re-mortgage to a new company without the faff!

Brodiebobs

Being true MSE'rs we have a fairly complicated banking arrangements to maximise cashback/interest/track spending.. 6 between us which we shuffle money about to meet the various requirements.  We also have a rental property which is self sufficient with its own mortgage and bank account.
Last time we re-mortgaged with a broker 3 years ago it was an absolute nightmare, too'ing and fro'ing querying transactions, transfers, Direct Debits, wages etc even though i'd gone in an explained everything up front and provided 3 months statements, wage slips, and self assessment returns-and we only had 4 accounts at that time! Mere days before it was meant to go through they then decided they needed P60's & copy of the rental agreement.
We were told it would be a simple process but ended up taking almost 4 months!
The mortgage is now almost at the end of our current fix, less than 2x our annual income, under 60% LTV and we both have good credit ratings and no debt apart from a credit card we use and pay off. Our current provider has offered us a 5 year fix at 2.29% which seems a bit on the high side compared to some I've seen advertised, but i'm loathed to repeat the process again. 
I think I already know the answer but is there anyone out there that would take a case like this at face value and not request all the additional faffing about...?

Whats_your_forte

You've probably made it complicated so the rate is your penalty.

However, in saying that, getting 3 months bank statements on all accounts, 3 months pay slips, P60s, copy of rental agreement and tax return is probably a 30 minute job surely (assuming it's all as organised as try and maximise offers etc)

Retired_Mortgage_Adviser

OP, if the underlying case is strong I don't see why the extra paperwork would be an issue. I can't see a broker refusing your business because you have too many accounts or transactions, at least I wouldn't do that!

In cases like these, there is some merit in dealing the same broker as the more he/she trusts you, the easier it is to do the due diligence on the statements and transactions.

Brodiebobs

I think that is a bit harsh.. at the time they were the most competitive, now it seems they're not. So wanting other peoples opinions on whether its worth trying again. 

It wasn't providing the documents that was the issue, as i said i took these in and explained at the outset. I was told it was simple process 4-6 weeks max and they had everything they needed from me, but it didn't work out that way and has put me off doing it again. 

It was the follow up questions and repeating the same information that was the nightmare, they couldn't seem to grasp that the same money went into different accounts and kept asking for the source of money. 

it may have been that i had a strict underwriter, or rubbish broker that didn't understand or pass on the information id given, or it was indeed our affairs that were the issue.

Thrugelmir

Brodiebobs said:

It was the follow up questions and repeating the same information that was the nightmare, they couldn't seem to grasp that the same money went into different accounts and kept asking for the source of money. 

it may have been that i had a strict underwriter, or rubbish broker that didn't understand or pass on the information id given, or it was indeed our affairs that were the issue.

Said in a rhetorical manner. Why should they take your word for it? Not their job to determine that it is the same money circulating. Onus is on the applicant. Time costs money. In the same way that it's too much trouble for you. They would prefer to spend their time on an applicant that doesn't require as much effort. 

Retired_Mortgage_Adviser

Your case might have to partly do with the broker not packinging your case appropriately and/or the underwriter being overly nitpicky. Unfortunately, with a broker's hat on, it's very difficult to predict the kind of underwriting you will encounter or how long it will take. With some lenders, each new query takes you to the back of the queue which radically increases processing time.

Brodiebobs

totally understand they need to know where the money is coming from, but after explaining the 3rd time it gets tiresome!
It seems doing the best for us financially means sacrificing the ease of getting a good mortgage rate.

Whats_your_forte

Brodiebobs said:

I think that is a bit harsh.. at the time they were the most competitive, now it seems they're not. So wanting other peoples opinions on whether its worth trying again. 

Sorry. Wasn't meant to come across as harsh but just trying to say that if you feel you have over complicated your day to day activity, then it is going to give rise to questions. The choice is to either answer the questions or stick with the higher rate.

(Not too sure if I've explained myself any better!!)

And if properly packaged, this case really shouldn't cause too many issues.