going direct to a lender instead of via broker

nudda

So I have just found out the broker I am talking to is not truely whole of marrket which sucks as I want to get the best deal possible.

I only have 1 payslip of permanent employment so far so dont know which banks will accept this. Is there a list somewhere ? Trigold tells you but I only saw this via the broker, as I dont have access.

Also, as a FTB, would it make sense to go directly to a bank or via a broker Thinking it may not be worth pursuing direct if Broker makes more sense right now.

thanks

[Deleted User]

It might be worth a look at this - https://www.theguardian.com/money/2014/nov/24/mortgage-broker-bank-building-society

Being an FTBer, with only one month of payslips... I'm expecting going direct will be tough - are you in a term of probation in your job?

I went for First direct when I moved home last time, which you can't get through a broker. TBH, <TRIGGER WARNING>I don't trust people who sell financial services for a living much so I was glad to do it on my own!

nudda

good link.
No I am not in probation.
Is there an easy way to find out who will not accept 1 month payslip ? All other things I have should be fine.

Thrugelmir

nudda wrote: »

Is there an easy way to find out who will not accept 1 month payslip ?

No one would use a broker to source a mortgage if all the requisite information was that readily available.

You can go direct. Expect to do a lot of leg work though.

Lolly88

Tesco will accept this as will nationwide. The 'easy way' to find this out - is to engage a broker will do this part of the process for you. If you don't wish to engage a broker then you'll have to just search through different lenders criteria.

nudda

ok thanks.
HSBC has a good 5 year fixed right now and 1 month payslip requirement as per here ... http://www.intermediaries.hsbc.co.uk/criteria/residential-lending-criteria.html with 4.75x salary. I guess I will go into town tomorrow and talk to some banks to get an idea.

Thanks!

Lolly88

nudda wrote: »

ok thanks.
HSBC has a good 5 year fixed right now and 1 month payslip requirement as per here ... http://www.intermediaries.hsbc.co.uk/criteria/residential-lending-criteria.html with 4.75x salary. I guess I will go into town tomorrow and talk to some banks to get an idea.

Thanks!

I would steer clear of HSBC unless going through a broker or until you have really done your research, they are notoriously picky and their customer service sucks.

nudda

Lolly88 wrote: »

Tesco will accept this as will nationwide. The 'easy way' to find this out - is to engage a broker will do this part of the process for you. If you don't wish to engage a broker then you'll have to just search through different lenders criteria.

Do you think its worth approaching tesco or nationwide directly, in my case?

ACG

Based on your other thread and what you have said about DIPs, I would say go with a broker.

Lolly88

nudda wrote: »

Do you think its worth approaching tesco or nationwide directly, in my case?

I think it's worth going to a broker in your case because judging from your posts in this thread and the other one you don't seem to know very much about the process. If the broker you found was not suitable then find another one. You're going to make the biggest purchase of your life so employ the help of a professional to ensure you get the right product. Or knuckle down and do the research to find what best suits your circumstances - this forum can provide general advice but can't guide you directly through which lenders to approach etc.

And I say this as someone who is not a broker nor am I using one in my current purchase and I also had 1 payslip and I'm currently in my probation period with complicated circumstances but I spent absolutely ages researching.

Mortgage_Adviser

nudda wrote: »

So I have just found out the broker I am talking to is not truely whole of marrket which sucks as I want to get the best deal possible.

So what would stop you finding the whole of market. Just bear in mind that it is unlikely there will be brokers who would have acess to absolutely all lenders. Some lenders would still be missing from the panel.
For example I have over 80 lender's in my panel.