moneysupermarket.com

nicolatachipolata

I have been given a remortgage quote with the Coventry Building Society from moneysupermarket.com which is a very good deal. Has anyone used moneysupermarket.com to sort out their mortgage before? Are they ok?

I've been told I will be charged £495 on completion if I go with this deal thru them but what is stopping me going direct to Coventry BS and sorting it out with them?? They have the same deal on their website and I would save £495. Am i missing something or does that sound okay - taking their advice and then doing it myself to avoid costs??

Please advise. It's scary sorting our remortgages!

payless

Its a comparaison site, so free to use

What moneysupermarket.com can do for you

Have a qualified advisor call you
Speak with one of our qualified and trusted third parties.
Request moneysupermarket.com to call you
Qualified advice from our financial team at moneysupermarket.com. We will arrange everything from the start right through to completion. Our fee for this will be £195 on completion of the mortgage.


My guess is if you have been quoted £495, then you requested a call and it was passed on (sold) to a broker.

There's many threads about benefits / disadvantages of paying a broker fee ... but note this site (MSE) general rule is not to pay a fee. ( we are assuming they are also taking commssion) . there are loads of brokers who will do this without a fee, (whilst comparing other deals also) aor you could go direct as you suggest if you feel more comfortable

herbiesjp

Did you get a call from someone after registering details on moneysupermaket.com? You will find that your details have been sold on to a broker and they are getting in contact as a result.

If you go direct you have no protection, if you go via a broker you fully fully indemnified advice, so if something goes wrong you can complain and get things put right.

Having said that, there are plenty of brokers that do not charge a fee for their advice and are happy to get the commission paid directly from the lender.

So you might want to still go via a broker, but one that does not charge a fee - make sure they are whole of market advisers though

nicolatachipolata

Thankyou both for your advice. Yes I registered my details and assumed it was an advisor from moneysupermarket.com that called me back. I did think I had seen the £195 fee somewhere to be honest, which is much better. i am not happy about paying the £450 really because I thought I was getting the advice a lot cheaper.

If I have found a good deal already can I still go to a broker who doesn't charge for them to check it out or is that wasting their time? I have a meeting with my current lender tomorrow so I am going to show them the deal I have been quoted and see what they say.

Thanks for explaining - much appreciated.

Dan_Collins_2

Moneysupermarket dont charge the fee, it may be a lender fee, unless a broker has called you. Can you or are you able to give more info?

herbiesjp

nicolatachipolata wrote: »

Thankyou both for your advice. Yes I registered my details and assumed it was an advisor from moneysupermarket.com that called me back. I did think I had seen the £195 fee somewhere to be honest, which is much better. i am not happy about paying the £450 really because I thought I was getting the advice a lot cheaper.

If I have found a good deal already can I still go to a broker who doesn't charge for them to check it out or is that wasting their time? I have a meeting with my current lender tomorrow so I am going to show them the deal I have been quoted and see what they say.

Thanks for explaining - much appreciated.

Checking with your current lender would always be your first port of call

Then you can compare against what else is on the market.

If you find a fee free whole of market adviser, they will not charge a fee and you will get recommended the best product to suit your needs

payless

Dan_Collins wrote: »

Moneysupermarket dont charge the fee, it may be a lender fee, unless a broker has called you. Can you or are you able to give more info?

according to website - They do have a £195 in house adviser fee option

payless

I think Martin has previously pointed out that the website in question is a good starting point for car and home insurance... but not so good for mortgages/ life

Dan_Collins_2

payless wrote: »

according to website - They do have a £195 in house adviser fee option

OK, but thats still not £495. However the site is not as good as made out by the media.

payless

exactly the site says £195 for in house option... but does not say how much a broker will charge if he's purchased the lead

Dan_Collins_2

Nice one, got the link in twice, your very good!

Supermarket.com does not control the fees brokers charge. We tried them and they recon you get a better conversion rate if you dont charge!

We gave them a few months and gave up on lead buying!