mortgage advice

[Diablo]

I'm sure I'll get shot down here and, this isn't in any way meant to antagonise the mortgage experts or those offering services........but what exactly do the people who offer advice provide you that you can't find yourself?

When I remortgaged I just sat at my laptop for a whole day, noted all the offers and called all the ones suited to me. The comparison sites are so good now that I found it easy.

Again, this isn't a "don't use mortgage brokers" post. This is more of a "what am I missing out on by doing it myself?" question.

you`re missing paying them commission...

 

[Bold Seagull]

[MENTION=3887]Uncle Spielberg[/MENTION] offers a very thorough, swift and attentive service. Definitely worth a look what he can offer.

 

[Bold Seagull]

Certain lenders will only deal with intermediaries, and certain deals will only be offered through intermediaries.

Exactly. A good mortgage broker will also identify deals that you might not qualify for that might take u hours of applying for before you realise.

 

[Uncle Spielberg]

you`re missing paying them commission...

Have you tried to get a mortgage after 4/15 ? I would say there is about 5 hours upfront work on each mortgage now, at least

 

[Uncle Spielberg]

A bank interview will take 2-3 hours now to even establish if you can get a mortgage, that is just the start of the process, there are often 2-3 week delays to speak to one as well, so if you want to compare 4 banks for example yourself, take a day off, maybe 2

 

[Diablo]

Have you tried to get a mortgage after 4/15 ? I would say there is about 5 hours upfront work on each mortgage now, at least

sorry..bit of a wind up....I might need help early next year.

 

[Uncle Spielberg]

Have you tried to get a mortgage after 4/15 ? I would say there is about 5 hours upfront work on each mortgage now, at least

I mean't to say 2014

 

[Pretty pink fairy]

A NEW FEMALE MEMBER OF STAFF IN THE OFFICE TODAY
regards
DR

 

[Jim Van Winkle]

A NEW FEMALE MEMBER OF STAFF IN THE OFFICE TODAY
regards
DR

Were you firming up?

 

[Herr Tubthumper]

I'm sure I'll get shot down here and, this isn't in any way meant to antagonise the mortgage experts or those offering services........but what exactly do the people who offer advice provide you that you can't find yourself?

When I remortgaged I just sat at my laptop for a whole day, noted all the offers and called all the ones suited to me. The comparison sites are so good now that I found it easy.

Again, this isn't a "don't use mortgage brokers" post. This is more of a "what am I missing out on by doing it myself?" question.

What they offer is no-need to do this and sorting out all the paper work and dealing with the bank etc.

 

[reigate]

Absolutely this - sorted my own mortgage and doing same with new deal at the moment.

Did chat to some mortgage advisors originally who offered me the same deals I found myself, just at 0.5% or so higher interest - presumably to fund their commission/fee.

I'm sure some people don't know where to start, but if you understand the basics of different types of mortgage just sort it yourself. Much cheaper

I agree to a certain extent. I spoke to brokers but they could not offer me anything I could find myself. I also felt they increased the red tape and time going backwards and towards. I much preferred to pick up the phone sort things out myself.

However, I'm a financial analyst by trade so am comfortable dealing with numbers and understand interest rates etc. There are a lot of people who don't have a clue about this type of thing (in the same way I would need a plumber to fix a dripping tap), and so a broker is ideal for them. I also remember when I was younger with a low income and a broker was able to get me a deal I could not have got myself

 

[mejonaNO12 aka riskit]

What they offer is no-need to do this and sorting out all the paper work and dealing with the bank etc.

Fair enough. I think I'll stick with doing it myself and saving some pennies.

 

[8ace]

[tweet]681756061783687168[/tweet]

 

[Silkster365]

A bank interview will take 2-3 hours now to even establish if you can get a mortgage, that is just the start of the process, there are often 2-3 week delays to speak to one as well, so if you want to compare 4 banks for example yourself, take a day off, maybe 2

Took me 20 mins

 

[Hampster Gull]

Am sure there are some great advisors and they might get a few deals that cant be had elsewhere but other than the first time i always do myself. I suspect the more complicated your financial position or transaction the more value they would add.

 

[Herr Tubthumper]

Am sure there are some great advisors and they might get a few deals that cant be had elsewhere but other than the first time i always do myself. I suspect the more complicated your financial position or transaction the more value they would add.

How much does it cost for a broker to do it for you these days?

 

[Hampster Gull]

How much does it cost for a broker to do it for you these days?

Pass HT, was 15 years ago

 

[Uncle Spielberg]

Pass HT, was 15 years ago

Anyone who has not gone through the process of trying to get a mortgage post 2014 is in for a very steep learning curve

 

[Hampster Gull]

Anyone who has not gone through the process of trying to get a mortgage post 2014 is in for a very steep learning curve

Completely agree. I got a new mortgage late spring this year that also involved another remortgage and it was a nightmare (15 years ago was the first time). Took over six month and the bank dragged their feet and really messed us around. Got it through but only just before it looked li,e the seller had given up. Did it myself but was hard work.

To HTs point, is there a fee using an agent US?

 

[Super Steve Earle]

A bank interview will take 2-3 hours now to even establish if you can get a mortgage, that is just the start of the process, there are often 2-3 week delays to speak to one as well, so if you want to compare 4 banks for example yourself, take a day off, maybe 2

Not actually true, but I guess you have to make a living. There was me thinking I could do the first bit in about 15 minutes over the phone and usually get a local face to face appointment within 48 hours. But then I suppose banks are always fair game for a bit of unjustified generalisations.