Is it worth speaking to a mortgage advisor?

goldlemontree

I am putting down a considerable deposit so I feel I could get a good rate from most lenders, I have spoken to an advisor at the estate agency and though they offer a good rate, after checking moneysavingexpert best buys I see there are better rates on there, however, I don't know how to check I'm eligible for them without affecting my credit rating. Also, I know these sites don't cover all that a mortgage advisor might, is it worth the money to find an advisor taking into accounts the fees they would also charge?

G_M

Do not use the EA adviser. he's on commission and unlikely to be fully independant.

While on the subject, also do not use the EA recommended solicitor.....

Surrey_EA

Use an independent broker, plenty of good ones around, rarely will they be found in the offices of an estate agent!

However, as for solicitors, it is not always the case to avoid the firm recommended by the estate agent. Of course there is never a good reason to use the services of Countrywide conveyancing, but a good local independent will normally be able to point you in the direction of a couple of good specialist conveyancers.

Rambosmum

Use an independent broker, there are some very good ones out there, and free ones - such as London and Country, who I used both times and were fantastic.

laughingcow81

Yep, we've used London and Country (and are currently using them) and they are great. They sometimes have exclusive rates.

goldlemontree

London and country don't check whole of market though I believe? When I am looking for mortgages, do I put in the value of the house as listed by the seller or the agreed sale price?

Surrey_EA

goldlemontree wrote: »

London and country don't check whole of market though I believe? When I am looking for mortgages, do I put in the value of the house as listed by the seller or the agreed sale price?

Agreed sale price.

goldlemontree

Just wondering whether anyone is west midlands/Birmingham based and knows of any local mortgage brokers or conveyancing solicitors who are good but don't charge a fortune for unnecessary add ons?

JimmyTheWig

There's a guy on here, kingstreet, who operates in that area.
I don't know him personally, nor do I know of anyone who has used his services. But on here he always talks a lot of sense.

Rambosmum

goldlemontree wrote: »

London and country don't check whole of market though I believe? When I am looking for mortgages, do I put in the value of the house as listed by the seller or the agreed sale price?

They check 97% of the whole market I believe - much much better than the EA mortgage advisors who usually have about 8 lenders they are affiliated with. L&C will tell you which they don't check (I know HSBC is one and ING used to be) and you could check those yourself. Or you could fork out for a mortgage advisor.

kingstreet

JimmyTheWig wrote: »

There's a guy on here, kingstreet, who operates in that area.
I don't know him personally, nor do I know of anyone who has used his services. But on here he always talks a lot of sense.

Thank you for the kind words.

We're upto our ears in it at the moment as we have just taken on another newbuild site and our existing connections have recently released property on other new sites.

FWIW - we charge £250 and receive commission from lenders. We source only from lenders who accept business from brokers, so any purchaser would have to research direct to lender products and decide if they are preferable.

This is how the bulk of "whole market" brokers work.