One for the brokers

csgohan4

TravelBugHappy wrote: »

Again you are presuming that Nationwide have massive delays based on what?

I presume that direct applications may take a little longer but I don't think that these delays are dealbreakers

Perhaps they take the usual 3 months or so, who knows, but someone else mentioned earlier as a broker they have seen that they are prone to delays.


Either way it's your choice to choose how you get your mortgage, every deal has negative points and it is whether balancing this is it worth more than the negatives.


Something to consider also the seller's point of view. Will they wait for your delayed mortgage app to go through. Something to weigh up when dealing with lenders direct.


In addition, you will be expected to do everything for the lender, so expect more time off work. Compared to a Broker who will deal mostly with the main issues and if they need anything they contact you. Ideally you would have uploaded/ mailed everything they need before hand.

Pixie5740

Well on Friday I was told that my mortgage broker would contact me on Monday but when I emailed him my thoughts in my OP I got an "out of office" email back. I suppose who ever penciled the call in his diary didn't realise he was still going to be off. No biggie. So I phoned this morning and left a message.

The illustration my mortgage broker provided the other week is as follows:

• Halifax
• 2 year fixed
• 90% LTV
• 4.99% APR

That interest rate looks a bit steep even for a 90% LTV. So I'm hoping there's something better out there when I speak with him.

My landlord has just served notice to quit so I need to be out my flat by 22nd July. It never rains but it pours.

Pixie5740

What a difference a call makes.

It seems my broker thought I was still self-employed contractor even though I know I told him in December that I was now in full time employment. Hence the crappy Halifax rate and possibly why he didn't think HTB MG was an option. Doh!

He's going to email through some further illustrations for other lenders.