Adverse Broker fees

Trickey270

Hi There.

Are there any brokers for adverse mortgages on a fee free basis, (work on fee's from lenders)
No missed payments in over two years, no overdraft usage, 5 defaults 4 years ago due to divorce and financial blip...

from what I've looked at my best bet would be Kensington or Precise. Looking to get started ASAP.

Thank-You all

ACG

Trickey270 wrote: »

Hi There.

Are there any brokers for adverse mortgages on a fee free basis, (work on fee's from lenders)
No missed payments in over two years, no overdraft usage, 5 defaults 4 years ago due to divorce and financial blip...

from what I've looked at my best bet would be Kensington or Precise. Looking to get started ASAP.

Thank-You all

There probably are, but you should look at the bigger picture.

Most of the business we place is adverse. That means we not only know the adverse lenders very well, but also the high street lenders which more open to accepting adverse. I use this example a lot as I think it is a good one... We had a client who went to another broker, case was declined, the broker then went to an adverse lender - declined. We then picked up the case and sent it in to the original lender (where it had been declined) and had it offered. Better rates and lower lender fees but they we charged a fee. Overall it evened out, but they are on the high street now, come what may.

If you go to a broker who does not really know the adverse market that well, but does know it a little, you could find they place you with an adverse lender because it fits - the phrase using a sledgehammer to crack a nut comes to mind.

Your case, depending on the finer details may actually be one that could fit on the high street. But some brokers would not even consider that as they automatically assume defaults mean adverse lender as you seem to have done.

I realise that does not answer your question (I do not know any fee free adverse brokers) but I just wanted to give some perspective from the other side.

csgohan4

you get what you pay for, there are some things you shouldn't skimp on

Mortgage_Adviser

OP. What is the size of the mortgage?