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  1. #11

    Richer than sasguru

    DimPrawn is a fount of knowledge

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    Pay the fee to who can provide the fastest service, because the average house goes up more than that in a week, so every second counts!

    Get on that property gravy train NOW! Toot-toot!

    Boomed!
    Patiently waiting for the much publicised and feared Brexit Doom.....

  2. #12

    Should post faster

    Power Mortgages Ltd is too good to be a permie


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    Quote Originally Posted by DimPrawn View Post
    Yes, in the old days, there was no fee. They got paid by the mortgage lender, which means they flogged you the product with the biggest commission, meaning you got a piss poor deal and ended up paying an extra £10K in interest rather than £800 due to being sold a crap mortgage.

    You prefer that business model then?
    Maybe back in the 1980's or 1990's possibly when regulation was not anywhere near what it is today you had a few cowboy mortgage brokers who did business this way but it was only the few and often they were caught and shut down. For a long time I can safely say no mortgage broker would recommend a mortgage based upon the commission a lender provides as there are strict processes and checks which would pick this up in no time and the broker would lose their licence to submit mortgage business. The commission lenders pay is pretty much in line with each other anyway, there is very little difference from one lender to the next in their procuration fees (commission payments to the mortgage brokers/networks).

    With increasing regulation changes and costs as well as additional steps mortgage brokers have to go through to place a mortgage (lender's are always changing criteria, requirements and rates constantly) it simply takes more time to place a mortgage now than it used to and I believe this is the reason you may see brokers who previously didn't charge fees, starting to charge fees.

    Brokers do charge different fees though and some charge upfront where others charge only upon completion. Best to look around and get a feel for what each company offers and then make your decision from there.

    Kind Regards
    Ben

  3. #13

    Contractor Among Contractors

    quackhandle 's job has never been outsourced

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    Can sort of recommend Freelancer Financials but I did have to give them a "metaphorical" kick mid way through the process to get things moving, (not entirely their fault granted) but they were very good after I'd done that.

    IIRC their fee was £500.

    qh
    He had a negative bluety on a quackhandle and was quadraspazzed on a lifeglug.

  4. #14

    My post count is Majestic

    d000hg - scorchio!

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    Quote Originally Posted by DimPrawn View Post
    Yes, in the old days, there was no fee. They got paid by the mortgage lender, which means they flogged you the product with the biggest commission, meaning you got a piss poor deal and ended up paying an extra £10K in interest rather than £800 due to being sold a crap mortgage.

    You prefer that business model then?
    The good ones didn't. Ours once recommended we take a product from a provider who didn't pay commission at that time! If you don't trust your IFA, you might as well not use them.
    Quote Originally Posted by MaryPoppins View Post
    I'd still not breastfeed a nazi
    Quote Originally Posted by vetran View Post
    Urine is quite nourishing

  5. #15
    AtW
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    Oh ffs, are you a contractor or what? Round it up to £1000 and tell them to keep change!

    That's the MF way.


  6. #16

    Richer than sasguru

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    Quote Originally Posted by AtW View Post
    Oh ffs, are you a contractor or what? Round it up to £1000 and tell them to keep change!

    That's the MF way.

    Tell them they can have the house price rise for the 1st week of occupancy, same thing.
    Patiently waiting for the much publicised and feared Brexit Doom.....

  7. #17

    Banned

    diseasex has more data than eek


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    Quote Originally Posted by AtW View Post
    Oh ffs, are you a contractor or what? Round it up to £1000 and tell them to keep change!

    That's the MF way.

    waste money where you can to show off your style! People will restecpa you then ;P

  8. #18

    Nervous Newbie

    Ristic has no reputation


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    No issue with paying a fee for a certain level of service, just more of a surprise that it went straight to the £900 mark when previously they were fee free!

    I am aware brokers are remunerated by way of a commission from the mortgage provider, so the fee must be additional to this.
    And today I'm sure there is 0% chance they could get away with selling a mortgage based on a higher rate of commission!

    I can see AS financial provide fee free contractor mortgages and can see some great reviews too. I'll give them a call tomorrow.

    R

  9. #19

    Grand Chief Guinea Pig

    Pogle is a permanent contractor

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    I have just completed a remortgage with Martin at A S Financial and was very happy with the service.
    I'm sorry, but I'll make no apologies for this

    Pogle is awarded +5 Xeno Geek Points.
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  10. #20

    My post count is Majestic

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    Quote Originally Posted by Pogle View Post
    I have just completed a remortgage with Martin at A S Financial and was very happy with the service.
    Nice avatar
    'CUK forum personality of 2011' - Winner - Yes really!!!!

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