can anyone recommend a broker

smnb08

ok so this sounds like the best option then.
so is there someone you would reccommend??

MortgageMamma

well, most brokers will work over the phone you just have to ask them. you don't have to go to a specific "company" to get that sort of advice. In fact, it is often the smaller local brokers who look after you better. As a starting point get into the yellow pages or similar and speak to a couple on the phone, see who you find most helpful.

It is traditional MSE etiquete to say make sure they don't charge fee's (a lot will work for just commission) and ensure they have access to the whole of market, but unfortunately a broker can call themselves whole of market with as few as 6 lenders to choose from. what you REALLY NEED is a broker who has access to all mortgage lenders products in the UK, without restriction. Also you need to be aware that some lenders don't accept broker business or do but don't pay commission. Many brokers (me included) don't always include these in their research as they don't get paid for them. the lenders in question are:

Egg, First Direct, Direct Line, Yorkshire Building Society, HSBC, Britannia Building Society. You can find deals from these lenders on their website directly but can do a comparison on www.moneyfacts.co.uk

However, do remember the benefits of professional indemnified advice can far outweigh an extra few quid savings over the space of a couple of years.

Good Luck

MM

Tiddler_2

Virtually all brokers will deal with mortgages for people with poor credit, but unfortunately mortgage brokers are not allowed to tout for business on this forum, and the mortgage advisers/brokers that post on here cannot recommend another broker to you either (other than the ones suggested by the site i.e Charcols or L&C)

You may not necessarily need a "bad credit" mortgage - do you have a copy of your credit file? If not it may be worth registering with www.creditexpert.co.uk to get a free copy, so you can see exactly what is registered(you will need to cancel your registration within 30 days though or you may incur a monthly charge).

If you give some idea of your incomes, ongoing credit commitments, and size of mortgage required some may be able to give you an idea if it's likely to be a "goer"

MortgageMamma

Doubt charcoals will be around much longer and they are not truly whole of market. MASSIVE losses.

If the OP really has to use one of these sheep dip mortgage operations L&C would be the better option.

smnb08

i did go online and get a credit report it seemed to go on for ever and ever only took notice of the score(780)as i thought this would be most usefull although i see now its not really the actual score anyway went back to the site(credit expert)to get a better look to find that i would have to pay £5.95 to look at it again so didnt bother!!

MortgageMamma

be careful about credit checks, too many credit checks in a short space of time will absolutely knacker your credit rating.

smnb08

do L&C deal with bad credit and higher income multiples??

smnb08

Yes i know thats why i havent looked again just wish i would of printed it!!

MortgageMamma

yeah L&C will deal with all types of mortgage transactions. I'm not a big fan of them to be honest and I think they are overated. it seems pot luck as to whether you will get decent service, they are rather inconsistent. Don't assume just because they are endorsed by this site that they are anything better than you could get locally.

smnb08

thanks for your replies i will take on board what you have said and sleep on it!!