Haysto

No19v87

PM22 said:

Did you manage to secure a mortgage with Haysto? What sort of adverse credit did you have if you don't mind me asking?

Multiple defaults over 2+ years old.

Yes, we did. The first application they made was accepted.

PM22

that's really good to hear as I too have multiple defaults over 2 years old....I hope to hear by Friday...

amnblog

No19v87 said:

More expensive than your average broker but we found it to be value for money with all of the support, advice etc. provided. 

A novel attitude on this Forum

PM22

Yes, I paid £99 for the agreement in principle and I will have to pay £1400 if the mortgage is approved....

PM22

Well I have finally had the mortgage approved today. 128k at 6.14 percent for 26 years. I'm so relieved I can't tell you.

It took a while but I will gladly pay my £1400 fee tomorrow. I mean, I've get 8 defaults!!!

ACG

It probably doesnt happen often, but if your application is declined would you lose the £99? 

Its not a dig at them btw, we reviewed our fees this time last year and one of the things we considered (but opted against) was to charge fees earlier in the process. 

Would you have had any issues if the application was declined? 

PM22

No, I would have gladly paid the £99!

ACG

PM22 said:

No, I would have gladly paid the £99!

Interesting. 
Thanks. 

No19v87

ACG said:

It probably doesnt happen often, but if your application is declined would you lose the £99? 

Its not a dig at them btw, we reviewed our fees this time last year and one of the things we considered (but opted against) was to charge fees earlier in the process. 

Would you have had any issues if the application was declined? 

From memory with our agreement the £99 was refundable if they couldn’t secure a mortgage offer.

They had access to credit reports etc. before that was paid so assuming their confidence they could get a mortgage was based on that and it is relatively low risk for them.

ACG

No19v87 said:

ACG said:

It probably doesnt happen often, but if your application is declined would you lose the £99? 

Its not a dig at them btw, we reviewed our fees this time last year and one of the things we considered (but opted against) was to charge fees earlier in the process. 

Would you have had any issues if the application was declined? 

From memory with our agreement the £99 was refundable if they couldn’t secure a mortgage offer.

They had access to credit reports etc. before that was paid so assuming their confidence they could get a mortgage was based on that and it is relatively low risk for them.

Which makes me wonder why bother charging the £99 or why not just add it to the bigger fee?
Not that it matters, thats the great thing about our industry there are lots of choices. If it works for the company and the client, thats all that matters.