Useless mortgage broker or unrealistic expectations?
Discussion
This driving me crazy.
I bought my house 2 years ago and went with a broker who I found very professional, in fact I found it the easiest part of the process, they took my details, payslips etc, found me a great deal and did all the form filling, all I had to do was sign the final documents and declaration. Upon completion they said they'd make sure to be in touch when the 2 year fixed rate ended and to find me another deal, perfect I thought no problems....
... fast forward to this year, my 2 year fixed rate ended a month early (apparently it can happen?!0 so the mortgage company sent me a mail before advising me to switch or I'd flip to the variable rate. I gave my broker a few weeks to see if they'd call, nothing so I call them up and get told "ah yes actually your file is just on my desk" (I should have left then) anyway within an hour they've picked me out another nice deal which beat what I found myself. Then follows a questionnaire (not sure why since they already knew what I wanted and the questionnaire was largely working out what to recommend me) Then they need some details for the new company, they want to value the property, fine, there's a delay in booking that blah blah, anyway it's 2 months later and I've now received the standard hello pack from the mortgage companies solicitors basically asking me all the same questions again, an insurance declaration form and some other things (I've already signed a copy of that form from the mortgage company through my broker).
I've asked the solicitor if they shouldn't have got all these details from my broker, apparently not and my broker claims all these questionnaires are a result of new regulations (doesn't explain the duplication)
Long story short it's taking far longer and much more effort on my part to switch mortgage than getting my first one and I'm left wondering what I'm paying the brokers fee for? (£450) The first time round was so stress free it felt like a great use of my money, this time it feels like I'd have less forms and less hassle if I'd just sat on a certain meerkat website, if I'm having to fill in these forms and pointless things myself am I just paying the broker to run a search that clearly took them 30minutes at best and then 2 months of pointless faffing?
Am I being overly fussy? Given my previous great experience of this broker I think not
I bought my house 2 years ago and went with a broker who I found very professional, in fact I found it the easiest part of the process, they took my details, payslips etc, found me a great deal and did all the form filling, all I had to do was sign the final documents and declaration. Upon completion they said they'd make sure to be in touch when the 2 year fixed rate ended and to find me another deal, perfect I thought no problems....
... fast forward to this year, my 2 year fixed rate ended a month early (apparently it can happen?!0 so the mortgage company sent me a mail before advising me to switch or I'd flip to the variable rate. I gave my broker a few weeks to see if they'd call, nothing so I call them up and get told "ah yes actually your file is just on my desk" (I should have left then) anyway within an hour they've picked me out another nice deal which beat what I found myself. Then follows a questionnaire (not sure why since they already knew what I wanted and the questionnaire was largely working out what to recommend me) Then they need some details for the new company, they want to value the property, fine, there's a delay in booking that blah blah, anyway it's 2 months later and I've now received the standard hello pack from the mortgage companies solicitors basically asking me all the same questions again, an insurance declaration form and some other things (I've already signed a copy of that form from the mortgage company through my broker).
I've asked the solicitor if they shouldn't have got all these details from my broker, apparently not and my broker claims all these questionnaires are a result of new regulations (doesn't explain the duplication)
Long story short it's taking far longer and much more effort on my part to switch mortgage than getting my first one and I'm left wondering what I'm paying the brokers fee for? (£450) The first time round was so stress free it felt like a great use of my money, this time it feels like I'd have less forms and less hassle if I'd just sat on a certain meerkat website, if I'm having to fill in these forms and pointless things myself am I just paying the broker to run a search that clearly took them 30minutes at best and then 2 months of pointless faffing?
Am I being overly fussy? Given my previous great experience of this broker I think not
To be honest what you probably experienced two years ago was pre the regulations being tightened up. You have to jump through a lot more hoops now to get a mortgage.
I switched my mortgage myself to HSBC just before the regulations changed having thought to myself how hard could it be, it seemed however that HSBC were trialling the new procedures so had to send proof of everything, go through a lengthy monthly spending breakdown process, get a letter from my wife's employer as she was on maternity leave to say she was going back to work and how much she'd earn. Whole process took months, not helped by the fact that HSBC don't answer their phones and their solicitors were pretty crap.
Subsequent to that we approached them to get some additional borrowing for a loft conversion, cue another hour long phone call going through earnings, spending, was the mortgage we had right for us, etc. only to get turned down anyway. Luckily savings + bank of Mother/Father In-Law came to the rescue allowing us to go ahead anyway.
Next time I will use a financial advisor. Well worth the fee IMO.
