why use a broker???

payless

Included in my client list are some very well paid financial experts ( talking really big bucks here!) ... but they still ask me about their mortgage, as they know thats what I do. Most will have already researched and some even will have bespoke deals on offer by the big banks who have specialists dealing with these Very HNW via employer schemes. Often I'm not telling them anything they don't know already, and I may not regularly get to place the business due to the deals they get offered , but they still ask for my guidance / re-assurance.

That said - Ian, I do generally conduct my own tax affairs, as my experience with the first couple of accountants I approached when self employed put me off. Yes I might not get the full benefit of all the tax breaks, but perfer to know exactly whats happening, and will spend my time researching ( I do have some accounting background) , same goes with DIY, for medical problems again like many I would prefer to do some background research- although I did pass at doing my own vasectomy ;-)....... so I can see why people want to do own research, but its still worth running it past a broker as well

Ian_Griffiths_Halifax

payless wrote: »

I may not regularly get to place the business due to the deals they get offered , but they still ask for my guidance / re-assurance.

That said - Ian, I do generally conduct my own tax affairs, as my experience with the first couple of accountants I approached when self employed put me off. Yes I might not get the full benefit of all the tax breaks, but perfer to know exactly whats happening, and will spend my time researching ( I do have some accounting background) , same goes with DIY, for medical problems again like many I would prefer to do some background research- although I did pass at doing my own vasectomy ;-)....... so I can see why people want to do own research, but its still worth running it past a broker as well

A slight difference there, to a novice with NO experience at all, but as you say, you 'might not get full benefit of all the tax breaks'.

Doing research to see what is available isn't a bad thing at all, but to say that somebody doesn't need a broker is a bit different. I'd always welcome clients to show me what they have found, but not until AFTER I had given my recommendation. Often a client has decided that they want a 3 year Tracker only to be advised by me to take a 5 year Fixed etc, after they have had their situation analysed.

How are you at treating high blood pressure? Can I have an appointment at 9.30pm tonight. I know it's short notice, but the tablets I saw on the internet yesterday that I was going to buy, have been withdrawn and it doesn't look like they are going to be replaced in the forseeable future. Even if they are, they are likely to be at a much higher price due to their demand in the current climate

dunstonh

Not a bad job for £495 commission!

£495 commission isnt a lot. Indeed, it was one of the reasons I stopped doing mortgages as the remuneration didnt really pay enough for the level of work and liability involved.

minimike2

Conrad wrote: »

Davey you do not need a broker unless your situation is more complex.

Check some of the best buy tables then go direct to lender. Do your own independant insurance. Most mortgage brokers will want sell you insurance.

I often wonder how you must make any money, Conrad!!

TighterThanTwoCoatsOfPain

my own personal view is you dont need a broker unless you have a special set of circumstances be it, income level, high LTV etc etc.. or just simply dont have the time..

I used a broker for my first mortgage, and got a cracking deal. Anyone remember A&Ls 3-2-1-0.5 discount deal?? My payments were a huge £90 per month as got in there just before rates started to plummet, and then was on a 3% discount! woohoooo happy days!

Now, i am quite happy to spend literally hours researching deals on t'intraweb or branchs and stuck with one of the FD deals... not a broker in the land could touch it, and was done and dusted in 1 phone call. As i banked with them they did the affordablity on-line so didnt have to provide a single piece of paperwork, just check the pre-pop form and sign. jobs a good un

NeilQuinn

You're lucky then, mate, you're now pretty clued up on mortgages.

I'm not a joiner but I'm fairly handy with DIY so I don't need a joiner to fit my kitchen. I haven't a bloody clue about plumbing though, so I get an expert in.