Sorry for 2nd post! Advice needed re: best route to apply for remortgage

InAPickle76

Apologies for a second post - but on further thinking, are we best going through a broker when we apply to remortgage, or researching ourselves and applying directly to a lender? Many thanks x

Caz3121

you had 3 prior posts before today - on each one it was suggested to use a broker

InAPickle76

Caz3121 said:

you had 3 prior posts before today - on each one it was suggested to use a broker

Just looking for further advice - please don't be so blunt. I am aware that the majority of brokers charge a fee so wanted to check this was the best route, as if applying directly to a lender is an appropriate option then I can save on broker fees.

FashionHeart

InAPickle76 said:

Caz3121 said:

you had 3 prior posts before today - on each one it was suggested to use a broker

Just looking for further advice - please don't be so blunt. I am aware that the majority of brokers charge a fee so wanted to check this was the best route, as if applying directly to a lender is an appropriate option then I can save on broker fees.

Brokers charge a fee because they have a wide range of deals that are accessible to them.
If you apply and remortgage directly with the lender, those are the rates you would get regardless if you are an existing customer or not. 

dunstonh

Just looking for further advice - please don't be so blunt

So, in other words, you want a 4th thread telling the same as the previous three.

 I am aware that the majority of brokers charge a fee so wanted to check this was the best route, as if applying directly to a lender is an appropriate option then I can save on broker fees.

Going direct to lender will avoid the broker fee.   However, would you go to the same lender as the broker would recommend or buy the same deal?
Brokers give you a lot of handholding through the process that you don't get direct (or using national online brokers) - do you want that?
Brokers will filter out the problem lenders - can you identify the problem lenders - i.e. who is being really slow or has service issues
Brokers are strongest when your lending position is not clean or it is complicated.  Will your case slide through a lender smoothly or could there be potential blockers or issues? - your previous posts indicate you had a DMP.

And when we refer to brokers here, we are talking about your small firms, usually local to you.   Not the online brokers who use unqualified and usually inexperienced staff to send cases through (noting one of your four other threads).  Online brokers have a poor reputation at dealing with cases that may have issues.   They are best for simple cases.

dimbo61

There are some lenders where you have to go direct.
Yorkshire Building Society is one.
However if anything is not straightforward!
Self employed, several income streams, complex credit history or age then a broker can be well worth the fees.
Would you look for a used motor on Autotrader or drive round the country visiting garages ?
Rightmove or ringing every estate agents ?

kingstreet

You are going to remortgage.

"Free legals" or cashback to pay a solicitor of your choice?

It's not always about a 0.1% rate difference.

Bluebell1000

We paid our broker once but they do all subsequent applications for free (others may not, of course). They also have access to a wider range of fee free deals, which we've found very useful!