Fees???

haras_nosirrah

Anyone can look at a comparison site and find the cheapest product

Being able to get it however...

A mortgage isn't the same as buying a can of beans from tesco. There is a lot more work and knowledge involved then going - I'll have the cheapest please

Rachel_Pierson

haras_nosirrah wrote: »

First direct, default and 90% borrowing do not go together

If the client now acts on your advice and calls first direct they would be subjected to a circa 2/3 hour phone call and will likely be declined so causing an unnecessary credit check and massive waste of time

You can't name a lender without knowing the persons circumstances and whether they would qualify for that lender

What advice would that be? This advice? :

Rachel_Pierson wrote: »

Just did a quick, scrappy search. The first one I looked at happened to be First Direct (whom I don't recommend...

Perhaps you can tell me where it differs from your position?

kirtsypoos

Rachel_Pierson wrote: »

The first one I looked at happened to be First Direct (whom I don't recommend as I've just experienced issues with their conveyancer.)

You did not say because of the OPs circumstances. You said because you have had issues with them. I notice you removed this bit from your quoted section though...

haras_nosirrah

So are you basically saying

So I have found the cheapest rate which is about £600 a month and a rate of 2.59% fees free. This is great and I can have it because I am awesome but unfortunately due to your history you can't have it so na na na na na.

what is the point of mentioning a particular deal when you have no idea if they can have it and as the client has pointed out they have a historic default (and yes within 6 years it will affect things) then basically you are rubbing this deal in their face

Rachel_Pierson

kirtsypoos wrote: »

You did not say because of the OPs circumstances. You said because you have had issues with them. I notice you removed this but from your quoted section though...

It doesn't matter what extra info I gave about my personal dealings. I did not advise the OP to go to First Direct. So alleging that I did is just a straw man argument.

I do, however, advise anyone in a similar position to the OP to do their own research, rather than have some third party that has access to only part of the market giving them blinkered advice and charging for the privilege.

kirtsypoos

By referring to that deal in particular you offered it an an option for them to consider, which they could not do with their financial history.

Rachel_Pierson

haras_nosirrah wrote: »

So are you basically saying

So I have found the cheapest rate which is about £600 a month and a rate of 2.59% fees free. This is great and I can have it because I am awesome but unfortunately due to your history you can't have it so na na na na na.

what is the point of mentioning a particular deal when you have no idea if they can have it and as the client has pointed out they have a historic default (and yes within 6 years it will affect things) then basically you are rubbing this deal in their face

I respect your opinion. Even though I disagree with it. As mentioned, I had a period where I couldn't pay my mortgage within the past six years. I've had two offers out of two applications. But then, I didn't use a Broker.

Rachel_Pierson

kirtsypoos wrote: »

By referring to that deal in particular you offered it an an option for them to consider, which they could not do with their financial history.

Play a different tune. I'm not dancing to that one, and I explained why.

haras_nosirrah

The point is though that brokers are very regulated. If a broker gave the client rates, payments etc without knowing their salary, circumstances and financial history they would be crucified by the regulators. Let the op do their own research and consult a broker to consolidate their opinion. if you want to tell people who to go to for their mortgage do the many many exams to get to professional status and then you can do it. If the op acted on your advice and wasted hours of their time and made their credit worse with unnecessary checks then they have no come back.

wantahouse

Wow didn't realise this was all going on. For the record having done my own research I am well aware that I will need to use a broker to secure a mortgage, due to my history, and have already made contact with the one I want to use.
I did take the advice with a pinch of salt as I know that it is unlikely that I will secure anything like the rate suggested. It also didn't have anything to do with the question I asked and felt as though it was an opportunity to bash brokers.