Contractor Financials now charge a £900 mortgage fee!
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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

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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!
    If you look really hard, really really hard, you will find Doom™ everywhere.

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

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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?

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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.
    --drunk on abuse of power--

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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?
    If you look really hard, really really hard, you will find Doom™ everywhere.

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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.

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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

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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

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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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