Do I Need to See and Independent Advisor?

Adamc

amnblog wrote: »

Be careful here Adam.

Your posts suggest you will not get the best result if you assume you are better managing this yourself.

Engage a Broker.

I intend to but I just need to know what to look for in a broker and ensure I take account of direct only deals.

For instance will my broker looking into the likes of Co-Op Bank, Yorkshire Building Society, First Direct, etc.

I really cannot claim to know very much at all - hence why I humbly seek advice on the forum.

dunstonh

For instance will my broker looking into the likes of Co-Op Bank, Yorkshire Building Society, First Direct, etc.

Some lenders will not deal with brokers and do not make their product available to brokers.
Some lenders will have broker only products that you cant get in their branches or direct.
Some brokers will have deals unique to their club membership but these may be different to other unique deals that other brokers will have.

If you keep worrying about all the different variations, you will never end up with a mortgage as you will be spending the rest of your life finding the right distribution.

The broker will likely be less cost concerned than you are. Certainly, the cost comes into play. However, so does your lending requirements or situation. Are you pushing lending limits? Do you want a quicker underwriter? The slightly cheaper one may have a poor quality service or wants documentary evidence of everything about you. The broker will look at what you want and need and go from there. They may say that provider A is cheapest but their admin is dire and you are looking at taking an extra 2-3 weeks to get your case through compared to provider B who is £1.50 a month more expensive.

Effectively you are using a broker for their knowledge, hand holding and processing it all for you.

ACG

Adamc wrote: »

For instance will my broker looking into the likes of Co-Op Bank, Yorkshire Building Society, First Direct, etc.

You stand a better chance of getting a co-op mortgage through a broker. They have closed to new business now. They do accept business through Platform, but that is intermediary only.