FTB mortgage without a broker

David_White

Mishomeister wrote: »

I would strongly suggest you try the below lender. Their criteria is really good.


https://togethermoney.com/personal-lending/mortgages/

Congratulations on winning the award for worst advice of 2017!

*slow clap*

Dear God please don't listen to this guy.

ACG

David_White wrote: »

Congratulations on winning the award for worst advice of 2017!

*slow clap*

Dear God please don't listen to this guy.

Haha. I seen Together Money and my first thought was that it must be a broker as it cant be Together the lender.

Please PLEASE do not go to Together. 90% of the cases I do are for people with bad credit and even those people rarely end up with Together.

I could reel off for hours about how the average person will not need Together. All you need to know is that if you are considering Together, you need a broker.

amnblog

I think the ref to TM is tongue in cheek to make a point guys.

eschaton

Charlotte09 wrote: »

His argument is we have no debts & all the paperwork & nothing complicated to work round. So he’s happy to do it. I will be passing this information to him and maybe he’ll change his mind because surely getting advice never hurt nobody.

Seems straight forward enough for him to do himself.

I used a broker once in 2005 it took about a week to find out that Nationwide wouldn't lend the amount I needed. I then binned him and then did it myself again. A lot easier/quicker and no fee to pay.

In the long term it worked out even better as I found a tracker rate 0.99% above base rate.

ACG

eschaton wrote: »

Seems straight forward enough for him to do himself.

I used a broker once in 2005 it took about a week to find out that Nationwide wouldn't lend the amount I needed. I then binned him and then did it myself again. A lot easier/quicker and no fee to pay.

In the long term it worked out even better as I found a tracker rate 0.99% above base rate.

You will see from my posts in this thread, I am not one to say everyone should use a broker come what may, but the market was massively different in 2015 let alone 2005.

Lenders are fussier and underwriting has become stricter in the main.

Amst

haras_nosirrah wrote: »

This is crazy advice. So if it is a free broker they aren't charging you. You get their free advice and then choose to do all the donkey work rather than getting them to do it for free. Errr why Also means that if their advice was wrong you have no comeback as you arranged the mortgage yourself. If the lender says no you have to start again with a new lender rather than the broker just switching it over and again doing the donkey work. Seems pointless if you aren't even paying for it

It's not bad advice as you use them to do the research but when it comes to using their admin service you take control back. Yes you aren't paying them either way, but when you've sent documents in on Monday but they don't get forwarded/uploaded until Thursday, takes 2 days to be reviewed and you then get the update on the following Friday because they're overworked and underpaid - that is what you're 'not' paying for.

Let them do the research (saving time) but handle the admin yourself by applying directly. :T

kingstreet

Amst wrote: »

It's not bad advice as you use them to do the research but when it comes to using their admin service you take control back. Yes you aren't paying them either way, but when you've sent documents in on Monday but they don't get forwarded/uploaded until Thursday, takes 2 days to be reviewed and you then get the update on the following Friday because they're overworked and underpaid - that is what you're 'not' paying for.

Let them do the research (saving time) but handle the admin yourself by applying directly. :T

... or simply do your own research and don't involve a broker at all. It's easy enough these days.

haras_nosirrah

and if it goes wrong - you can't complain to the broker - they didn't do the mortgage.

NelliePie

There are plenty of brokers around, who's job it is is to know what mortgages are out there, what you want, what you should be able to get and stick it all together to get you the best mortgage for you. It's literally their job and an be free! By all means see if you can find a better deal yourselves, but at least give the professionals a chance, it could save you thousands

Amst

haras_nosirrah wrote: »

and if it goes wrong - you can't complain to the broker - they didn't do the mortgage.

If they're worth their salt and actually run a correct DIP and do a proper fact find it shouldn't go wrong...if it does then you're not better off going with them. :rotfl: