Jump to content

Recommended Posts

Yes, ours was worth it and have now used him for about 15 years with remortgages, moving house etc. http://www.eastdulwichforum.co.uk/forum/read.php?30,1775047

His charge has varied over the years but he's alway up front about it (he has to legally I think). It's not just the cash but as SpringTime says it's also the hassle, when you're buying your first place you need someone to help take the hassle(s) away.

Ah this is interesting, thanks! I'd heard that some brokers have access to mortgage rates no otherwise available publically.


But then I also read articles on the internet (the source of all truth)suggesting going to a broker that doesn't charge a fee.......because they get paid also by the lenders?


Would this then mean that a broker who doesn't charge fees will have a more limited range of recommendations for mortgages as they are likely to be biased in favour of recommending a lender that they have an agreement with?


Or maybe I am totally misunderstanding this whole process?!

They will all charge a fee


Some brokers charge a straight fee which might be offset by the mortgage e.g. if you bought it direct the mortgage would cost your ?100,500 but if you bought it through broker it would cost ?100,000 + ?500 broker fee


Most have access to a system that searches mortgages, a bit like a comparison engine, I believe they don't get commission but they legally have to tell you how they get paid. I'm not sure of the limitations of their systems but I'd suggest you do a search with a comparison site* however they maybe limited as they are based on commission.


A good broker will tell you things like "if it's a buy to let mortgage get one with a mortgage arrangement fee, you can offset that charge as an expense". Of course this depends on your individual circumstances.


Recently I found my best mortgage online, then checked with my broker and he came back with the same one at the same price so I did it through him anyway.


*Always read https://www.moneysavingexpert.com/mortgages/

The other thing I found as a first time buyer and finding the whole process really stressful and confusing was that it was brilliant to have some one hand holding. Mine got me a great deal and charged no fee, he was upfront about the fee he got from the lender as an introduction. He's also been great at remortgage time too.
I didn't pay mine a fee either. I spoke to so many brokers - some who said I couldn't borrow a penny, and all of whom charged a fee. Then I found my lady and knew I could trust her immediately. She answered all my emails promptly, even ones which weren't about mortgages, but asking for general house-buying advice. I'm happy to pass on her details to anyone who's looking.
  • 3 weeks later...

Conveyancer might be cheaper but you'll get a better service with a solicitor (can only work for one side, must disclose any backhanders, probably has had more training/experience etc).


If you can get a recommended solicitor then go for them over a conveyancer, you might pay a few hundred quid more but it's worth it. I would recommend Glazer Delmar on North Cross Road, they're not the cheapest solicitors but they are very, very good. If your vendor on in the chain is using a crap conveyancer then a good solicitor can help.


I recently remortgaged and the mortgage company used Enact Conveyancing, they were utter rubbish and I even had to get compensation from them, the pointless delays they caused meant I was paying over the top on the mortgage. Do not use them, even though they might be cheap.


You may find your purchase goes though smoothly and you end up thinking, I could have saved ???? using online cheap conveyancer but it's a gamble but as a first time buyer I think a solicitor would be best. Speak to 2 or 3 local solicitors, get a feel for them, recommendations if you can and choose one.


These might be useful:

https://hoa.org.uk/2018/04/questions-ask-conveyancing-solicitor/ (a useful website for you and your questions :-) )

http://www.firsttimebuyermag.com/top-8-questions-first-time-buyers-ask-their-solicitor/

https://www.rightmove.co.uk/news/top-questions-homebuyers-ask-solicitor-buying-new-home

and good old Martin Lewis https://www.moneysavingexpert.com/mortgages/house-buying-guide

Yes, I'd go for proper solicitors over cheap conveyancers any day. Every transaction is different so the service will be different every time regardless as to the quality of your own reps - you can't choose your vendors' personalities, their onward agents or any other parties' solicitors who happen to be involved, and pretty much every property is different as well - so best to have the best people working for you to help things happen. Can't speak for everyone but I've had good experiences with several firms inside and outside of town - Bishop and Sewell, Glazer Delmar, Meaby and Co, Beverley Morris, Freedman Green Dhokia, Garner Canning, Irwin Mitchell in Birmingham, and many more I've forgotten. The prices vary. Avoid list available on request.
I would definitely go for a solicitor. People we bought from used a conveyance miles away. They were rubbish and it added loads of time and hassle. Have used my solicitor 5 times over the years and she does a proper job. When I'm spending that much, I find that extremely reassuring. I don't think it's something to skimp on.

Yep, it does seem a solicitor is the way to go and I?ve been recommended some good ones!


Now I?m deciding to go with a 2 year or 5 year fixed interest rate. Have been weighing up the pros and cons- there isn?t much difference in monthly repayments.


I know 2 years has been the norm but I?m reading a lot about how 5 year is now a better bet. Something about interests rates looking like they?ll rise over coming years? Possibly even related to Brexit.


Anyone have a view or good knowledge of this?


Thanks everyone for your ongoing suggestions on this!

If you're definitely going to stay in your house for the next 5 years, get the 5 year deal. If there's the possibility of moving out then consider the 2 year deal. You get more flexibility and more risk with a 2 but more stability with 5.


Unfortunately the perfect decision requires a crystal ball, so make an informed decision now based on what you know now. Don't put much weighting on your predictions of Brexit, elections, house prices etc to make that decision as no one knows what they will do and no one knows what effect they'll have on your mortgage repayments in 3/4/5 years.


