Mortgage Quote From Broker

HER

Can some please give me there views on the following quote I have been given from a mortgage broker with a property worth around £200,000 and a deposit of £30,000.

So a LTV of £170,000.


The following rates should be available to you:

1) 2.44% fixed until 28/2/17. Payments £760 over 25-years or £670 over 30. A product fee of £345 will be added to your mortgage on completion.

2) 3.29% fixed until 28/2/18. Payments £835 or £745. Same fee as above.

3) 3.64% fixed until 29/2/20. Payments £868 or £780. A product fee of £845 will be added on completion.

On all of the above a booking fee of £130 will be payable when applying along with a standard survey fee of £205. This will be a very basic report but may be appropriate based on the type of property you are buying. However, if you wanted the more detailed survey, the homebuyers report will cost £410.

Thanks

ACG

There are cheaper deals - especially on a 3 year fixed rate.
But they may have gone with (im assuming Accord?) for a reason?

HER

The paper work does mention accord so assuming they have gone for this. Interesting how you knew this.

Should I query why they have gone for this when their are better options out there?

ACG

I just had a quick look, I didnt check the 5 year fixed rate deals just the 2 and 3 year deals. The rates accord have tally up with what you have given.

Ask them for a copy of the research - this will list the top however many products. I think mine shows around 30. Then if your not happy you can ask the question.

Dont get me wrong, we are not talking about hundreds of pounds.

Personally, Accord could charge 0.1% interest and I would still begrudge using them. Their whole process is very amateurish and hard work. If I had a choice of them or losing the business I genuinely would lose the business. But its your broker doing the work, if he/she is happy to go with them then you should not have too much to worry about.

HER

Thanks ACG for some reassurance . Being a first time buyer, this is all new to me.