I switched my mortgage myself to HSBC just before the regulations changed having thought to myself how hard could it be, it seemed however that HSBC were trialling the new procedures so had to send proof of everything, go through a lengthy monthly spending breakdown process, get a letter from my wife's employer as she was on maternity leave to say she was going back to work and how much she'd earn. Whole process took months, not helped by the fact that HSBC don't answer their phones and their solicitors were pretty crap.
Subsequent to that we approached them to get some additional borrowing for a loft conversion, cue another hour long phone call going through earnings, spending, was the mortgage we had right for us, etc. only to get turned down anyway. Luckily savings + bank of Mother/Father In-Law came to the rescue allowing us to go ahead anyway.
Next time I will use a financial advisor. Well worth the fee IMO.
I'm ok with additional checks it's the fact no information is passed around between people and if all the broker is doing is finding something that fits the bill then I can do a reasonable job of that myself, especially without spending 2 months on the more expensive variable rate like now.
For example the chain of processes is..
Me->broker->mortgage company-> solicitor
So now the solicitor is asking who my broker is, well the broker is the guy who instructed the mortgage company who instructed them! If I'm paying for a service then what do I get? Not a lot it seems. Likewise they've sent me the same insurance declaration form that I've already signed and returned to the mortgage company.
None of this was to do with my earnings etc that was done almost immediately after they recommended me the mortgage this all feels like generic "just send them a form as it's easier for us than working out what we need"
For example the chain of processes is..
Me->broker->mortgage company-> solicitor
So now the solicitor is asking who my broker is, well the broker is the guy who instructed the mortgage company who instructed them! If I'm paying for a service then what do I get? Not a lot it seems. Likewise they've sent me the same insurance declaration form that I've already signed and returned to the mortgage company.
None of this was to do with my earnings etc that was done almost immediately after they recommended me the mortgage this all feels like generic "just send them a form as it's easier for us than working out what we need"
Mortgages have changed a lot in 2 years.
When we purchased our house in 2014 it was quite simple, we are purchasing a new house now and it’s just silly.
How much do you spend on the following each month:
Flowers:
Cinema:
Headphones:
Bellybutton fluff:
Coke:
Hookers:
I’ve had to send SA302's, bank accounts, pay slips, hair clippings and a kitchen sink
It took two of us a solid 6 hours to fill out all the forms, then more came, and there is more to go yet.
When we purchased our house in 2014 it was quite simple, we are purchasing a new house now and it’s just silly.
How much do you spend on the following each month:
Flowers:
Cinema:
Headphones:
Bellybutton fluff:
Coke:
Hookers:
I’ve had to send SA302's, bank accounts, pay slips, hair clippings and a kitchen sink
It took two of us a solid 6 hours to fill out all the forms, then more came, and there is more to go yet.
MDMetal said:
This driving me crazy.
I bought my house 2 years ago and went with a broker who I found very professional, in fact I found it the easiest part of the process, they took my details, payslips etc, found me a great deal and did all the form filling, all I had to do was sign the final documents and declaration. Upon completion they said they'd make sure to be in touch when the 2 year fixed rate ended and to find me another deal, perfect I thought no problems....
... fast forward to this year, my 2 year fixed rate ended a month early (apparently it can happen?!0 so the mortgage company sent me a mail before advising me to switch or I'd flip to the variable rate. I gave my broker a few weeks to see if they'd call, nothing so I call them up and get told "ah yes actually your file is just on my desk" (I should have left then) anyway within an hour they've picked me out another nice deal which beat what I found myself. Then follows a questionnaire (not sure why since they already knew what I wanted and the questionnaire was largely working out what to recommend me) Then they need some details for the new company, they want to value the property, fine, there's a delay in booking that blah blah, anyway it's 2 months later and I've now received the standard hello pack from the mortgage companies solicitors basically asking me all the same questions again, an insurance declaration form and some other things (I've already signed a copy of that form from the mortgage company through my broker).
I've asked the solicitor if they shouldn't have got all these details from my broker, apparently not and my broker claims all these questionnaires are a result of new regulations (doesn't explain the duplication)
Long story short it's taking far longer and much more effort on my part to switch mortgage than getting my first one and I'm left wondering what I'm paying the brokers fee for? (£450) The first time round was so stress free it felt like a great use of my money, this time it feels like I'd have less forms and less hassle if I'd just sat on a certain meerkat website, if I'm having to fill in these forms and pointless things myself am I just paying the broker to run a search that clearly took them 30minutes at best and then 2 months of pointless faffing?
