Going direct vs via broker

george4064

I currently have a £175k mortgage with NatWest which I originally obtained via a mortgage broker, the mortgage was for my first property and straightforward with a healthy 52% deposit (48% LTV) and stable/consistent earnings. It was on a 5year fix to December 2024.

I'm looking to upsize with my partner, so we will be looking to do the following:

1. Add my partner onto the existing mortgage.
2. Borrow additional money in our names for 3yr fix, total mortgage/capital will mean we approx have 70-75% LTV for our new property.

We intend re-mortgage in December 2024 and roll both mortgages into one.

Questions are:
1. I want to compare what my mortgage broker is quoting for this additional mortgage vs what the bank will offer my directly, can I just simply get in touch with the bank to enquire?

2. Based on people's past experience, do you think I will be able to get better rates going direct vs going through my existing broker for the additional borrowing?

3. Will it save me a considerable amount of hassle/time if I go through the broker than going direct with my existing lender?

4. I feel kind of nervous speaking to NatWest about additional borrowing, worried that I might realise its a huge hassle to deal with them and want to revert back to my mortgage broker. But my mortgage broker might realise I tried to go direct and be annoyed at me. Am I being silly!?

Thanks in advance.

kingstreet

NatWest broker products are typically better than direct. At least the customer retention products are. I'd tip us to beat NatWest Direct to getting an offer out faster. BTW if you are moving, you are taking out a new joint mortgage and porting the rate from the old mortgage to the new one and taking any increased borrowing on a new product.

george4064

kingstreet said:

NatWest broker products are typically better than direct. At least the customer retention products are. I'd tip us to beat NatWest Direct to getting an offer out faster. BTW if you are moving, you are taking out a new joint mortgage and porting the rate from the old mortgage to the new one and taking any increased borrowing on a new product.

Thanks for your response. I feel that the rates my broker is quoting are quite competitive, but hard to tell as I don't know what NatWest would offer directly.

We are moving - yes. Thanks for the additional info.

ACG

Natwest will not offer you anything better direct. We use Natwest more than any other lender I know their process pretty well so can say that with some confidence.