Partner refuses to use broker

ACG

Ibrahim5 said:

Owleyes00 said:

ours has sorted out all the insurance for us as well.

I fell for that one too. You have to have home insurance as part of the mortgage deal. Is it OK if I sort it out for you? I paid for one year and the next year I got it for less than a third of the price.

Brokers will never be cheaper than the price comparison sites for buildings & contents insurance. We can sometimes get close or if you have expensive items we can probably start to compete. Its not falling for anything unless they told you they would be cheaper/the same price. 

However you will probably find our policies are better, but whether or not you need that is another matter - I get my policy of the price comparison sites.

For protection, I think we probably are the better option. Price wise we should be about the same (unless your broker has loaded premiums) but you also get the advice and the protection that comes with it. 

ACG

Ibrahim5 said:

I used an IFA when I needed a larger loan than we were generally being offered. They are used to being dishonest so they knew what to say to get the loan I needed.

I have never knowingly lied on an application. You cant just inflate your income anymore, there are a LOT of checks in place, including tie ins to HMRC where they can verify your income automatically to the penny. 

Owleyes00

ACG said:

Ibrahim5 said:

Owleyes00 said:

ours has sorted out all the insurance for us as well.

I fell for that one too. You have to have home insurance as part of the mortgage deal. Is it OK if I sort it out for you? I paid for one year and the next year I got it for less than a third of the price.

Brokers will never be cheaper than the price comparison sites for buildings & contents insurance. We can sometimes get close or if you have expensive items we can probably start to compete. Its not falling for anything unless they told you they would be cheaper/the same price. 

However you will probably find our policies are better, but whether or not you need that is another matter - I get my policy of the price comparison sites.

For protection, I think we probably are the better option. Price wise we should be about the same (unless your broker has loaded premiums) but you also get the advice and the protection that comes with it. 

Yeah I mean you’re probably right but again it’s a question of whether not having to do any of it yourself is worth the extra money. For us it was 🤷🏼‍♀️

ACG

Owleyes00 said:

ACG said:

Ibrahim5 said:

Owleyes00 said:

ours has sorted out all the insurance for us as well.

I fell for that one too. You have to have home insurance as part of the mortgage deal. Is it OK if I sort it out for you? I paid for one year and the next year I got it for less than a third of the price.

Brokers will never be cheaper than the price comparison sites for buildings & contents insurance. We can sometimes get close or if you have expensive items we can probably start to compete. Its not falling for anything unless they told you they would be cheaper/the same price. 

However you will probably find our policies are better, but whether or not you need that is another matter - I get my policy of the price comparison sites.

For protection, I think we probably are the better option. Price wise we should be about the same (unless your broker has loaded premiums) but you also get the advice and the protection that comes with it. 

Yeah I mean you’re probably right but again it’s a question of whether not having to do any of it yourself is worth the extra money. For us it was 🤷🏼‍♀️

Definitely. 
Its like anything I suppose. Our shopping gets delivered, I pay for that every week because it saves me having to go. Our next door neighbour gets someone to cut their grass because they are lazy... too busy. 

fewcloudy

lushshez14 said:

Hi everyone, 
Just wanted an opinion on an ongoing argument me and my partner are having. 
We are first time buyers with a 10% deposit saved.
I'm employed and he's self employed but receives is pay through CIS for two years and wants to go on this amount to get a mortgage (think you have to show 13 weeks of payslips)

He completely refuses to see a mortgage broker. We have a friend that's an advisor who has told him a few banks that accept the CIS and he thinks now its a waste of money using a broker as we should apply directly through them. I just think its safer to get someone who knows the lender most likely to accept us, I would hate for us to be declined and have a hard search on our credit file for nothing. His credit file is totally clear, mine has been for 3 years but I do have quite a few missed payments through 2017 - early 2018 and I took out a few payday loans 3 years ago (all paid) I'm all new to this so I'm sure their are other benefits to a broker and would be worth the money? Or is he right?

I would recommend that you use a broker.
I always have, from when I was a FTB, up to my current house as a 5th time buyer.
Never regretted it, quite the reverse in fact.

Read many, many, posts on here that are full of stress and anxiety, and could have been avoided by using a broker in many cases IMO.

There is more to it than just which lender accepts the CIS or not.  Many of the anguished posts on here are from people finding out too late that they are on the wrong type of mortgage, or were quite naive as FTBs and didn't understand one thing or another.

I would be interested in how you resolve this, as it is quite an important issue to have the polar opposite opinion of your partner on. What will you do if he continues to refuse?

lushshez14

Hi everyone thank you for all your advice and perspective on using a broker. They was very helpful in arming me with a good argument 😉 I probably should of mentioned that partner is a tradesman now but 3 years previous he was a bank manager for many years and although not a mortgage advisor or broker he felt working with them and knowing some of the procedures he felt he could do it himself. My argument was that we have gone through pandemic, things change and it wasn't he's job role, but we have come to an agreement to use one in the end,so I am very happy and much less stressed.
Now just the stress of finding a 3 bedroom house not completely run down in our area and price range that isn't snapped up the day its posted.. That is the real stress 😑😅
Thanks all again 

Edi81

The world has changed a lot in the last 3 years. Is he not aware of the pandemic?