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Remortgaging- Negotiating with a mortgage provider
Deedoodee
Posts: 200 Forumite
Has anyone managed this? How did you do it and what did you get?
TIA
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Comments
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Negotiating? Mortgage products are based on money market swap rates and are very carefully costed. If you win on the no-fee, cashback on completion swings, you won't win on the lower rate roundabouts. You'd be amazed at the eventual closeness in the total costs of different products with different 'benefits'.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.1
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Worth also noting that the majority of mortgage products are regulated.
A Lender would have a difficult time with the Regulator justifying a special deal for 'Deedoodee' who is now paying less than Mr Smith who had the same start point.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
My mates job is to price up products. Thats his sole job, there isnt room for negotiation.
I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.1 -
Mortgage products are sold at the macro level in tranches of millions of pounds. As part pf an overall risk management strategy. Like shopping in Tesco's. It's a question of whether you want to buy or not. As somebody else will eventually. Your custom in the bigger scheme of things is neither here nor there.
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What aspect are you trying to 'negotiate'?0
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