How the heck do you find a decent broker?

Elfinpie

So, we're on our third mortgage advisor (recommended by a friend after rubbish advice from the first two) who had all of our details 2.5 weeks ago. We have both chased via phone and email numerous times. At the end of this week, after multiple questioning of what had been done I saw two hard searches on our credit files for Bank of Ireland and Platform. I'm in no way an expert in who to approach but from reading this forum I've learnt that those two are not the two you'd pick for an adverse customer I dont know what to do, we now have two hard searches on our credit files from banks that would never accept us. When I questioned our broker he replied with "I'm just trying to get you accepted". I feel like there is no hope now. How on earth do you know how to pick a decent broker? We just want to give up

PixelPound

So your broker never told you they were applying for them, before applying? And applied to the second one after the first rejection and never told you before applying then? I thought they had to tell you before applying. Is this a broker you have paid a fee to, will pay a fee to once accepted, or is fee free. Your friend may not have had an adverse mortgage and so whilst the broker was right for them, not right for you.

Don't pick a broker who advertises they "specialise" in adverse mortgages, often they just know they'll get more desperate clients. Do pick one who is open and honest about your prospects and has had success with similar clients. We were "adverse" but ended up with a high street mortgage. We initially went with a fee-free one and got a rejection (luckily soft search) who then suggested specialist mortgages, we left it a week, and then armed with info went on the search, querying with several brokers using their initial free sessions before settling for one who was completely open about our choices (which wasn't as bad as we thought or some of the other brokers made out)

You don't say how soon you need your mortgage, as with two hard searches it might be wise to take time to find a broker before applying.

Torfoxwell

Depends on how adverse you are i think...there are a couple on here that are very knowledgeable

ACG

First of all tell them to stop doing credit checks on you without speaking to you first.

You are right, those 2 lenders are for those with very good credit histories only. I think you are right in ditching them as it is pretty clear they are not ure where to go.

It sounds like you have exhausted asking friends and family. Have you tried google? If I am booking anyone for a job I tend to just call them and have a chat to get a feel for them.

Elfinpie

No he didn't tell us he was applying either time. I didn't realise he was supposed to! My friend's husband had a number of late payments, high credit card bill etc, as do we, which is why she recommended him. He does charge a fee but only once the application is accepted, so at least we haven't lost any money yet.

We have seen a house we love but we are renting so it's not urgent.