Easier Mortgage Applications?

TimothyJohn12

Just google it i.e "online mortgage broker"

NovaW

TimothyJohn12 wrote: »

Just google it i.e "online mortgage broker"

Alternatively just Google "mortgage broker". It seems like you're afraid to use the banks so you might find a few alternatives this way.

JaneKlue

Unfortunately I don't bank with HSBC and the process with Natwest just hasn't been very fruitful, hence me looking at alternatives i.e. online mortgage broker advisors and the rest

Pdbaggett

How complex is your case I.e lots of debt? Requiring a large mortgage? History of no repayment? Online is easy if you are a straight forward case if not perhaps a broker would be more beneficial.

I don't subscribe to the notion that a first time buyer needs a helping hand though there is so much information on the Internet covering every aspect of the process it's pretty easy to suss out really.

David_White

Pdbaggett wrote: »

I don't subscribe to the notion that a first time buyer needs a helping hand though there is so much information on the Internet covering every aspect of the process it's pretty easy to suss out really.

You would be surprised what the knowledge gap is like out there.

Personally I think schools should be teaching basic finance skills such as how an overdraft, credit card, mortgage works etc

I have spoken to a huge amount of people that struggle to get their head around obtaining their credit reports let alone a mortgage application.

Irenita

Only if the online mortgage provider consists of a machine optimizing the best options out there in the market, then using online mortgage brokers could be quicker than working with traditional mortgage broker advisors.

If the online mortgage site is just asking questions to avoid the same process in person, to then call you and continue with it.. not much difference really.

JaneKlue

I agree that hand holding isn't needed, I think really why I broached this topic was because of the volume of information out there, it's easy to have an information overload. We're all consumers at the end of the day and we're lucky/privileged in the fact that we have peer review/customer review systems which act as a heads up of sorts.

I know if I had a bad experience with a product or service somewhere I would alert someone to it. As a case in point I was at a bakery the other day and we generally love the food there, but as a fairly new place the service has become progressively worse and while we were happy to pay a premium before when the service was actually good, it's become less justified as the service has deteriorated...

As someone who is fairly passionate about business... what I saw was good business, a niche proposition but I also saw sub standard service... I'll send a note to the manager or give him a random call... not because I'm whiny... but because I know they're not far from doing really well in a very competitive market, if only they brushed up on their service delivery.

I guess I started this thread, because I was rather hoping that there may be some strong opinionated people here, who could share some of their experiences... with regards to securing mortgages, my case has only been unique in that I wasn't happy with the service I was receiving with the institution I actually bank with. Hence me looking at alternatives, preferably tried and tested. I've followed all the advice here and will send across detailed findings shortly.

csgohan4

Conrad wrote: »

Broker I know well has just got in trouble big time with her Network(Countrywide) for not meeting clients face to face to verify ID

I never met my broker in person, just over the phone, but did give him passport, driving license e.t.c.

kingstreet

If you are set up to do face to face, you have to do exactly that.

If you are set up for face to face and start doing remote, your network needs to know to ensure your anti-fraud processes are robust.

Normally, as a minimum you have to obtain two lots of ID and two lots of proof of address where one of each is typical for F-F.

JaneKlue

For a first time buyer with no experience or knowledge of purchasing a property the entire process can feel very complex and daunting.

I've heard a lot and read a lot about getting caught up in paying too much on interest and how homeowners often get up caught up in paying higher standard variable rates which are prescribed by lenders. I guess that's what's been gnawing away at me personally. I've also found some resources which are quite helpful on the subject though. But still it seems a bit convoluted.