Finding a whole of market broker?

Disorganised_Me

Hi all,

As the post title suggests I'm looking for advice on the best way to find a whole of market mortgage broker.

I appreciate that I'll pay a fee - any guidance on how much this usually is?

I've asked friends and family for recommendations but none forthcoming, they usually organise these things themselves. I've used a mortgage broker before but it was through an estate agent and on reflection I don't think that they got me the best deal at the time...

I've now gone on to the SVR with Santander but have some credit card debt that I would like to get rid off before applying so as to not affect the affordability checks that I hear are prevalent now.

I'm also a bit worried that a couple of recently returned direct debits, a frustrating oversight on my part, will negatively affect any application. Anyone know if this is the case and whether this is recorded on your credit file.. It was a btl mortgage payment aaarrrggghhh.... It's never happened before and won't again - the charges will put paid to that. It's not cheap.

Any advice appreciated as I feel opening the yellow pages or a Google search won't be appropriate.

Thanks

Disorganised_Me

Malmo

Avoid estate agent based mortgage brokers/advisers.

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.

Ask about their experience and make sure you understand from the brokers you speak to what fees will be charged and at what point in the process. They can be fee-free or fee. Ideally, after contacting them, they'll email you a couple of documents;

• their Terms of Business or Initial Disclosure Document (IDD), which will outline/summarise the service they provide and their fees along with how they are regulated by the FCA etc;
• possibly a Fact Find document that you need to complete to help them understand your full circumstances & requirements.

The returned Direct Debits will most likely show as status 1 for the affected month on your credit history if the company reports to 1, 2 or all 3 Credit Reference Agencies (Experian, Equifax, Callcredit). Obtain the statutory reports from the agencies and see which agencies the company reports to.

ACG

I would suggest looking on google, calling them up and having a chat. See if you get a good feel with them.

Explain your situation and see if they feel confident, and if you feel confident in them.

GMS

Get copies of credit reports from Experian, Equifax and Call Credit to see if the returned DD's have had an effect.

Look to avoid lenders who would want bank statements.

Good Luck