New homes mortgages group

Bobthebuildercanyoufixit

Hi all,

i am currently using new homes mortgages to take care of finding me a lender for a new build.

i would like to know if anyone has ever used this company and if the brokers are good and reliable?

they seem to have a different process than for instance your 'usual' brokers. We had an 'advisor first take details, then an appointment with a 'senior mortgage broker' who then allocated us an 'administrator to ask any wuestions to- this administrator will be the one who chases the application that was submitted by the senior broker and would also answer any of our queries. Anyway structure seems bizarre.

Any help or insight would be appreciated. 

Thanks,
bob

eddddy

Bobthebuildercanyoufixit said:

Anyway structure seems bizarre.

It sounds like it could be a way of keeping employment costs down.

• Qualified mortgage brokers/advisors will be paid a higher salary
• Unqualified admin people will be paid a lower salary

- So the first person you spoke to who took all your details might have been an unqualified admin person

- The 'Senior Mortgage Broker' probably gave you financial advice - so needed to be qualified (and paid more per hour)

- The person who chases the application might again be an unqualified admin person.


I guess it might be better to use a firm where you're dealing with one qualified person from end-to-end. They'd be less scope for mis-communication between people, and you'd have access to a more knowledgeable person at all stages, to ask questions etc.


If you're talking about the "The New Homes Group", they seem to be part of the Connells group, who own lots of estate agent brands. Maybe a Connells estate agent referred you.

kingstreet

There are two "New Homes" firms. The one owned by Connells/Skipton and the other, New Homes Mortgage Services, is based in Cannock.

krusty101

We used them to buy a new build from Bellway. It was as you say, we spoke to a person initially, then a broker got us the deal (my partner is self employed so we only had a few lenders who would touch us) and someone else kept in touch with us. Worked ok from our point of view. 

Bobthebuildercanyoufixit

Thanks all for the replies

i just hope they are good at what they do... 
yes they are the 'New homes group' and we also were reffered to them by Bellway.

I know some brokers communicate back and forth with the lender they submit the application to, and as they are a mortgage broker and not just an admin staff they have the knowledge to do so. 

Im concerned the admin person now communicating with the lender may not have the right or enough expert knowledge to communicate as well.

I hope i am wrong and all goes well

thank you all again.
bob

monkeymarbles

Bobthebuildercanyoufixit said:

Hi all,

i am currently using new homes mortgages to take care of finding me a lender for a new build.

i would like to know if anyone has ever used this company and if the brokers are good and reliable?

they seem to have a different process than for instance your 'usual' brokers. We had an 'advisor first take details, then an appointment with a 'senior mortgage broker' who then allocated us an 'administrator to ask any wuestions to- this administrator will be the one who chases the application that was submitted by the senior broker and would also answer any of our queries. Anyway structure seems bizarre.

Any help or insight would be appreciated. 

Thanks,
bob

Hi - we used them (as used Help 2 Buy) and they were pretty good. I had to chase them a few times for updates but that turned out to be my impatience and fact our completion was delayed by COVID, and then we changed mortgage providers as went past the 6mth offer period as a result. Overall decent service.

tinytiddles

It probably works similarly to L&C’s arrangements where they have the broker placing the deal with a lender and then it is handed over to a case handler for all of the paperwork shuffling. It all worked fine for us and actually I found it to be a really efficient experience.