How hard will it be to sort out my own remortgage?

khampson

My first 2 year fixed mortgage is coming to and end shortly, I bought my house 2 years ago and I paid the estateagent a fix £299 fee to sort my renewals out while ever I have a mortgage so they find me the best deal for me. They sort all the paperwork out and its just a case of me giving bank statements and id and so on.

Trouble is they have sorted the best deal out for me but when I went on a comparison site I found even better deals with arrangement fees added to the mortgage.

If I choose to go with these other better deals how hard or easy will it be for me to do this? I don't want to get into a situation where I am having to make numerous phone calls and filling paperwork in to get it all sorted as I am not very good at this sort of thing.

Can anyone give me advice before I choose what direction to go in.

Thank you.

ExpertAdvice

Hi,

You might find a better deal on a comparison site but it doesn't necessarily mean its right for you or you may even get it based on your circumstances. There are many factors that affect the application decision such as income, age, visa status, outgoings, debts, credit file etc etc etc.

If you are looking to do it yourself and change the lenders, you will most likely have to go through quite a bit of paperwork and might have to make alot of phone calls to chase the lender. If you are not comfortable or confident doing this then it would be worth paying the broker and sorting it all out for you.

Cornucopia

The obvious solution is to take your "better" deals to the EA's broker and ask them to match it.

What sort of difference are we talking about?

dimbo61

now the estate agents mortgage advisor may not be whole of market and he/she will not look at deals from some lenders such as YBS as they deal direct with borrowers.
They have overheads to pay for, nice office, sharp suit, gas,Electric, council tax, water rates, etc.
Is it a simple job ? Full time employed ? Ltv say 60/75/80% credit history, income multiplier 3x income, 4x income

khampson

2 year fixed term

Based on property value £90000
Current owed £64500

Best deal with broker (Leeds bs)
£308 per month

Compared with fees added (post office)
£281 per month

Keith

Cornucopia

Which fee mortgage with the PO is it? Some of those fees are very high, and for a saving of £27 per month, it may be that the broker has excluded them as not VFM.

kingstreet

What customer retention products is your current lender offering?

khampson

These are based on 22 year mortgage

khampson

I am currently paying £331 to Leeds bs, they have offered me another 2 year fixed for £320.

I don't understand why the mortgage broker can offer me £308 with my current mortgage provider but can't offer it me direct

Cornucopia

Brokers sometimes have access to better deals than lenders offer direct to customers. It's just the way it works. (A good broker can save the Lender time and hassle, though, so it's not all one-way).

comeandgo

I arranged our last mortgage myself. We had plenty equity, no credit problems and both had full employment with good wages. No problem.