Mortgage Advice Please

JTW73

Hi, after a bit of advice, I'll try to keep it short.
Had an offer accepted on a house, used LandC to find a deal, found one with Accord, they put the application in. DIP and credit check through. I chased an update, I've been told by the 'Case Manager' that there is a lender update which will require the case to be 'remodelled'. I am assuming this is because Accord have increased the rate on the product we applied for today. But I don't know that because he said he couldn't discuss it with me, that would have to be the Advisor who is currently on leave. So I'm none the wiser.
In the meantime I've done an AIP off my own back with YBS (parent co. of Accord) which has come back and said we could borrow 25k or so in excess of what we actually need. Their rates are slightly better than Accords.
The advice I'm after therefore is do I wait and give LandC the benefit of the doubt and drag things on longer, or do I ask them to pull the Accord application and go for YBS off my own back?

Any thoughts much appreciated.

cii4ps

I'm no MA, just sharing my thoughts since you asked. Looking at this forum I'm seen some people here get better and quicker offers by going direct. Especially with your advisor going on leave and the period we're in (I've seen interests increase trice in the period I've applied in), it may just be a much better option to cut your losses and go at it alone. I've seen LandC get trashed in Trust pilot ratings over the past 3 months, the only 5 star ratings seem to be from landc invited reviewers.

JTW73

cii4ps said:

I'm no MA, just sharing my thoughts since you asked. Looking at this forum I'm seen some people here get better and quicker offers by going direct. Especially with your advisor going on leave and the period we're in (I've seen interests increase trice in the period I've applied in), it may just be a much better option to cut your losses and go at it alone. I've seen LandC get trashed in Trust pilot ratings over the past 3 months, the only 5 star ratings seem to be from landc invited reviewers.

Thank you for the response. Much appreciated.
I wondered if there is any harm in submitting an application to YBS now before the Accord one is withdrawn?

cii4ps

JTW73 said:

cii4ps said:

I'm no MA, just sharing my thoughts since you asked. Looking at this forum I'm seen some people here get better and quicker offers by going direct. Especially with your advisor going on leave and the period we're in (I've seen interests increase trice in the period I've applied in), it may just be a much better option to cut your losses and go at it alone. I've seen LandC get trashed in Trust pilot ratings over the past 3 months, the only 5 star ratings seem to be from landc invited reviewers.

Thank you for the response. Much appreciated.
I wondered if there is any harm in submitting an application to YBS now before the Accord one is withdrawn?

I've read reviews on TrustPilot of people just calling them to say their services are no longer needed and switching to other brokers or going direct. I think that's the best place to start.

Personally I wouldn't care, I know landc doesn't take money for any of its advise, that leaves lender fee and solicitor fees. I'd take the solicitor with me (if i already paid), and in my case the lender fee is part of the mortgage, so I simply wouldn't pay it anymore. But that's just my risk tolerance as well.

I think one thing worth noting is that if you apply direct it'd be significantly quicker if you don't take their advisor (just go with the product you want), but that assumes you know exactly what product you want. If you take their advisor you'll probably end up in some queue for that advise.

amnblog

No, you should not have two applications running at the same time, and certainly not with the same Lending group. it only takes the data inputted on the two to slightly differ and you could find yourself with a fraud risk tag on your name.
Accord raised their 85% loan to value rates this week and that may be the reason for the 'remodelling' (nice term).
As a minimum, you should have L&C close down any application their end before you start another elsewhere.
Finally, comments above that you will get better and quicker rates by going direct are just not correct.

csgohan4

cii4ps said:

I'm no MA, just sharing my thoughts since you asked. Looking at this forum I'm seen some people here get better and quicker offers by going direct. Especially with your advisor going on leave and the period we're in (I've seen interests increase trice in the period I've applied in), it may just be a much better option to cut your losses and go at it alone. I've seen LandC get trashed in Trust pilot ratings over the past 3 months, the only 5 star ratings seem to be from landc invited reviewers.

incorrect, I've found the opposite

do you think the best buy tables are updated? where do you start to get the best deals? some are broker only

OP needs  a better broker, one that is not conveyor bet and focused on volume than quality

cii4ps

@csgohan4 you can do a comparison on both trussle and landc, showing you the cheapest rates across all their associated lenders. For me that resulted in exactly the same lender my broker advised. I could have also applied directly. Obviously I'm assuming you have a straight forward mortgage application. If you have an unusual setup/situation, I'd say approach a broker.

JTW73

Thank you all for your comments and advice, much appreciated. As it is we gave LandC the benefit of the doubt and we're hopeful that things are now progressing.