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Are independent Advisors better for mortgages?

gibboking
gibboking Posts: 226 Forumite
in Mortgages & endowments
Morning all.
Mortgages... am I going to get the best deal/advice from an advisor attached to the estate agent or am I better off seeing an independent advisor?
What are your experiences?
I am wanting to move house with 50k equity/deposit but it will be a first mortgage for my hubby (my ex is still named on current mortgage). We have both experience bad credit in the past but have been working on our scores and they have improved greatly.
I did see one advisor who said our affordability was £218k with a £175k mortgage, but the offer she went for only came back at £35k, which she couldn't understand.... last year it was a straight no due to credit score so things are getting better.
Look atfer the Pennies and the ££££'s will care for themselves :money:

Comments

  • sammyjammy
    sammyjammy Posts: 7,640 Forumite
    First Post First Anniversary Photogenic Name Dropper
    I would never recommend you use a "broker" attached to an estate agent. You need a good independant broker particularly in your circumstances.
    "You've been reading SOS when it's just your clock reading 5:05 "
  • dunstonh
    dunstonh Posts: 117,541 Forumite
    Combo Breaker First Anniversary First Post Name Dropper
    Estate agent brokers, apart from small independent agents, use salesforces. Often tied to a single insurer or limited panel of lenders. They also have the worst reputation of all the distribution channels (again, not small independent agents).

    An independent/whole of market mortgage and insurance broker (i.e. from the marketplace in ALL areas) is the preferred choice.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    Fifth Anniversary Photogenic First Post Name Dropper
    edited 20 May 2018 at 12:45PM
    The independent one my daughter used for her mortgage was absolutely outstanding. He was a personal recommendation from a friend and then an EA (not the one she bought through), but he's not affiliated to the EA in anyway. Found subsequently he has a very good reputation locally.
  • Caraway90
    Caraway90 Posts: 134 Forumite
    Fourth Anniversary Name Dropper 100 Posts
    Another vote for independent. We also used a broker recommended to us and he was brilliant.
    FTB 2017 :D
  • FTBNow
    FTBNow Posts: 146 Forumite
    Definitely go independent. Our independent broker has been a god send.
This discussion has been closed.
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