Am I being overly fussy? Given my previous great experience of this broker I think not
He charges you £450 every time???I bought my house 2 years ago and went with a broker who I found very professional, in fact I found it the easiest part of the process, they took my details, payslips etc, found me a great deal and did all the form filling, all I had to do was sign the final documents and declaration. Upon completion they said they'd make sure to be in touch when the 2 year fixed rate ended and to find me another deal, perfect I thought no problems....
... fast forward to this year, my 2 year fixed rate ended a month early (apparently it can happen?!0 so the mortgage company sent me a mail before advising me to switch or I'd flip to the variable rate. I gave my broker a few weeks to see if they'd call, nothing so I call them up and get told "ah yes actually your file is just on my desk" (I should have left then) anyway within an hour they've picked me out another nice deal which beat what I found myself. Then follows a questionnaire (not sure why since they already knew what I wanted and the questionnaire was largely working out what to recommend me) Then they need some details for the new company, they want to value the property, fine, there's a delay in booking that blah blah, anyway it's 2 months later and I've now received the standard hello pack from the mortgage companies solicitors basically asking me all the same questions again, an insurance declaration form and some other things (I've already signed a copy of that form from the mortgage company through my broker).
I've asked the solicitor if they shouldn't have got all these details from my broker, apparently not and my broker claims all these questionnaires are a result of new regulations (doesn't explain the duplication)
Long story short it's taking far longer and much more effort on my part to switch mortgage than getting my first one and I'm left wondering what I'm paying the brokers fee for? (£450) The first time round was so stress free it felt like a great use of my money, this time it feels like I'd have less forms and less hassle if I'd just sat on a certain meerkat website, if I'm having to fill in these forms and pointless things myself am I just paying the broker to run a search that clearly took them 30minutes at best and then 2 months of pointless faffing?
Am I being overly fussy? Given my previous great experience of this broker I think not
You are experiencing the mortgage market for the first time since MMR came in, in 2014 and now MCD which came in, in March 2016. Lots of hoops to jump through, for us as Broker's as well as you as customers....
Sarnie said:
MDMetal said:
This driving me crazy.
I bought my house 2 years ago and went with a broker who I found very professional, in fact I found it the easiest part of the process, they took my details, payslips etc, found me a great deal and did all the form filling, all I had to do was sign the final documents and declaration. Upon completion they said they'd make sure to be in touch when the 2 year fixed rate ended and to find me another deal, perfect I thought no problems....
... fast forward to this year, my 2 year fixed rate ended a month early (apparently it can happen?!0 so the mortgage company sent me a mail before advising me to switch or I'd flip to the variable rate. I gave my broker a few weeks to see if they'd call, nothing so I call them up and get told "ah yes actually your file is just on my desk" (I should have left then) anyway within an hour they've picked me out another nice deal which beat what I found myself. Then follows a questionnaire (not sure why since they already knew what I wanted and the questionnaire was largely working out what to recommend me) Then they need some details for the new company, they want to value the property, fine, there's a delay in booking that blah blah, anyway it's 2 months later and I've now received the standard hello pack from the mortgage companies solicitors basically asking me all the same questions again, an insurance declaration form and some other things (I've already signed a copy of that form from the mortgage company through my broker).
I've asked the solicitor if they shouldn't have got all these details from my broker, apparently not and my broker claims all these questionnaires are a result of new regulations (doesn't explain the duplication)
Long story short it's taking far longer and much more effort on my part to switch mortgage than getting my first one and I'm left wondering what I'm paying the brokers fee for? (£450) The first time round was so stress free it felt like a great use of my money, this time it feels like I'd have less forms and less hassle if I'd just sat on a certain meerkat website, if I'm having to fill in these forms and pointless things myself am I just paying the broker to run a search that clearly took them 30minutes at best and then 2 months of pointless faffing?
Am I being overly fussy? Given my previous great experience of this broker I think not
He charges you £450 every time???I bought my house 2 years ago and went with a broker who I found very professional, in fact I found it the easiest part of the process, they took my details, payslips etc, found me a great deal and did all the form filling, all I had to do was sign the final documents and declaration. Upon completion they said they'd make sure to be in touch when the 2 year fixed rate ended and to find me another deal, perfect I thought no problems....
... fast forward to this year, my 2 year fixed rate ended a month early (apparently it can happen?!0 so the mortgage company sent me a mail before advising me to switch or I'd flip to the variable rate. I gave my broker a few weeks to see if they'd call, nothing so I call them up and get told "ah yes actually your file is just on my desk" (I should have left then) anyway within an hour they've picked me out another nice deal which beat what I found myself. Then follows a questionnaire (not sure why since they already knew what I wanted and the questionnaire was largely working out what to recommend me) Then they need some details for the new company, they want to value the property, fine, there's a delay in booking that blah blah, anyway it's 2 months later and I've now received the standard hello pack from the mortgage companies solicitors basically asking me all the same questions again, an insurance declaration form and some other things (I've already signed a copy of that form from the mortgage company through my broker).
I've asked the solicitor if they shouldn't have got all these details from my broker, apparently not and my broker claims all these questionnaires are a result of new regulations (doesn't explain the duplication)
Long story short it's taking far longer and much more effort on my part to switch mortgage than getting my first one and I'm left wondering what I'm paying the brokers fee for? (£450) The first time round was so stress free it felt like a great use of my money, this time it feels like I'd have less forms and less hassle if I'd just sat on a certain meerkat website, if I'm having to fill in these forms and pointless things myself am I just paying the broker to run a search that clearly took them 30minutes at best and then 2 months of pointless faffing?
Am I being overly fussy? Given my previous great experience of this broker I think not
You are experiencing the mortgage market for the first time since MMR came in, in 2014 and now MCD which came in, in March 2016. Lots of hoops to jump through, for us as Broker's as well as you as customers....
MDMetal said:
I'm ok with additional checks it's the fact no information is passed around between people and if all the broker is doing is finding something that fits the bill then I can do a reasonable job of that myself, especially without spending 2 months on the more expensive variable rate like now.
For example the chain of processes is..
Me->broker->mortgage company-> solicitor
So now the solicitor is asking who my broker is, well the broker is the guy who instructed the mortgage company who instructed them! If I'm paying for a service then what do I get? Not a lot it seems. Likewise they've sent me the same insurance declaration form that I've already signed and returned to the mortgage company.
None of this was to do with my earnings etc that was done almost immediately after they recommended me the mortgage this all feels like generic "just send them a form as it's easier for us than working out what we need"
You need to understand that every entity in the process is responsible for their part of the process and they have to carry out their strict due diligence to satisfy the FCA and the powers that be, that their part was transacted in accordance with regulation.For example the chain of processes is..
Me->broker->mortgage company-> solicitor
So now the solicitor is asking who my broker is, well the broker is the guy who instructed the mortgage company who instructed them! If I'm paying for a service then what do I get? Not a lot it seems. Likewise they've sent me the same insurance declaration form that I've already signed and returned to the mortgage company.
None of this was to do with my earnings etc that was done almost immediately after they recommended me the mortgage this all feels like generic "just send them a form as it's easier for us than working out what we need"
For example, we require applicants to provide 1x Proof of ID & 2x Proof's of Address to satisfy Anti-Money Laundering criteria. The lenders often ask us for this, but not always, but if they ask for it or not, we are responsible for it so it needs to be done. When the Solicitors are instructed, they will then also ask for ID and Proof's of address. Clients often say that they have already given to their Broker, but the Solicitor cannot accept that as they themselves have to comply with their own procedures and regulations and satisfy themselves independently of whatever you have given to the Broker, the lender or anyone else.
I can tell you, that no Broker is "just" finding you a rate. If it were, comparison sites would have wiped us out.
However, it might just be that your Broker isn't great, the lender isn't great or the solicitors are poor. Or they could all be great or any combination of the three.
Although it seems that you don't really have an actual issue with the Broker and what they did but just the actual process that you are having to go through now, which with all the new regulations, is symptomatic of mortgage lending in 2016!
MDMetal said:
Indeed 450 for my first mortgage and 450 for this remortgage, I can't see what I'm buying this time for that money though, when I did my first application it felt totally worth it, very stress free and I was very happy with the service, that lady has obviously retired and I've a different member of staff now and I'm less happy, I'll have a good moan at them when it's done for now I've stuck to some quiet grumbles as I want it done and out of the way.
Wow.£450 every time!!
Sarnie said:
MDMetal said:
Indeed 450 for my first mortgage and 450 for this remortgage, I can't see what I'm buying this time for that money though, when I did my first application it felt totally worth it, very stress free and I was very happy with the service, that lady has obviously retired and I've a different member of staff now and I'm less happy, I'll have a good moan at them when it's done for now I've stuck to some quiet grumbles as I want it done and out of the way.
Wow.£450 every time!!
I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
MDMetal said:
Would you be implying it's usual to pay a single fee and be "looked after" for as long as needed or the fee would usually be lower?
