+ Reply to Thread
Page 2 of 3 FirstFirst 1 2 3 LastLast
Posts 11 to 20 of 25
  1. #11

    Super poster


    Join Date
    Jul 2008
    Posts
    2,718
    Thanks (Given)
    3
    Thanks (Received)
    38
    Likes (Given)
    68
    Likes (Received)
    156

    Default

    Thanks all, many useful leads there
    The Pygmy Shrew of Wall St.

  2. #12
    GB9
    GB9 is offline

    Super poster


    Join Date
    May 2012
    Location
    Mainly on a train
    Posts
    3,060
    Thanks (Given)
    82
    Thanks (Received)
    100
    Likes (Given)
    292
    Likes (Received)
    556

    Default

    Quote Originally Posted by pjclarke View Post
    Thanks all, many useful leads there
    Do any of these not charge an application fee?

    Contractor Financials have started charging one since they were bought out. They also get commission on any mortgage arranged and I don't fancy paying twice if I can help it.

  3. #13

    Still gathering requirements...


    Join Date
    Nov 2015
    Posts
    45
    Thanks (Given)
    1
    Thanks (Received)
    5
    Likes (Given)
    3
    Likes (Received)
    3

    Default

    Quote Originally Posted by GB9 View Post
    Do any of these not charge an application fee?

    Contractor Financials have started charging one since they were bought out. They also get commission on any mortgage arranged and I don't fancy paying twice if I can help it.
    Most charge a fee these days, whether specialist or not, to cope with the extra regulation and 'behind the scenes' work that goes into a mortgage application. This enables them to provide a high level of service standards as well as satisfying all additional FCA requirements.

  4. #14

    Super poster

    Scruff's Avatar
    Join Date
    Mar 2013
    Location
    Londres
    Posts
    2,340
    Thanks (Given)
    34
    Thanks (Received)
    100
    Likes (Given)
    428
    Likes (Received)
    352

    Default

    They do this to overcome punters who know the cost of everything, and the value of nothing. They don't get paid twice - you pay them for their Professional Services and the Finance Company pay them a Commission. If you try and do this yourself, you will, in most instances, not be able to achieve savings over and above this. Good advice is priceless.
    We have a poverty of intellect....
    QDOS Referral Code http://www.qdoscontractor.com/code/QCL26507
    IPSE Referral Code http://www.ipse.co.uk/join/IPSE01396

  5. #15
    GB9
    GB9 is offline

    Super poster


    Join Date
    May 2012
    Location
    Mainly on a train
    Posts
    3,060
    Thanks (Given)
    82
    Thanks (Received)
    100
    Likes (Given)
    292
    Likes (Received)
    556

    Default

    Look at it a different way. You apply for a contract. The agency charges you for the application. And then charges the client commission too. And I thought providing professional advice was part of winning the work.

    As I said, I don't mind paying for the service but I was also under the impression that paying a fee would result in unbiased advice, not advice that could end up with the agent making commission from the product they sell too.


  6. #16
    GB9
    GB9 is offline

    Super poster


    Join Date
    May 2012
    Location
    Mainly on a train
    Posts
    3,060
    Thanks (Given)
    82
    Thanks (Received)
    100
    Likes (Given)
    292
    Likes (Received)
    556

    Default

    Quote Originally Posted by Emma Power Mortgages View Post
    Most charge a fee these days, whether specialist or not, to cope with the extra regulation and 'behind the scenes' work that goes into a mortgage application. This enables them to provide a high level of service standards as well as satisfying all additional FCA requirements.
    I won't ask what all the 'additional' work and regulations are........

    If I pay you a fee, how do I know I am getting the best deal and not the one that gives you the greatest commission? (I actually thought getting both was illegal these days).

    And if I have years worth of accounts, can you get access to the best rates?

    Ta

  7. #17

    Still gathering requirements...


    Join Date
    Feb 2015
    Posts
    33
    Thanks (Given)
    0
    Thanks (Received)
    0
    Likes (Given)
    0
    Likes (Received)
    2

    Default

    Quote Originally Posted by northernladuk View Post
    Could that be because the broker didn't get the right details from the start?
    No was with BM. They were originally happy with my contract ending in 3 months. Then they took so long it was coming to end of the 3 months and asked for another 3 months (fair enough). They were happy again and sorted the survey.

    A couple of weeks after this they then said 3 months wasn't long enough and asked for 6 months - luckily the business I am contracting with were happy to write a letter stating this, otherwise it probably wouldn't have happened.

    Halifax were happy with the original 3 months and needed nothing else.

  8. #18

    Banned


    Join Date
    Mar 2015
    Posts
    977
    Thanks (Given)
    45
    Thanks (Received)
    37
    Likes (Given)
    123
    Likes (Received)
    193

    Default

    Quote Originally Posted by JohnJizzle View Post
    No was with BM. They were originally happy with my contract ending in 3 months. Then they took so long it was coming to end of the 3 months and asked for another 3 months (fair enough). They were happy again and sorted the survey.

    A couple of weeks after this they then said 3 months wasn't long enough and asked for 6 months - luckily the business I am contracting with were happy to write a letter stating this, otherwise it probably wouldn't have happened.

    Halifax were happy with the original 3 months and needed nothing else.
    Halifax okayed mine with 2 weeks to run.

    Shame the purchase fell through....

  9. #19
    GB9
    GB9 is offline

    Super poster


    Join Date
    May 2012
    Location
    Mainly on a train
    Posts
    3,060
    Thanks (Given)
    82
    Thanks (Received)
    100
    Likes (Given)
    292
    Likes (Received)
    556

    Default

    Even though Emma hasn't replied to me I'm going with Power.

    CF/CMME are both charging ridiculous fees and seemed far more interested in cross selling to me.

    FF didn't answer the phone.

    Power even suggested that I may get a better deal using previous accounts which was one of my key points.

  10. #20

    Still gathering requirements...


    Join Date
    Nov 2015
    Posts
    45
    Thanks (Given)
    1
    Thanks (Received)
    5
    Likes (Given)
    3
    Likes (Received)
    3

    Default

    Quote Originally Posted by GB9 View Post
    I won't ask what all the 'additional' work and regulations are........

    If I pay you a fee, how do I know I am getting the best deal and not the one that gives you the greatest commission? (I actually thought getting both was illegal these days).

    And if I have years worth of accounts, can you get access to the best rates?

    Ta
    We would always recommend the best deal available based on your circumstances, we cannot search based on commission paid.

    If it would help to ease your mind I am sure the any of my colleagues here would take the time to explain why they haven't recommended someone who appears to have a cheaper rate and why you don't meet their criteria if this is the case. Its usually an open discussion and consultation between client and broker and you should feel free to ask any questions you see fit.

    I hope this helps

+ Reply to Thread
Page 2 of 3 FirstFirst 1 2 3 LastLast

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Content Relevant URLs by vBSEO 3.6.0 ©2011, Crawlability, Inc.