Mortgage app. credit search

jaytol

Hi
After searching for months trying to find a lender (self employed) , i'm about to go through a mortgage app with a broker. The brokers have said they they will more or less be able to obtain the amount i need to borrow, but their fee is £ 2500.
But now i have found that Barclays may be able to lend me the same amount without fees . Like the brokers this is only a quote based on income and situation etc. They have offered me a mortgage application interview ( 3 hrs).
The question being if i go through the Barclays appl. thus having a credit search , will this affect my credit score ?
If i don't get the amount i need from Barclays and then try with the brokers will it affect my chances of being successful with them.
Obviously i don't want to pay £2500 to the brokers but it could scupper me altogether !
Please advise
Thanks

Malmo

£2500 sounds extraordinarily high for a broker fee. What is it about your circumstances that justifies such a high fee? Have you only spoken to one broker?

kingstreet

That fee is 10 x what we charge.

Only you can decide if it represents value for money and perhaps talking to other brokers may give you a better perspective.

A credit search may make no difference at all, or your credit profile may be bad enough that another search tips you from pass to fail.

No-one knows.

FWIW, self-employed with one year's accounts, sub-contractors, contractors wanting to borrow based on their daily contact rate are all fairly regular issues these days, so you must have something ultra awkward in your make-up to warrant that kind of fee.

jaytol

I've tried dozens of brokers and lenders but this was the only one until now that was able to find a lender. But it seems since the General election i've had another two brokers say yes but not the right amount and one bank
I have a sketchy employment background but my credit report reads ' Excellent' but the score seems average 976.
I had one search done three months ago but that's all. Just really worried that as you say it may tip the balance and leave me with nothing.As far as the broker's fee i'm pretty angry.