Best Mortgage Advisors

[Nighteyes]

The title covers it all really.......After much badgering from Ann & Jon I've decided to go see a mortgage advisor to see what my options are. However as I'm a big moving out virgin I've no idea who to see??

So, any recommendations.......Company? Independant? Or are they all pretty much the same???

Please plant your life knowledge on me

Thx!

Helen
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[msgander]

Tricky one, as a possible first time buyer all mortgage lenders will be pleased to see you

I started out on my own many moons ago with Abbey National and along the way had my ups and down and throughout they were pretty good to be honest, not saying the cheapest but when things hit shit bottom they didnt bin me out!
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[swampy]

If you go and see the mortgage advisor at your local bank, they will obviously try to sell you their mortgages. If you want the best mortgage for you, then see an independent (these may charge you for their time). However, some independents get introduction fees from mortgage companies, and therefore how 'independent' they can be remains questionable. Do your homework before you go. Do you want an endowment mortgage (no !) or a repayment. Have you got a deposit ? or do you need to borrow the whole amount. ? How much can you afford to pay a month. These are all questions you need to gen up on before you go. HTH
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[nrml76]

Go to an independant adviser. They will search the entire market for suitable plans, unlike banks and building societies. Most will not charge, as they are paid by the mortgage company if the deal goes through.

[karen_moomin]

I used an indepenant financial advisor who happened to be based at the estate agent I bought my house from. She was good, her name was Avril Leatham and she works for Austerberry Estate Agents (based in Longton now I think). I can't remember if I paid a fee or if she was commission based (or both) to be honest.

Also I was actually buying rather than seeing what my options were, so I'm not sure if you could go to the likes of Avril without having a property you're trying to get a mortgage on (could be wrong but unless there's a fee involved, what's in it for her?)

Something to consider taking with you when you find someone, is a budget plan. My mortgage advisor wanted to know that I knew what I was taking on and that I had thought about everything before she found me a mortgage.

Also it's important to have an idea of what you want...ie. I wanted to know exactly what I would be paying each month for the next 3 years (I like certainty) whereas you might want to take a risk and go for something linked to the Bank of England's rates (probably cheaper some months but not as certain).

[syl]

[Annabella]

Another idea is to go and have a chat to a housing advisor at one of the Housing Authorities.

Give Beth Johnson a call and see if they have any new developments. They often build new houses and offer them as part buy for first time buyers (particularly single residents).


Beth Johnson:
01782 219200

or Aspire Housing:
01782 635200
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[dainesefreak]

FA's generally work as IFA's (independent) or tied FA's (tied to a particular company) and I would say that for one reason or another they are never really unbiased. If you want to go and see one then an IFA will have a greater range of products on offer as they aren't legally bound to one company's products. They will however get finders fees and more commission from a particular company so will generally have a vested interest.

As has been said, it's worth doing some research for yourself. There are plenty of sources of info and mortgage comparisons around on the web. Look for arrangement fees, tie ins, etc. Decide whether you want a fixed rate and for how long or if you want to go discounted. Fixed rate mortgages tend to have a higher interest rate and a booking fee, discounted, tracker, etc vary with the base rate. It's all fairly convoluted but it's worth doing some finding out then going to see who you think has the best deal and sounding them out.

MSN Money Central

Money Supermarket

Plenty more about.

Good luck

[Dragonfly]

watch out for first national! my solicator once called them the most incompatent people he ever dealt with. they loose everything including the deeds to my house and they where near 150 years old and i really wanted to see them to. they dont record when you call and you get in trouble cause no one knows what everyones doing. also my mortgage rate was stupidly high compaired to my neighbours at the time.
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[nrml76]

Try https://mortgages.charcolonline.co.uk/ It is possibly the best established online mortgage website.

[Nighteyes]

Thanks peeps!
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[Flip]

Oooo grown up stuff. *Runs off and hides*

[feef]

Normally, I'd suggest an Independant advisor (IFA) over one of the estate agent's own people..

however.

When I bought my current place, the estate agent girl (Connels estate agents) was VERY good, and got me a Much better and safer mortgage than the IFA I'd been speaking to, who said that for a 4.5 salary multiplier, I was better off on a self-cert mortgage. the Connels girl got me a decent, low fixed rate mortgage with the RBoS, and had the RBoS rep on the phone with us at 6:30 in the evening, checking the finer points of what I'd need to qualify, to make sure there were as few possible problems as possible.

so, it all comes down to luck really.. I've had good IFAs and a poor IFAs (all were on recommmendations too).

It IS better if you can find one with an office, where you can sit down an talke to them face to face. I even prefer this to having them visit you at home.

a
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