We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lenders and brokers
Comments
-
makeitstop wrote: »Going through the process with Accord or YBS.?
Through YBSmakeitstop wrote: »The two she (I) has been considering are with either Tesco, at 3.09% with £450 set up or with Yorkshire at 2.59% and £1120 set up fee.
The highest YBS fee is like £845 (although there's a £130 app fee + survey so pretty much the same).
What price range/LTV is she looking at? For me (lower cost house) a higher rate with lower fees is better.Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
Cashback sites: £900 | £30k in 2016: £30,300 (101%)0 -
How much is the mortgage? If the Mortgage is up to around £100-150k then chances are when you do the sums a lender with no or a small fee is going to be cheaper.
As a basic calculation (although its not quite the same if you add the fee) you could just mutiply the payments by 24 (if she is fixing in for 2 years) and add the fee to get a rough total paid over 2 years.
Brokers can not "price match".I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The mortgage would only be for £63K approx.
Yorkshire looks good with several options to suit, but non-broker, which she would rather not do. They have rates ranging from £250 a month approx to nearer £285 a month, with the latter having only a £130 fee and £1000 cashback. Still, not a broker in sight for that either of those.
HSBC and Abbey can do something at the same monthly as above but with fee of £30 and nowt respectively, with Abbey offering £250 cashback too.
Who amonst all those (or others) works with brokers I don't know, and I certainly wouldn't know whether any are the right choice either.
I guess the thing to do is to speak with broker and get them onto it, although for the level of mortgage, I'm not sure any would be falling over themselves to find out.0 -
Does she have a dodgy credit history? If not, why is she so reluctant to sit in a 2 hour meeting in branch? Basically just find the lowest fees mortgage & it'll be the best for something so tiny. It doesn't even have to be the lowest fee on the market and would still work out cheaper than paying an extra £500 for a broker.
If dodgy credit history then broker could advise who might accept her I guessMortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
Cashback sites: £900 | £30k in 2016: £30,300 (101%)0 -
If it's a small mortgage, no-fees at all and cashback is probably better than low rate.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards