dogbot
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Post by dogbot on Sept 26, 2022 12:07:16 GMT
Who has used a mortgage broker here? Any recommendations? How much did you save on interest rates compared to those advertised via normal means? I have used them in the past and they often have some good deals, sometimes including better than you might get directly from a provider because they have bulk buy terms. There's no guarantees, though. They might get you a slightly better rate, but they'll usually try to bundle other services too and there's likely to be a fee as well - although, I think most of the cheaper rates will likely have an arrangement fee at the front end. MSE do a decent roundup on how to buy mortgages, including speaking to a broker. I'll find it for you.
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dogbot
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Post by dogbot on Sept 26, 2022 12:08:54 GMT
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Post by Dougs on Sept 26, 2022 19:46:28 GMT
Always used a broker, but make sure you go for a whole market one if you choose to. Although last time I found a better deal myself, they still did all the running around which made a difference when things started to go a bit pear shaped.
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Post by Honk If You're Horny? on Sept 26, 2022 19:50:51 GMT
I used a broker. Definitely got me a better rate.
Depends on size of your mortgage though I guess and if the sa ing outweighs any fee.
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Post by Dougs on Sept 26, 2022 20:43:00 GMT
Last time the lender paid the fees still. Which I thought they'd got rid of but there we go.
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Tomo
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Post by Tomo on Sept 26, 2022 20:47:03 GMT
Always used a broker, but make sure you go for a whole market one if you choose to. Although last time I found a better deal myself, they still did all the running around which made a difference when things started to go a bit pear shaped. Pear shaped in what way?
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Tomo
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Post by Tomo on Sept 26, 2022 20:48:06 GMT
I used a broker. Definitely got me a better rate. Depends on size of your mortgage though I guess and if the sa ing outweighs any fee. Which broker? Looking at 400k+ mortgage so think that's pretty sizeable...
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Post by Honk If You're Horny? on Sept 26, 2022 21:24:03 GMT
I'm a contractor rather than permanent so used a specific broker (CMME) as had just started a new contract.
Not much help sorry!
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Post by Dougs on Sept 26, 2022 21:47:34 GMT
Always used a broker, but make sure you go for a whole market one if you choose to. Although last time I found a better deal myself, they still did all the running around which made a difference when things started to go a bit pear shaped. Pear shaped in what way? Once the lender was dragging their heels and we risked losing a sale and once the lender seemed to think we owned a property in Plymouth which he spotted before he sent us the forms. Both times he was on the phone giving them an earful.
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dogbot
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Post by dogbot on Sept 27, 2022 9:31:52 GMT
I used a broker. Definitely got me a better rate. Depends on size of your mortgage though I guess and if the sa ing outweighs any fee. Which broker? Looking at 400k+ mortgage so think that's pretty sizeable... If you want a recommendation, the top rated brokers at my previous employer were Trinity Financial Services: www.trinityfinancialgroup.co.uk/mortgages/Or Ed at Eastgate is also very good and a really nice bloke as well (bonus points as they have a Quokka listed on their office staff). www.eastgateassociates.com/
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Post by BurnoutJunkie on Sept 27, 2022 21:32:30 GMT
Man, I'm so glad I bought a house earlier this year. Got a 5 year fix...hopefully things will have improved 2027. Argh!!
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Rich
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Post by Rich on Sept 28, 2022 10:47:46 GMT
8th March 2022 Woo! Had an offer accepted last night. Long way to go still, but feels good. After the buyers at the top of the chain pulled out last week, and our mortgage offer expires today, we've finally sacked this one off after 6 months. We'll be completely destroying the chain but really couldn't care, they've had enough time. Telling the agent felt good, as they pleaded that the sellers had just found yet another property with a shorter chain. Had an offer accepted on another place, no chain and our broker has managed to get a very good (under current circumstances) mortgage which is being sorted out. I'm feeling pretty good this time.
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mikeck
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Post by mikeck on Sept 28, 2022 15:40:35 GMT
Ah man, I bet it felt AMAZING! You've been dicked around enough, fuck that noise.
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Rich
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Post by Rich on Sept 28, 2022 17:00:01 GMT
I must admit, it did feel good when the agent started to plead, despite hearing that I'd already instructed our solicitors, and found a new property.
