Are all brokers even?

BoBoDobie

Would a broker get a better deal than what the Halifax are offering me when my current deal ends? One broker has contacted me but they couldn’t offer anything different to what I got direct myself. They still wanted me to go via them (which seemed pointless to have to submit my financial and legal documents again when I could do it myself in one click).

Is it worth trying another broker or are they all subject to the same offers?

ACG

Occasionally brokers get exclusives. But they come and go so you could find you spend a lot of time trying to find a broker to save a fiver a month and you may not even find one. 

amnblog

I am afraid your Broker is incorrect. Brokers have access to a wider range of product for the Halifax borrower than is available direct yourself.

This is particularly relevant if your borrowing is over £150,000.

Speak to another Broker, and, if you have a sizeable mortgage, on no account go direct until you have done so.

housebuyer143

amnblog said:

I am afraid your Broker is incorrect. Brokers have access to a wider range of product for the Halifax borrower than is available direct yourself.

This is particularly relevant if your borrowing is over £150,000.

Speak to another Broker, and, if you have a sizeable mortgage, on no account go direct until you have done so.

It sounds like the OP is already with Halifax, so only the product transfer rates are available and I don't imagine there are broker exclusives for those 

amnblog

We do numerous Halifax product switches, and you can take my comment as read.

ACG

I read it as though the broker was getting the same deals as the customer. Rather than them just saying it would be the same.

I dont use halifax massively though so amn will know more than I do. 

amnblog

I am working on one this week where, if the borrower were to apply direct, it would cost him £7,500 more than the option we are working on for him. Same Lender, same situation, different distribution routes.

BoBoDobie

ACG said:

I read it as though the broker was getting the same deals as the customer. Rather than them just saying it would be the same.

I dont use halifax massively though so amn will know more than I do. 

Yes correct, I’m with the Halifax already, not in a rush to leave the Halifax but the broker couldn’t beat the deals I had on the app. 

Not borrowing quite as much as 150k, looking at around £106,000

amnblog

At that level of borrowing, you may as well use the App as the products offered there will match suitable products from the Brokers offering.

The Broker will have access to other lower rate, fee charged, products that are suitable for higher lending levels, these will not be suitable for use in your case.

MyRealNameToo

BoBoDobie said:

Would a broker get a better deal than what the Halifax are offering me when my current deal ends? One broker has contacted me but they couldn’t offer anything different to what I got direct myself. They still wanted me to go via them (which seemed pointless to have to submit my financial and legal documents again when I could do it myself in one click).

Is it worth trying another broker or are they all subject to the same offers?

I know with Natwest a broker's rate once was 2bps less than what Natwest was offering me directly but he was surprised and had expected them to be the same. 

Where the broker was more useful was the following renewal where he contacted me and said he'd had notification that the NatWest rates were going to go up tomorrow and therefore I should consider locking in today. Thinking it may just be a fake claim did contact another broker who kindly confirmed it was true