Lenders Who Only Use Experian

mystic_bertie

Smevchenko wrote: »

It was about 5 years ago to be honest, I would like to think Nationwide are not quite as harsh when it comes to settled defaults. The fees were for conveyancing and valuations etc, not paid to Nationwide, but we lost the money. Tried to get them back from Nationwide as we were only at that stage because they had agreed with us to lend the money. Needless to say, I don't have much love for Nationwide any more.

Hoping to finally get a mortgage soon, put us off for a while, but want our money to be going towards something now.

Good luck!

What a nightmare. You would think that an initial application would be sufficient to secure the mortgage. Sorry to hear that you lost so much.

Im the same as you, i want my money going towards something other than my landlords bank account.

amnblog

mystic_bertie wrote: »

I would have thought that brokers would know who uses who with credit reference agencies but it appears that is not the case.

Experienced brokers do

mystic_bertie

amnblog wrote: »

Experienced brokers do

Are you such a broker? I found your website. I take it your not allowed to link to the company you work for.

what are your fees?

the broker who wasted my time was £300, another broker who could not help was £900, the mortgage brain are no fees, my accountants advisor is £400, freelancer financials are £600.

VFR-Rider

mystic_bertie wrote: »

That would mean phoning quite a few brokers until i found one with none fees or reasonable fees and that know what lenders use experian, i dont have 2 years books this narrows things down. I need a lender that uses experian, this narrows things down. It seems some brokers need to look into things first, they dont know who uses Experian only.

I shortlisted the more prolific ones on here & went with the one I liked the most. As for "fees free" - I wouldn't give my time for free & wouldn't expect another professional to do so either.

If my experience is anything to go buy, you'll know if it fits for you within the first call (which I believe would always be free).

I too had to "work out" who was who here due to the advertising rules.

amnblog

Our terms of business are listed in the contact page of our website.

wantonnoodle

VFR-Rider wrote: »

. As for "fees free" - I wouldn't give my time for free & wouldn't expect another professional to do so either.

We went with a "fee free" broker who was fantastic. He went over and above and held everything together when the conveyancer and the lender were at crossed purposes.

The term "fee free" is a misnomer really - they may not charge the client a fee, but instead they get commission from the lenders. Ours earned around £900 from our mortgage - probably more than we would have been prepared to pay had we gone with a fee paying broker.

mystic_bertie

wantonnoodle wrote: »

We went with a "fee free" broker who was fantastic. He went over and above and held everything together when the conveyancer and the lender were at crossed purposes.

The term "fee free" is a misnomer really - they may not charge the client a fee, but instead they get commission from the lenders. Ours earned around £900 from our mortgage - probably more than we would have been prepared to pay had we gone with a fee paying broker.

Yes they do get paid for their services. So that means the ones you do pay a fee to also get a fee from the lender. One place told me the fee was £900 but could not help me lol. :rotfl:

[Deleted User]

mystic_bertie wrote: »

So that means the ones you do pay a fee to also get a fee from the lender.

Unless they return that commission to you.

mystic_bertie

Deleted_User wrote: »

Unless they return that commission to you.

I did not know this kind of thing happened.

amnblog

wantonnoodle wrote: »

The term "fee free" is a misnomer really - they may not charge the client a fee, but instead they get commission from the lenders. Ours earned around £900 from our mortgage - probably more than we would have been prepared to pay had we gone with a fee paying broker.

What were you expecting from 'Fees free'? The Broker does not get paid at all?