We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Mortgage Broker Value Add?
Hello,
I intend to move to a lifetime tracker mortgage with my existing lender, Santander. This was the plan before and after our chat with previous mortgage broker who we got a 2 year fixed with (1.5years ago).
I can do this myself online and as far as I can see, the broker is adding no value, but their persistence in getting us to finalise suggests they must be getting some sort of kickback! But I don't see that it is to my detriment.
Should I go with the broker on premise that perhaps if things go bad in future they are there to support, or just go direct with bank and cut them out? Just after some pros and cons of both scenarios really.
Thanks!
I intend to move to a lifetime tracker mortgage with my existing lender, Santander. This was the plan before and after our chat with previous mortgage broker who we got a 2 year fixed with (1.5years ago).
I can do this myself online and as far as I can see, the broker is adding no value, but their persistence in getting us to finalise suggests they must be getting some sort of kickback! But I don't see that it is to my detriment.
Should I go with the broker on premise that perhaps if things go bad in future they are there to support, or just go direct with bank and cut them out? Just after some pros and cons of both scenarios really.
Thanks!
0
Comments
-
if the brokers fee is reasonable then let somebody else do the work - if they switch the lender then may save a lot of form filing for you as they may well have a pre populated document that they can complete for you. friend of mine moved lenders and all he needed to do was provided up to date payslips and bank statements0
Categories
- All Categories
- 347K Banking & Borrowing
- 251.5K Reduce Debt & Boost Income
- 451.7K Spending & Discounts
- 239.3K Work, Benefits & Business
- 615K Mortgages, Homes & Bills
- 175K Life & Family
- 252.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards