Contractor mortgages recommendation

[SueEllen]

There are not any.

WHS

Regulations changed yonks ago on who brokers can get their charges from to clean up the market.

[Pip in a Poke]

Hi,

Does anyone have recommendations for mortgage brokers for contractors that are fee free

Thanks

I applied for a mortgage through Contractor Financials & they were going through Furness & got a kick back so charged no fee.

Funny thing is they did charge a fee once x weeks had elepsed since the original DiP though.

[Wijay@WISAccountancy]

You can speak to WIS Mortgages - They should be able to help...

Hi,

Does anyone have recommendations for mortgage brokers for contractors that are fee free

Thanks

[Pondlife]

WHS

Regulations changed yonks ago on who brokers can get their charges from to clean up the market.

They can still get commission from the lender but they now have to disclose this to you (inc amount) when they provide the mortgage info.

[Dark Black]

Which you then refund to the bank via interest charges, funds booking fees, valuation fees, that sort of free?

Are you suggesting that brokers that charge client fees come up with good mortgage deals that don't have booking / valuation etc fees then?

I've used ContractorFinancials in the past who don't charge fees to the client (but obviously get a kick back from the bank) and found them to be very good.

Am interested where this thread goes as about to move house again.

[barrydidit]

Are you suggesting that brokers that charge client fees come up with good mortgage deals that don't have booking / valuation etc fees then?

Nope. Banks launch dozens of deals a week. Very few are for sale in Branch, many are bespoke to individual brokers. They're priced to attract the customer and the broker. I recall a surprising conversation at one place I worked revealing that, due to the cost of acquiring business, they didn't make any money until year 3 of lending. If you feck off after 2 years then they lose out.

So...You might find a product without a booking fee, but this will be priced with a higher interest rate (and vice versa). If you're borrowing a small amount of money then the lower the booking fee the better, it's generally better to pay a higher rate but not incur a grands worth of fees.

Unless you're remortgaging to a new lender then you'll probably have to pay valuation fees. If you're putting a colossal deposit down, you might only pay for a surveyor to slow down as they drive past, but you'll still pay something.

As ever, YMMV.

[BoredBloke]

I went through Yorkshire/Clydesdale bank. Couldn't fault them. Very simple to deal with and very contractor friendly. All of it was done over the phone and done very quickly. Like all of the banks they require a truckload of information.

PM me if you want the contact details for the person I dealt with at their mortgage centre as she was pretty good.

[Dark Black]

Unless you're remortgaging to a new lender then you'll probably have to pay valuation fees. If you're putting a colossal deposit down, you might only pay for a surveyor to slow down as they drive past, but you'll still pay something.

As ever, YMMV.

Judging by the things they missed, most of the surveyors I've used didn't actually stop at the property

[barrydidit]

Judging by the things they missed, most of the surveyors I've used didn't actually stop at the property

Aye. And yet my latest one held up the process by imagining 'there is subsidence', which £400 of closer looking by a colleague confirmed should be 'there is no subsidence'.

Shower of chunts.

[konsultant]

I used SuperContractors last year and on recommendation so did a colleague of mine. No problems at all; I was a first time buyer and bombarded them with bazillion noob questions which my contact patiently answered.

Thank you - will give them a ring as well