Can one of you kind mortgage brokers help please

beecher

I've had a quick look at the Woolwich website - the lifetime tracker at 0.99% over the base rate is for LTV of under 80% - there's also one at 0.74% over the base rate for LTVs of under 60%. Shouldn't you be going for that one?

payless

Broker deal - Base plus 0.99 deal is going tomorrow

beecher

So it is a broker deal which is worse than the one you'd get if you went directly to the Woolwich? Shouldn't the OP just phone them up directly and get the 0.74% over base rate deal herself?

Dan_Collins_2

Just had email, going up up up!!

payless

beecher wrote: »

So it is a broker deal which is worse than the one you'd get if you went directly to the Woolwich? Shouldn't the OP just phone them up directly and get the 0.74% over base rate deal herself?

My thoughts exactly, but they seem to prefer to us a broker / take broker deal ( lending criteria should be the same though)

foreversummer

Hi Guys

Just to update . . . . . had a call from my Broker who is trying to get the application through this afternoon, but struggling with the Woolwich system.

Can you clarify for me Payless - is it just the broker deal that is being pulled tomorrow? Will the .74 above base rate still be there if I apply directly?

And does anyone know what the replacement tracker margin will be.

Appreciate your help.

Foreversummer

payless

direct deal - no idea YET if changing

broker deal going up by .3% to base plus 1.29%

foreversummer

Thanks Payless

My Broker has had terrible difficulties today. Apparently he was de-registered and he has spent six hours trying to get our mortgage application through. It does, however, appear to have been successful - he has infact spoken with someone who says it is through OK.

However, he finds them such a nightmare to deal with, he is going to double check with them tomorrow.

Fingers crossed. Now lets hope that we made the right decision going for the tracker!

Foreversummer

Dan_Collins_2

They are poor with service at the mo. He needs to be careful as they no longer except new brokers.

Try direct.

payless

Thank you for replying. No, I am not paying the Broker and I do realise that you can get better deals going direct. But, as my husband is a Company Director of his own business being paid a low salary and receiving dividends etc, I find it easier to use a broker.

If you are saying what I think you might be saying , then I would not use Woolwich ( they make no bones about the fact that they check a % of cases for proof of income ) or any broker who implies a get around ( without telling you you could be asked for proof). In fact dealing direct ( as well as being cheaper - enough to pay the person who researched a fee!) would likely give you more protection if yopu tell Barclays / woolwich the full story.