Mortgage Brokers

MarkT1

Hi All,

Just after some advice on Mortgage Brokers, does anyone have any recommendations on which Mortgage Broker to use for an application (FTB). I have spoken to London and Country and Just Remortgages, however as I have never used any of them before, just after some feedback and advice.

Thank you,
Mark.

ACG

Never heard of Just Mortgages before - although that means nothing. I bet half the brokers in the country have never been heard of outside of there immediate area.
L&C are a little bit hit and miss on here. have a search for L&C and london and country - you will see some reviews on this site.

MarkT1

Hi, thank you for your response, I will do some research into L&C and see what I think overall. The other company are one who contacted me via Experian. I hadn't heard of them either. I am from Essex, is there any other company anyone would suggest in this area? Thank you.

Mortgage_Mark_2

Just Remortgages are based virtually next door to us in Whiteley (Hampshire - between Southampton and Portsmouth), funnily enough..!

( I know nothing about them though, to be perfectly honest...!)

Nur

Hi,

be cautious when using London and Country. I have used them previously and they were ok but the last time i used them, their service was absolutely rubbish. very unprofessional and no one answers their phones or returns calls. very disappointed.

Malmo

Worth reading the information about brokers at this MSE link.

Then, once you are ready to search for a broker, try starting a local broker search at unbiased.co.uk.

On the home page, next to the search box, select Mortgage Adviser and enter your postcode and hit search.

When the search results are displayed, in the filters on the left hand side:
Un-tick the Only show sponsored results box
Expand the heading More filters and under Adviser restrictions, tick the box for Mortgage Broker (Whole of Market). This should give you a list of potential brokers to contact in your locality.

Make sure you understand from the brokers you speak to what fees will be charged and at what point in the process. Ideally (based on my personal experience), they'll email you a couple of documents; 1) their Terms of Business, which will outline/summarise the service they provide and their fees; 2) a Fact Find document that you need to complete to help them understand your full circumstances & requirements.

Mortgage_Mark_2

Unbiased is good but there are an awful lot of firms not on that website.

As an example, it only lists about 10 companies for our company postcode, which is slap bang between Portsmouth and Southampton, within 28 miles...!

Nick1111

Hi All,
I need some advice please, my mortgage broker approached me and got me a new remortgage offer from a lender. But my previous mortgage where my fixed term was ending, offered me very good product, so finally remained with them. But my mortgage broker is asking for money for getting me the offer, which I did not accept. Do I need to pay anything for my mortgage broker. No initial fee was agreed between us.
Thanks

Senior_Paper_Monitor

What did the:
+ Initial Disclosure Document (Keyfacts - about our services)
+ Client Agreement / Fee agreement
+ Mortgage Illustration (Keyfacts)
say about broker's fees ?

Mortgage_Mark_2

As above, any fees payable have to be clearly outlined in the Initial Disclosure Document that you would have been issued with on engagement (face-to-face you'd be given this up front, over the phone it would follow by email). This fee would then be repeated in various documents outlining costs of mortgage options, such as the illustration (KFI).

Check your IDD as a matter of urgency as no broker is allowed to charge anything that is not outlined on this document as it sets out the terms of engagement between yourself and them.

Nick1111

The KFI says,
The mortgage lender will pay the intermediary amount of £1,050.00
in cash and/or benefits if I take out this mortgage in full.
Does not mention anything about me paying anyone.