remortgaging - DIY or advisor?

wacky75

I always used a broker - didn't realise how much paper work / time this saved us until i did it DIY last time.
Dealing with the solicitors can be a laborious exercise.
That said, I'm about to visit a bank this lunchtime to arrange my next remortgage so hoping it goes smoother this time !

dunstonh

Most banks that dealt with brokers on the initial mortgage will allow you to use the broker again on rate switch deals. So, if you like the broker, you don't need to go to the bank again. The broker can then compare rate switch deals with rest of market.

DragonQ

For my first mortgage I did it myself since the brokers couldn't beat the deal I found online. This time around, a broker has a better deal so I'm using them (unless I find a better one between now and when my current fix runs out).

djpix99

I have now tried tried diy, mortgage broker and online mortgage broker. I personally found using the online mortgage broker Habito my preferred option. I believe there are other competitors such as Trussle and L&C who offer a similar service. When I got my first mortgage I used a well known comparison site, which seemed great at the time. However now I've realised that they rarely take into account the mortgage fee's/cashback offers when working out the best product, where as mortgage brokers systems do.

spaceboy

ok another question - how do you chose a broker?

djpix99

Recommendations from friends or family are usually the best option.

smudge2013

I think it depends on the circumstances. A broker is good for situations where the borrower does not feel confident navigating re-mortgaging on their own, or if their situation has some unusual circumstances.

However for most people, re-mortgaging is pretty straight forward and most banks make the process ever so easy. I would have a look at what your bank is offering you, have a look around at other bank's offers and then look who is giving you the best overall deal.

I recently re-mortgaged with my bank online which was really simple.

DragonQ

spaceboy wrote: »

ok another question - how do you chose a broker?

MSE recommend a couple, plus your estate agent will probably recommend one when buying a property.

[Deleted User]

spaceboy wrote: »

ok another question - how do you chose a broker?

Depends.