Broker or Direct bad credit cleared

darkman13

Hi guys i had a defult which i paid and 6 years up and now clear, no problems on credit file except 2 late payments 5 years a go; i am looking for a mortgage of 200k with 250k deposit thus 44.4 ltv and bank with Barclays. I am not sure if i should go direct or via broker what would you do?

ACG

You have the choice, I would probably avoid whoever the default was with and any of their linked companies...but that is a generalisation and not a cut and dry rule as it depends on the lender.

A broker will not just find you a competitive deal but also take care of everything. But you should be more than capable to place the mortgage yourself based on what you have said. Personally I HATE HATE HATE Barclays at the minute. I have tried to call their call centre 3 times this week and the best call wait time I have had is 40 minutes, the worst was over an hour.

kingstreet

ACG wrote: »

Personally I HATE HATE HATE Barclays at the minute. I have tried to call their call centre 3 times this week and the best call wait time I have had is 40 minutes, the worst was over an hour.

In the opinion of most brokers, if the answer is Barclays, it must have been a bl**dy silly question!

It cannot be trusted if you face any kind of target/deadline for exchanging contracts. Newbuild for instance.

Neutrinno

ACG wrote: »

You have the choice, I would probably avoid whoever the default was with and any of their linked companies...but that is a generalisation and not a cut and dry rule as it depends on the lender.

A broker will not just find you a competitive deal but also take care of everything. But you should be more than capable to place the mortgage yourself based on what you have said. Personally I HATE HATE HATE Barclays at the minute. I have tried to call their call centre 3 times this week and the best call wait time I have had is 40 minutes, the worst was over an hour.

What on Earth is going on with them at the moment? I tried calling them earlier and advised their current waiting time was over an hour!! :huh:

ACG

The stupid thing is, in April I sent them 2 cases. One went to offer in 7 days, the other we are in week 5 ot 6. We were expecting an offer today (we were actually expecting an offer last week but hey ho) today they come back and ask for proof of address for one of the applicants...why not ask for that when you asked for applicant 2 proof of address.

The issue is they cover a part of the market nobody else does, 3 apps/1 on deeds or gifted deposit from in laws on a single applicant.