Go direct or use broker

nickyg2000

Ive been talking to which mortage advisers and they have recommended a mortage product for us with Natiowide. They say it suits are situation and that nationwide should led us the money we need. The only thing is which have a £500 broker fee (£250 of which is payable upfront) and there is a £285 valuation fee.

If we go direct there are no fee's, free valuation and £250 cash back on completion.

So my question is what benifits is there to sticking with using my broker rather than go direct? is it safer ad more likley to be accepted? if we do use a broker and our buyer pulls out we are £535 out of pocket!

socmwils23

We were advised by which to make an application with natwest. As part of that recommendation they stated we should contact natwest direct to see if they could offer us anything and thus save the broker fee. As it turned out the deal which recommended was a broker specific deal and natwest advised us to use the broker.

Id say its probably worth contacting nationwide and seeing what they say. You can still proceed with which if thats what you decide to do after speaking to nationwide. Just make sure the deal you are offered with which is the same you can get at Nationwide.

nickyg2000

Hello,
The deal is a 4 year fix rather than a five but at a lower rate with the benifits listed.

socmwils23

Like i say the only way to know is to phone nationwide and quote them the deal. They will be able to tell you if they can do it direct.

We needed a 3 year deal with natwest due to porting our current mortgage already on a fixed rate. Which could offer this through natwest, our current mortgage provider, but natwest direct could only offer two or five year deals.

if you phone them up they will quickly be able to tell you and then you can make a decision based on that.

nickyg2000

The decision is not based on the deal, like I said the deal direct is better. More is it safer using a broker to get accepted