Any opinions/experience of Digital mortgages?

CG77

Hi all,

Following the disappointment of the last house purchase falling through, our broker has recommended Digital this time. I’ve had a very brief look online and they seem to be a new broker only mortgage company, and I have seen only negative reviews! I know this is usual as more people feel passionate enough to report bad experiences but still!

Any opinions or experiences?

Thank you

garyhemming

Hi, I'm a broker and work with Digital Mortgages in the commercial mortgage space, but not residential. My experience from the commercial side is that the products are excellent, but the service can sometimes be a little slow as they are new and growing rapidly.

A lot of the early teething problems have now been sorted and in general they are an excellent lender.

I would ask the broker for an honest appraisal of their current timescales before committing. Also, as Digital Mortgages are so new and evolving so quickly, it's worth considering that a negative experience 3 months ago is likely to have been identified and ironed out by now. As with many rapidly growing companies, there has been a lot of growth of infrastructure and fine tuning of processes behind the scenes in a short time.

CG77

Thank you very much Gary.

In your opinion do they overly scrutinise payslips/bank statements etc? I know all will and of course expect it but some reviews said they were extra picky, picking up on transfers, questioning them and then declining even though there were perfectly good explanations. These people claim to have then gone elsewhere and had no issues at all.

What’s your experience in this regard? Are their criteria and checks more rigorous than elsewhere or did these people just get unlucky?

Thank you