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Same Lender but different interest rates

edited 30 November -1 at 12:00AM in Mortgages & Endowments
5 replies 289 views
jacsll55jacsll55 Forumite
57 posts
10 Posts First Anniversary
edited 30 November -1 at 12:00AM in Mortgages & Endowments
I have had few agreements in principle of few brokers/agents
I see that on 2 of them the lender is the same bank but the agents have given me different interest rates.
Eg broker trussle has offered me 1.89% from platform (Co-op)
broker fluent money has offered me 2.59% from platform (Co-op)

How is that possible? same bank, same borrower but different rates, why?

Replies

  • haras_nosirrahharas_nosirrah Forumite
    2.2K posts
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    what do the fees involved in the mortgage look like?
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • jacsll55jacsll55 Forumite
    57 posts
    10 Posts First Anniversary
    Hi,
    The fees are £1299 for one and £1499 for the other.
  • zx81zx81 Forumite
    31K posts
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
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    It's because they're different products.
  • JMA74JMA74 Forumite
    2.1K posts
    1,000 Posts First Anniversary Name Dropper
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    I want to try replicate it. I cant see a £1299 product on the website

    Residential or BTL?
    Amount owed and property value?
    Term of loan?
    I am a Mortgage Adviser

    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • ACGACG Forumite
    21.1K posts
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
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    One broker may be using the cheapest rate, the other the cheapest product.

    Most people look at rates, but when discussed most people want the cheapest product - in 7-8 years I have only ever had one person want the cheapest repayments regardless of fees and it was a single lady who wanted to keep her expenses to an absolute minimum each month as it was just her.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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