They genuinely could not have been less interested in us since the offer was accepted, and were always defensive, annoyed even, when we kept calling for updates. Bye bye commission.
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dogbot
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Post by dogbot on Sept 28, 2022 17:24:20 GMT
Excellent news, Rich, pleased to hear it.
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Deleted
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Post by Deleted on Oct 11, 2022 11:33:59 GMT
So I'm about to put my flat on the market and move into rented with the Future Mrs GoatApocalypse. I need to get at least £150k to make it worth my while (I paid £142k and I'd like to take something away from it once I've paid the agents and the solicitors). Stuff round here is still selling like hotcakes, but I'm tempering my optimism because I assume the pipeline of approved mortgages is dwindling rapidly.
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Deleted
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Post by Deleted on Oct 12, 2022 16:46:08 GMT
Any of you hogs wanna buy a flat in south Birmingham
It's not shit, honestly.
Birmingham, I mean.
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Deleted
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Post by Deleted on Oct 21, 2022 11:23:59 GMT
Finally got some viewings lined up. Was beginning to fear the worst.
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Deleted
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Post by Deleted on Oct 25, 2022 13:34:34 GMT
Had my first offer in - £10k, or 7%, below the asking price.
NO DEAL.
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mrpon
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Post by mrpon on Oct 25, 2022 15:31:32 GMT
That's pretty good, 10% is the norm.
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Post by freddiemercurystwin on Oct 25, 2022 15:49:49 GMT
Not down here, places go for the asking price or above.
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mrpon
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Post by mrpon on Oct 25, 2022 16:07:21 GMT
I was more meaning the first offer rather than selling price!
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Deleted
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Post by Deleted on Nov 1, 2022 10:26:46 GMT
No acceptable offers and no viewings lined up I'm going to be stuck in this bastard flat for years, aren't I
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dogbot
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Post by dogbot on Nov 1, 2022 11:38:47 GMT
No acceptable offers and no viewings lined up I'm going to be stuck in this bastard flat for years, aren't I Is it rentable?
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Deleted
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Post by Deleted on Nov 2, 2022 19:07:56 GMT
Probably but I'd rather eat my own balls than become a landlord
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Post by freddiemercurystwin on Nov 2, 2022 19:28:06 GMT
So I've been thinking a lot about this lately, as I'm concerned about our own family's finances. I'm a landlord, I own (or have a mortgage on) one flat that I rent out, I'm a pretty good landlord, I sort stuff quickly and the property is in good condition but here's the thing, overall I think I've made a loss every year I've had it (about 16 years) after various outgoings, paying out to get a new tenant, various bits of maintenance, accountants fees, tax etc. The mortgage rates are rapidly going up so my losses will only increase over the next few years. The property has in fact devalued since I bought it, I'm not sitting on some massive nest egg. The reason I'll keep going at it is that I've come this far and after I've paid off the mortgage in another 8 years or something at least I can sell it if I've really had enough of it by then, I'd never have saved anything like the same money I (hopefully) will get back then (after tax of course) so please don't tar all landlords with the same brush.
/puts crash helmet on
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dogbot
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Post by dogbot on Nov 2, 2022 19:30:21 GMT
Probably but I'd rather eat my own balls than become a landlord Up to you, but it is possible you could do some good... you don't have to be van Hoogstraten. Or, you know, be stuck with it and hope your principles keep you warm.
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mrpon
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Post by mrpon on Nov 2, 2022 21:52:24 GMT
Or, you know, 7%
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Deleted
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Post by Deleted on Nov 3, 2022 15:57:11 GMT
Probably but I'd rather eat my own balls than become a landlord Up to you, but it is possible you could do some good... you don't have to be van Hoogstraten. Or, you know, be stuck with it and hope your principles keep you warm. I know there are some excellent private landlords out there but as well as going against my politics and as user freddiemercurystwin points out, I'm not entirely confident that I could make it work financially. Mercifully, my electric blanket will ensure I don't need to worry about being kept warm by principle alone.
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Deleted
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Post by Deleted on Nov 3, 2022 16:07:30 GMT
I didn't intend to tar everyone with the same brush, although it is kinda funny to me how defensive landlords get when people point out that maybe having such a large part of the population dependent upon private rented accommodation (either for income or for a roof over their head) is a bad thing.
My issue is very much with the system.
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