Mortgage Brokers - L&C - good experience?

BigZed_2

Don't have a mortgage currently, and looking to raise some capital for home improvements (£50K on £300k house.)

Spied the Lloyds TSB Intermediary Tracker thru' London and Country's website at around £50 cheaper a month than other freely available mortgages. Question is, is there a way of checking how "good" these brokers are? I've never used a broker before, and whilst they look bona fide, I'm wary of having more links in the chain than I really have to.

Anyone have any experiences of dealing with L&C?

dunstonh

There are a lot of threads over the years about L&C. They seem to be a mixed bag. Most of those that report bad experiences are not because L&C have done much wrong but because their expectation of direct/internet based broker was different to what they got. Its a different type of service that is better suited to perhaps those that know what they want and what the process is. It isnt really suited to the individual who needs the support and hand holding that a local broker can give.

A broker is not an extra link in the chain. They replace the one of the links by taking on the role of the mortgage clerk of the bank or building society if you went direct. Instead of having maybe around a dozen mortgages if you go direct, a whole of market broker will have around 20,000 mortgages available. Including many which you cannot get if you did go direct.

TheGreatBear

In my opinion you need to get the right advisor at this company. The majority are very knowledgable and have a number years of experince and i dont agree with the common accusation that they dont provide the same level of service as the local 'face to face' broker. The key element in mortgage sales is knowing what the client wants and delievering this product in a clear and concise fashion and to my knowledge they have always succeeded in doing this. Unfortunately they can be let down occasionaly by the odd inexperinced broker but that can happen in any company. And yes, before you ask i did used to work for them, not that it should make any difference... Your in safe hands if you deceide to use them. Just my honest opinion

TheGreatBear

In my opinion you need to get the right advisor at this company. The majority are very knowledgable and have a number years of experince and i dont agree with the common accusation that they dont provide the same level of service as the local 'face to face' broker. The key element in mortgage sales is knowing what the client wants and delievering this product in a clear and concise fashion and to my knowledge they have always succeeded in doing this. Unfortunately they can be let down occasionaly by the odd inexperinced broker but that can happen in any company. And yes, before you ask i did used to work for them, not that it should make any difference... Your in safe hands if you deceide to use them. Just my honest opinion :rotfl: