using a broker or going direct

jhyt89

Just a question for a FTB, I am purchasing off plan and the completion is due in a few months probably around the turn of the year. Should i go for a broker or direct to Nationwide? I don't have a complicated case.

What are the advantages of using a broker if any?

Would he offer me the products he knows of before I have to pay any fee? I am happy with the rates I have found on nationwide's website. Should I just go direct?

Thanks in advance.

kingstreet

Nationwide offers last six months, with a maximum two week extention. As long as your builder guarantees the property will be finished, you'll be fine.

If, like most builders, we'll have the vagueries of the English weather to contend with and six months may end up as eight or nine, why not use a lender with a longer offer period now and not run the risk of having to reapply when rates might be on the up?

Newbuild brokers are managing stuff like this every day.

Bird, hand, bush etc...?

BTW, you can't pout off your application until the offer will cover the build period as you will be expected to exchange contracts within 28 days of reserving.

amnblog

ICEBERGS


You can only see the top third.


Kingstreet can see the bottom two thirds as well.

jhyt89

kingstreet wrote: »

Nationwide offers last six months, with a maximum two week extention. As long as your builder guarantees the property will be finished, you'll be fine.

If, like most builders, we'll have the vagueries of the English weather to contend with and six months may end up as eight or nine, why not use a lender with a longer offer period now and not run the risk of having to reapply when rates might be on the up?

Newbuild brokers are managing stuff like this every day.

Bird, hand, bush etc...?

BTW, you can't pout off your application until the offer will cover the build period as you will be expected to exchange contracts within 28 days of reserving.

I forgot to mention I am buying off plan from a flipper. So the contract had been exchanged with the developer and transfered to myself now. All that is required is the mortgage and payment of the outstanding amount on completion. The date seems pretty concrete as it was originally sept this year but they have delayed to be sure.

Does this change anything?

Also wasn't aware of offers lasting longer than 6 months.

Thanks.