Should I use a mortgage adviser?

amnblog

Scottycameron1 wrote: »

Remember the majority of the people who will reply to you on this are mortgage brokers.

Yes, we are the people pulling borrowers who went direct 'out of the fire' every day.

Gunther_Golf

I have to say i was in two minds about whether or not to fly solo or have a broker take care of things. I am delighted that i went down the broker route. Fee-free as he collects fee from lender and he dealt with everything from start to finish from AIP to Mortgage Offer in only 8 days.

Superb service i have to say and no question asked was too daft for him. We are FTB and were apprehensive about the whole process - Process was smooth as silk thanks to our broker

[Deleted User]

I've done 3 mortgages now without. I really did a lot of research and number crunching, I work in finance I'm not saying that makes me any better but I felt comfortable without. If you don't feel comfortable going it alone then use one.

pjcox2005

I'd say I was very financially literate and comfortably meet mortgage lending criteria set, but have still used a broker for every mortgage to date. I use one that has the fee from the mortgage provider rather than a direct payment. I feel there systems are better setup to see rates, offers and show overall cost over period of low interest rate (e.g. 2 year intro) being able to reflect any costs charged.


Hassle factor is definitely reduced as can be guided and do it all in one sitting.


Only one I may not is the next given rates are so low, if lender will offer a new rate at similarly low amounts then I may just stay and not require the additional hassle as won't be much in it (assuming circumstances don't change in future).

SavingSteve

In your situation OP (first time buyer, unsure of next steps, afraid you may mess something up) I'd definitely be using a broker.

However, unless you have a small deposit (i.e. only 5%), bad credit or feel tight on affordability I'd suggest you can get the services of a Broker without an upfront fee.

£400 fee sounds steep if you're a straightforward case, in which scenario I'd suggest finding a no fee (remunerated only by Mortgage Co) broker.

Whether fee or no-fee, make sure they are a whole of market broker.

elly.alice

Whistler23 wrote: »

Advisor all day long.

Also you had an offer accepted before an AIP, that sounds risky, and from reading on here I wouldn't have though any estate agent should have out forward an offer without checking your finances are in order? You are confident your credit files are all in order?

At this point we'd done everything except the credit check with the adviser we've been seeing. Now have an AIP and everything is as our adviser said it would be, which is promising.

From advice on here it seems I probably will end up going for broke[r] (sorry, terrible pun) and sticking with paying someone else to do our work. Will probably make me feel more comfortable in the long run! I guess it also helps our friend used the same guy just over a year ago and very much recommended him.

Thanks for the advice.