I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
If you can get out without any fee do it. Get in touch with Sarnie. Highly recommended from me and everyone on here.I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
MDMetal said:
Would you be implying it's usual to pay a single fee and be "looked after" for as long as needed or the fee would usually be lower?
I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
"Would you be implying it's usual to pay a single fee and be "looked after" for as long as needed"I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
^Thats what we do. Of course, every firm has their own business model on how they want and feel they need to transact business. But, in my opinion, wanting to charge £450 every single time is niave and short sighted. If you try and charge a current client another £450 for their remortgage, they have a choice to make; pay it again or go somewhere else and potentially pay less. We don't charge people for any future remortgage, additional purchases or BTL's etc. The theory being "why wouldn't the client return back to us if it's free?".......means we retain happy clients and having an increasing client bank rather than having current clients leave because we tried to be greedy and charge £450 again.
"I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)"
^Not sure about this, we would never provide anything to a Solicitor. We usually don't have ANY contact with the Solicitors. My assumption is that they are asking for Certified ID documents and saying that the Broker can Certify them.....
"As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier"
If I was charging my customers £450 each time, I'd happily take a call asking me to send ID to the Solicitor or chase a surveyor etc!
Sarnie said:
MDMetal said:
Would you be implying it's usual to pay a single fee and be "looked after" for as long as needed or the fee would usually be lower?
I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
"Would you be implying it's usual to pay a single fee and be "looked after" for as long as needed"I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
^Thats what we do. Of course, every firm has their own business model on how they want and feel they need to transact business. But, in my opinion, wanting to charge £450 every single time is niave and short sighted. If you try and charge a current client another £450 for their remortgage, they have a choice to make; pay it again or go somewhere else and potentially pay less. We don't charge people for any future remortgage, additional purchases or BTL's etc. The theory being "why wouldn't the client return back to us if it's free?".......means we retain happy clients and having an increasing client bank rather than having current clients leave because we tried to be greedy and charge £450 again.
"I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)"
^Not sure about this, we would never provide anything to a Solicitor. We usually don't have ANY contact with the Solicitors. My assumption is that they are asking for Certified ID documents and saying that the Broker can Certify them.....
"As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier"
If I was charging my customers £450 each time, I'd happily take a call asking me to send ID to the Solicitor or chase a surveyor etc!
MDMetal said:
Sarnie said:
MDMetal said:
Would you be implying it's usual to pay a single fee and be "looked after" for as long as needed or the fee would usually be lower?
I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
"Would you be implying it's usual to pay a single fee and be "looked after" for as long as needed"I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)
As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier
^Thats what we do. Of course, every firm has their own business model on how they want and feel they need to transact business. But, in my opinion, wanting to charge £450 every single time is niave and short sighted. If you try and charge a current client another £450 for their remortgage, they have a choice to make; pay it again or go somewhere else and potentially pay less. We don't charge people for any future remortgage, additional purchases or BTL's etc. The theory being "why wouldn't the client return back to us if it's free?".......means we retain happy clients and having an increasing client bank rather than having current clients leave because we tried to be greedy and charge £450 again.
"I get that there's a level of responsibility however the id form says I need to provide it through my broker (which is obviously why they're asking who that is, the broker knows who they are though so I'm somewhat confused as to why I'm involved)"
^Not sure about this, we would never provide anything to a Solicitor. We usually don't have ANY contact with the Solicitors. My assumption is that they are asking for Certified ID documents and saying that the Broker can Certify them.....
"As you've sorted of implied I'm feeling If I have to do all the chasing then I'm not getting a good deal here, I'd not be moaning if I had to do all this but it was on my own time with no fee (and I understand I'd be doing some other bits and pieces too) Although I've had friends say they've gone with various online companies and been done faster and easier"
If I was charging my customers £450 each time, I'd happily take a call asking me to send ID to the Solicitor or chase a surveyor etc!
Ozzie Osmond said:
1. What is the current level of their "standard variable rate"?
2. Do you really need to "fix" at all?
The overall point here is that there's no point paying for insurance (the fix) if you don't need it.
Yes I do, I was on a 90% Ltv and with the change in the houses value I bow at 67% so it's worth the switch2. Do you really need to "fix" at all?
The overall point here is that there's no point paying for insurance (the fix) if you don't need it.
Sarnie said:
We don't charge people for any future remortgage, additional purchases or BTL's etc. The theory being "why wouldn't the client return back to us if it's free?".......means we retain happy clients
I can confirm no fees and a very happy customer here and I'm 150 miles away. Sarnie is currently handling my 4th mortgage for me. I wouldn't go anywhere else now.
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