Have you spoke to L&C? I found them very helpful in the past. They even fought my corner when Nationwide wanted to increase my interest rate when I undervalued the house.
Mortgage Rate Rises
- Thread starter glenimp617
- Start date
Hi,
I havnt spoken to them in the past no, any good ? worth a speak with them to do a quick re-mortgage search? do they charge a brokers fee?
I was very happy with the service they provided, although I last used them in 2018. They collect their fee from the mortgage lender.
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Thanks worth a shot, I was going to approach one more broker so i have checked atleast 3 different brokers
Second this for L&C. John Charcol were also very helpful.
Both are fee free so worth talking to.
Used l&c when buying house. It was useful then so much paperwork flying about it was nice to have someone doing that part.
Granted they had no better deals than the price comparison sites but for first house i was just happy to not have to deal with it
Granted they had no better deals than the price comparison sites but for first house i was just happy to not have to deal with it
I use a (paid) broker as I want someone I can ask questions of and get advice. I wont lie, I didn't realise some would do it for free, but I guess they're getting money that would have been yours, one way or another? Mine found me a 5 year fixed at 3.95%, which is what I'm going with.
They claim it from the other side (lender) .
So It genuinely is free.
No matter if you pay or go through a free broker, always just try a money supermarket type search. If they are no better just go with the free one. Or if it's simple remortgage just go for whoever is cheapest
For those of us that got cashback on our offers it's a double saving. Save the fee broker might charge and get given some cash!
This isn't trivial amounts of cashback either. This is 100s. We w
Saved at least 1000 going direct vs a paid broker.
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Yeah if you are a vanilla person I wouldn't bother with a fee-paid broker. Most of the deals are available online direct from the mortgage company.
Pretty low but if you can grab some cashback and get someone else to fill the forms out, why not
I'd have to fill out to forms no one is going to do it for me ha
The only other thing I cannot decide still is tracker Vs fixed rate iv said this a few times in this thread. I can't make my mind up . It's annoying they are hanging the fishing hook and bait on the lower cost ones being 5 year. I don't want to lock in at 5 year at these rates
The only other thing I cannot decide still is tracker Vs fixed rate iv said this a few times in this thread. I can't make my mind up . It's annoying they are hanging the fishing hook and bait on the lower cost ones being 5 year. I don't want to lock in at 5 year at these rates
I'm guessing that's instead of cashback though. Bottom line, they are happy to give a lump to someone for you to take their mortgage. I'm getting that lump, I pay the adviser for their advice and general effort. Tbh, the amount of help and advice they've given over the years, I think it's been quite good value for me.
As always, it depends... I double dipped with Habito. I had £600 through QuidCo and then about £1500 from Nationwide.
I’ve always used a local free broker when taking out a new mortgage or moving lenders, yes the deals are pretty much all available direct (some smaller building societies only deal with brokers) but it saves me filling out forms and mucking about so it is worth everyone of the zero pennies it costs me and a lot more than that when we were doing a more complicated let-to-buy loan which a lot of lenders don’t like!
Habito being the comparison engine like money super market,. They are not listed on Quidco, nationwide £1500? Can't see any info online only £500 FTB cashback
Anyone got any lender info on who's doing the best cashback offers at the moment for remortgage ? (Not FTB)
Habito is a broker just like any other, not sure what you are talking about.
Anyone got any lender info on who's doing the best cashback offers at the moment for remortgage ? (Not FTB)
It's hard as usually you would pay mortgage brokers/advisors for their sound knowledge of where the market is, where it's going in xyz years but no one seems to know , so they can't really advise what maybe best for you, tracker, fixed or fix for 2, 3 or 5 years.
I think Virgin money and HSBC are both offering fixes at approx 3.99% at the moment. I'm currently with virgin
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Ha yeah the broker I had thought it was best to wait rather than pay my erc. I accepted that. Couple of weeks later I got too scared so did the remortgage myselfI and paid the erc. So they aren't always best source of advice.
Wasn't much paper work going direct. I dealt with a mortgage advisor from Lloyds. She asked all the questions and told me what paper work to get.
She asked some questions but it wasn't really any different from a full market broker in terms of work.
Its only 250 quid cashback with lloyds now. Was 750 before
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Fair enough.
I'll just have to decide on fixed rate or tracker deal. Iv only been through one application 5 years ago as a FTB. When I did I only had to supply virgin money mortgages with 3 x payslips and a p60. No bank account checks . What are places like Lloyds, Halifax , HSBC , nationwide etc like with that? They will scan through 3 months of statements etc ?
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Soldato
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You want a tracker in the hopes interest rates will go down, but how much can they exactly go down, and the answer is very little, while they can go up a lot more.
I consider that trading/speculation, not purchasing a home to live in scenario.
I googled quickly and found a 4% fixed for 25 years, with a 1% repayment penalty, i think the penalty is only for the first 3 years, either way, i consider that to be great
If things get worse, then interest rates go up higher, your house valuation will be lower due to this, in that scenario, your happy as your fix is far below
If things get better, interest rates go down, its not entirely bad, house valuation will not go down ultimately you can re-mortgage at that point and go on a new fixed term which is better.