Depending on the charge to get out of your 5 year mortgage early, it could still be cheaper to switch early - see here for an example https://www.moneysupermarket.com/money-made-easy/is-it-worth-paying-a-fee-to-get-out-of-your-mortgage/ but of course without that crystal ball you don't know what's going to be available in 3/4/5 years!


A good broker will clarify your mortgage fees and charges.

Ask your mortgage broker about the early redemption fees on the 5 year deal. In the unlikely event that mortgages get cheaper then if you have no redemption fee you can always switch.


Also work out exactly how much extra you'll pay for the 5-year fix and compare that to the extra cost of remortgaging in two years (e.g. arrangement fee, broker fee).


The unknown is what will interests rates be doing in 2-years, will you be able to remortgage at the same rate or will it be more expensive? I think the one certainty is that the base rate will rise (it can't really fall). My guess it will rise slowly and that if it rises by more than 0.5% there will be pressure for banks to not pass on the full rise. But that is just a guess.


Your mortgage broker should be setting this all out for you.

  • 3 months later...
I once worked with one of the conveyancing solicitors that I?ve come across on this comparison website. The rate that the solicitor provided to me was actually based on the particular situation I?m in. At that time, I needed help in choosing the right offer and accomplishing every step of the house buying process. Upon discussing these requirements, the solicitor gave me an estimated price for the services that I needed. Also, I was able to save some money from hiring a professional solicitor by having a fixed budget before even availing of their services. Setting a budget will prevent you from spending too much, so I highly recommend that you do that before anything else.
  • 2 weeks later...
I once worked with one of the conveyancing solicitors that I?ve come across on this comparison website: https://www.conveyancingindex.co.uk/conveyancing-solicitors/. The rate that the solicitor provided to me was actually based on the particular situation I?m in. At that time, I needed help in choosing the right offer and accomplishing every step of the house buying process. Upon discussing these requirements, the solicitor gave me an estimated price for the services that I needed. Also, I was able to save some money from hiring a professional solicitor by having a fixed budget before even availing of their services. Setting a budget will prevent you from spending too much, so I highly recommend that you do that before anything else.
I once worked with one of the conveyancing solicitors that I?ve come across on this comparison website: https://www.conveyancingindex.co.uk/conveyancing-solicitors/. The rate that the solicitor provided to me was actually based on the particular situation I?m in. At that time, I needed help in choosing the right offer and accomplishing every step of the house buying process. Upon discussing these requirements, the solicitor gave me an estimated price for the services that I needed. Also, I was able to save some money from hiring a professional solicitor by having a fixed budget before even availing of their services. Setting a budget will prevent you from spending too much, so I highly recommend that you do that before anything else.
  • 7 months later...

mariamenendez Wrote:

-------------------------------------------------------

> Hello - I'm looking for a mortgage broker, and saw

> your message on the east dulwich forum - is it

> possible for you to send me details of the broker

> you used?

> Many thanks

> Mel


PM'ed you Mel.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Latest Discussions

    • Where did I say he did a good job? Yup and Corbyn was very close to Len McCluskey and funded by Unite wasn't he...they're all as bad as each other... Labour have to purge their party of the far-left - they're a disaster. Allan Johnson summed it up so well on election night in 2019....  
    • Thank you for the detailed advise @trinidad It is definitely damage we are concerned about. I don’t think Evri would agree to pay the bill to fix our gate or letter box if they were to be damaged as a result of their delivery drivers helper. Our doorbell can be heard from outside when rung so we don’t quite believe the aggressive simultaneous door/letter box banging is necessary. It can be quite a shock it is done very aggressively.  I’ll definitely action the steps you’ve kindly provided along with a phone call tomorrow. I do sympathise with the role drivers have and how busy they are, which is why we tried communicating directly with her but sadly we haven’t succeeded 
    • What outcome would you like? Disciplinary action? Not to have the driver back? Retraining? I know there is alot of pressure on drivers to deliver within a set day. if he slams the gate, is it evidence he is causing damage, or is the noise a irritant to yourself? You could put a sign up or buy a signing asking to close the gate gentle???? can you hear the door bell from the door? he might be ringing, not hearing and therefore knocking. In trhe notes section of the be livery page, there is a note section, although there is not 100 per cent these notes would be read as these drivers are constantly rushing.  I did a google search for you, i found this and you can try the envri website Contact Us | Evri   To complain to Evri, you can follow these steps: Contact Customer Service: Call Evri's customer service at 0330 808 5456 for assistance with your complaint.    1 Write a Letter: Address your complaint to Capitol House, 1 Capitol Close, Morley, Leeds, West Yorkshire, LS27 0WH.    1 Use the Official Website: Visit the Evri complaints page on their official website for detailed instructions on how to submit a complaint.    2 Email or Call for Specific Issues: For issues like missing or damaged parcels, you can email or call 0800 988 8888, which is free to call.    1 These methods will help you effectively communicate your concerns to Evri.   My driver is called anthony, he is brilliant to be honest. I cant fault him.
    • When I have more time and energy, I will look up the actual number of votes cast for each party in that election, rather than the number of seats won. I'm interested to see that you apparently  think that  Boris Johnson did a good job of "leading the country through Covid." Is your memory really that short? I won't stoop to calling Johnson and his cronies names in the way that you seem to think is appropriate for left wing politicians. At least the left wing politicians have some semblance of morals and a concern for people who aren't in some over privileged inner circle and/or raking in money for themselves on the back of an epidemic. I'm not going to open a can of worms on here  by commenting on the disgraceful so called "purge". 
Home
Events
Sign In

Sign In



Or sign in with one of these services

Search
×
    Search In
×
×
  • Create New...