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Anyone out there work for a company that does mortgages that the usual brokers dont get to see?
I have a mort arranged in principle by a broker already, am seeing my bank tonight see if they can beat the deal, but would be very interested to speak to someone else that the brokers dont get to deal with.
contact me on jtinda10@ford.com
Thanks.
HSBC, YBS (yorkshire building society), Britannia (not broker friendly).
Yep my bank is HSBC, trying them tonight.. thanks for the link.
Tinsy,
I just went through all of this Sunday/yesterday. THE place to look is, http://www.fsa.gov.uk/tables in here you can specify the criteria you require. This is updated daily too.
Tinsy, unless you are in a very strong position financially, you may find that you end up doing days of work and wasting loads of time. Lenders always show headline rates and deal which are only available to about 1% of applicants. The current market is fickle.
Try not to poo-poo your brokers work too quickly as they may have already recommended the best mortgage out there based on your circumstances.
No harm in talking to your bank, but there are a lot of brokers out there who do the best job possible - look at BigSi and his advice on here as an example, he's as straight as they come with his advice.
should say that the site I mentioned above has exclusive deals available to them that will not be found else where and they are totally independent. I had a meeting last week with one of their members about re-mortgaging and was really impressed with what could be tailored to my circumstances.
should say that the site I mentioned above has exclusive deals available to them that will not be found else where and they are totally independent. I had a meeting last week with one of their members about re-mortgaging and was really impressed with what could be tailored to my circumstances.
They will be found on the link I posted though as they have to be registered on the FSA by law.
DM52, most brokers get exclusive deals (different networks have different exclusives with various lenders).
[i]I had a meeting last week with one of their members about re-mortgaging and was really impressed with what could be tailored to my circumstances.
[/i] - you've hit the nail on the head here, the most important thing is the ability and talent of the individual (broker/member), not the company who you borrow from.
DM52, the website looks just like another broker, but will give them a ring for th eprice of a phone call.
Squin, I have talked breifly to bigsi, have tried two brokers and they have indeed came up with the same deal.
fwb2006, will take a look.
Mortgage Advice Bureau are only a broker.
I dont need anything tailoring, I got dosh for deposit, I out and out just want the best possible rate with the smallest possible setup costs.
Having tried 2 seperate independant brokers who have both come up with the same deal, I really want to hear from anyone in the industry that can offer me something the brokers dont get to see.
Run the criteria on the FSA www, I bet they will be beaten. Some of the best rates are not available through brokers.
Take a look at my posts, you'll see I started a topic about this last week. Got lots of good advice but nobody could beat what I found on the FSA.
fwb2006... I have tried the website but its not dealing with buy to lets, I guess I didnt want to mention that bit on here.
Tinsy, if it's a BTL, trust your broker (if you like him/her). BTL can currently be as much of a minefield as residential and lenders criteria can be a nightmare, plus it's not just the application that the broker will do, they'll do 80% of the work post application, plus they might be able to help you with your BTL investment strategy.
Individual lenders can only advise on their products and aren't allowed to advise on the market as a whole and I would suggest that your 'advisor' at the bank will not have as much knowledge about BTL as brokers who have experience.
A broker who has BTL experience should be able to discuss your exit strategy (even if your exit is long term), possible Capital Gains mitigation etc etc.
Its a long story squin, and its not really all investment, I dont really want to go into nitty gritty, I do trust the broker, I have used them before, I am in a great postition where I know pretty much exactly what I want from the mortgage, am hoping my bank can beat both the setup fee, and the interest rate, if they cant then i will have to go with my brokers choice...
Unless someone else pops up that actually works for a lender the brokers cant see and would like to get in touch, they could get a nice shiny new mortgage deal all signed up today to impress their boss with.
TBH it's all the buy to let's that's f*cked this whole market up.
Thanks for that, rest assured this isnt your usual invest while its good a F everyone else deal I am doing, to be honest for my own peresonal sanity let alone finances i would rather not be doing it.
Its much more complicated, and I am an astoudningly good bet to lend money too.
Not just buy to lets that ****ed it, there are plenty of people out there in there own homes only surviving because of the low interest rate, 5 years ago money was cheap and brokers could wangle untold sums for very little income, if anything broke it was GREED. Greed of buyers, greed of lenders and greed of brokers is what ****ed it.
Tinsy, put a call through to Nick Blunt @ Mortgages For Business. He generally has acess to far more BTL deals than your average broker - not suggesting your broker is average, but don't know which lenders he/she has access to! 🙂
[url= http://www.mortgagesforbusiness.co.uk/ ]Clicky Here![/url]
Also check out [url= http://www.moneysavingexpert.com/mortgages/ ]MSE mortgage advice[/url] and [url= http://forums.moneysavingexpert.com/forumdisplay.html?f=15 ]MSE mortgage forum[/url].
squin, i filled out the online thng will follow that up with a call after lunch..... I did assume all brokers had access to the same mortgages via some kind of trade website, kind of like us using Confused for car insurance??
Spacemonkey will take a look.
Thanks..
tinsy,
Worth looking at first direct as well as HSBC as they have different deals. If you've got cash for deposit they have some of the best rates I've seen
Tinsy, not all brokers have access to the same products, it depends on which network they are part of. A whole of market broker will always have the largest choice, but still ask which lenders they can't work with - normally it's only the likes of HSBC, YBS etc as they won't work with brokers, but still be aware that some brokers aren't whole of market and are tied to a very limited panel.