Recommendation of a Fee-free Brooker

tangomonkey

Me and my wife are coming to the end of our first time buyer mortgage in September with Northern Rock. As expected the the premiums have increased massively!

I think we need to borrow approx 90-85% of our house value but because we are not 'big' earners (by that I mean under the national average) and the leading market being very unstable I was hope somebody could recommed anybody to try and get the best deal in the market who is fee-free.

Even if somebody can give me some pointers on this forum that would be much appreciated :cheesy:

Many thanks

Tiddler_2

Hi TM,

There is fee-free brokers suggested in Martin's remortgage guide, this being London & Country.

If you want some pointers from the advisers that post then we will need a bit more info.

Loan Amount,
Value of Property,
Salaries,
Any other Credit Commitments
Fixed or Variable Rate

Some lenders are offering better deals for going direct, rather than via brokers

silvercar

If you want to find a broker who you can deal with face to face, we need to know what area you live in.

booroo

Tangomonkey, my partner and I are currently using L&C and they are fantastic. We've had quite an ordeal so far and our agent (Gurinder - if you do go with them ask for him and tell him Bhurut and Anna sent you) has been doing everything far and above the call of duty that he can.

With regards to lenders giving better deals if you go direct, I didn't find this to be the case. We tried all the biggest lenders and found that L&C actually had deals that weren't available direct. I actually went to the lender direct to check that this deal was legit and they confirmed that it was and that it was exclusive to L&C. Strange but true!

Either way, you've got nothing to lose in asking for quotes from them. Good luck.

HelpWhereIcan

booroo wrote: »

With regards to lenders giving better deals if you go direct, I didn't find this to be the case. We tried all the biggest lenders and found that L&C actually had deals that weren't available direct. I actually went to the lender direct to check that this deal was legit and they confirmed that it was and that it was exclusive to L&C. Strange but true!

Either way, you've got nothing to lose in asking for quotes from them. Good luck.

True at one time. Not at the moment.

Many lenders are now offering deals through their branches that aren't available through brokers. There are whole threads on this recently. Most of these deals are market leaders and cannot be bettered by broker deals. I saw reasearch recently that said only 3 of the top 10 fixed rates were available through brokers.

L&C have been accused of advertising that they will consider all deals but not actually delivering unless prompted.

This is likely to be a temporary situation, but is one that you need to be aware of.

Until then, you need to do your own research into direct deals as well. Unless you can find a broker who will guarantee to include them (and be able to prove it with their 'evidence of research'). You are likely to have to pay an upfront 'research & recomendation' fee for this kind of service though.

Forewarned is forearmed.

Conrad

You mention you are earning under the minimum national average, so I'm guessing you need a high income multiple.

A fee free broker may well do the job properly but I suspect a lot of ground work and many phone calls will need to be made to place your case and there is a high chance of down valuation currently so just be mindful that someone earning nothing with only a CHANCE the deal might go through might not be inclined to expend the required effort - it's Human nature.

Few builders for example would do say a days work just on the offchance they might be paid a commision.

Sorry fees free guys this is not a dig, just making the client aware he MIGHT find paying a modest up front fee may yield more effort up front. MIGHT