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  1. #1

    Nervous Newbie

    Ristic has no reputation


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    Default Contractor Financials now charge a 900 mortgage fee!

    Used these guys a couple of years ago and overall pretty pleased with them.
    I have recently enquired re a mortgage for a potential move and they have informed me they now charge a 900 fee! Quite the increase from the fee free last time.

    I am currently in talks with Freelancer financials, still a mortgage fee, but half the price and service has been impressive so far.

    Does anyone know of alternative contractor brokers I should be looking at too?

    R

  2. #2

    Richer than sasguru

    DimPrawn is a fount of knowledge

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    Is the fee only payable once the mortgage is agreed and signed?

    If so, depends if they came beat the other brokers with better deals available, if not, shop around!
    Patiently waiting for the much publicised and feared Brexit Doom.....

  3. #3

    Fingers like lightning

    gables has more data than eek

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    Just been in contact with Contractor Mortgages (https://www.contractormortgagesuk.com/) and their fee is 895

  4. #4

    Nervous Newbie

    Ristic has no reputation


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    Thank you for the replies. I have been on the phone to an adviser today and it seems contractor financials and contractor mortgages uk are now the same business.

    Contractor financials seem to have bought out contractor mortgages uk or they may have always been the same company?

    Are there any fee free brokers out there?

  5. #5

    Respect my authoritah!

    NotAllThere - scorchio!

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    Quote Originally Posted by Ristic View Post
    ...
    Are there any fee free brokers out there?
    They've got to make money somehow. If it isn't an upfront fee it'll be something else - coming out of the slightly higher interest you pay, for example.
    You won. Get over it.

    --drunk on abuse of power--

  6. #6

    Richer than sasguru

    DimPrawn is a fount of knowledge

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    Quote Originally Posted by Ristic View Post
    Thank you for the replies. I have been on the phone to an adviser today and it seems contractor financials and contractor mortgages uk are now the same business.

    Contractor financials seem to have bought out contractor mortgages uk or they may have always been the same company?

    Are there any fee free brokers out there?
    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?
    Patiently waiting for the much publicised and feared Brexit Doom.....

  7. #7

    Banned

    The Janner Miss Tanner has no reputation


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    My understanding of this is that it's free if the the application is processed within 3 months.

    That's what they told me after 4 months & then I switched to Freelancer Financials. Half the price so it was a no-brainer.

  8. #8

    More time posting than coding

    filthy1980 is a permanent contractor


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    currently using contractor mortgages made easy and they charge 895 upon mortgage application so no gurantee of actual mortgage offer

    been impressed with their actual service though, and their portal for uploading doc's and evidence makes things a little simpler

  9. #9

    Fingers like lightning

    saptastic is a permanent contractor

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    The broker fee is in context of the total package - i.e. if they can get you the best deal and also provide the service to deliver the mortgage with minimum pain

  10. #10

    Double Godlike!

    Alias is NOT a disguised employee

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    I have found Ben @ Power Mortgages great and fee is reasonable (discount for mentioning the forum too)

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