Mortgage with adviser or bank directly?

tony_baduk

Hello all,
We went to see a mortgage adviser on Saturday and were told that Bristol & West was the best mortgage for us.

Is it best to get the mortgage through the adviser or directly from Bristol & West?

Will they offer the same mortgage?

Thanks in advance.

Biggie

some rates are only available to brokers so you may or may not.

if the rates are the same i'd be inclined to use the broker if they don't charge a fee. They can sometime fast track an application.

I went direct with abbey and it was a complete nighmare trying to get though to the right person to get info or change offer amount. It was so fustrating I guess with a broker they will handle all this for you.

tony_baduk

Cheers Biggie.

How do some mortgage adviser's (who don't charge a fee) make money?

carpetbelly

Working for a bank, I can tell you I'd go with a broker imo...
Mainly as they take a lot of the hassle away, trying to get through to someone dealing with your app can be a nightmare where as brokers generally know people and banks want to keep their business sweet to keep getting the referals.

Biggie

tony_baduk wrote: »

Cheers Biggie.

How do some mortgage adviser's (who don't charge a fee) make money?

the bank pays then commision on completion.

It's sometimes specified in the illustration how much they will recieve.

AndrewSmith

It is always shown on section 13 of the personal illustration you receive from the broker.This will be the Gross figure paid by the lender, it does not take into account network charges, expenses etc. It is not usually the amount actually received by the broker him/herself. The amount actually given to the broker is less.