find a broker...

MJP43

Hi

Is it Burchell Edwards by any chance ?

OneEngland

If you're an App person, you may want to download Barclays Homeowner App. You will find an option to 'Find a mortgage specialist' which will bring up a list of brokers nearby. Its not a guarantee the broker will be the best but it will at least give you a list of brokers to approach.

PinkLady25

amnblog wrote: »

Tell them their approach stinks and they may learn something!

I was a bit miffed that she booked it anyway before I said definitely yes, hence why I want to cancel it!

She has also offered to show us round a number of properties in the area but having looked at them online, they aren't really what we are after, and we have found some they have listed that would be more suitable. Seems like they are trying to offload one of their less desirable properties onto us!