Barclay vs metro bank mortgage

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ric1982
ric1982 Posts: 222 Forumite
in Mortgages & endowments
Hi,

We have option to apply for mortgage from either Barclays or metro bank both with same rates. Other expenses are also similar.

Could someone please advise which is the better to go with?
I am looking for following:
- Silly reason to decline the application.
- Ease of process.
- Processing times.

I am applying via MA and I am an IT Contractor.

Would be grateful if someone can share their experience?

Edit: There is also Nation Wide but the rate is slightly bit higher.

Thanks

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    What are the respective follow on SVR interest rates?
  • ric1982
    ric1982 Posts: 222 Forumite
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    Thrugelmir wrote: »
    What are the respective follow on SVR interest rates?

    They are almost same. (0.1 % difference)
  • jonnygee2
    jonnygee2 Posts: 2,086 Forumite
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    You are in luck, because I applied for a Barclays mortgage about 6 weeks ago. At that time, there was a massive delay in processing applications and it took almost 4 weeks for them to instruct a survey. By this time, on fear of losing the sale, we had already applied for a Halifax mortgage. Halifax managed to process the application and instruct the survey in just a few days.

    When they actually did the survey, Barclays said they wouldn't lend because it was deck access, but Halifax had no problem with it.

    Basically, I reckon, don't go with Barclays.
  • ACG
    ACG Posts: 23,729 Forumite
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    This is purely from a brokers perspective on the 2 lenders and nothing else in terms of likeliness of being accepted etc.

    But without a shadow of a doubt I would go with Metro. The Barclays application system is without doubt the worst system to use by a million miles.

    But they do have their place and sometimes they are the lender of choice - albeit rarely.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • amnblog
    amnblog Posts: 12,445 Forumite
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    edited 9 May 2018 at 8:03AM
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    Metro are not exactly pulling up trees at the moment either.

    It is down to your Broker to make this call.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
  • Mortgage_Adviser
    Mortgage_Adviser Posts: 374 Forumite
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    OK, the rates are the same.
    But are the fees different, eg valuation fee?
    Does one mortgage offers free legals and another cashback?
    How do those compare?
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