Mortgage advice/experience
- Start date
-
- Tags
- Mortgage Threads
New to Tattle Life? Click "Order Thread by Most Liked Posts" button below to get an idea of what the site is about:
I have spoken to a free one, but unfortunately they don't have the product that will enable me to get the mortgage.
It's a high street bank. The mortgage advisor is £500, which I think is pretty standard? Then the cost of the product in £1,000. Just would be nice to save that £500, but if mortgage advisors give better rates than going direct it's obviously more worth it. So wanted to see what people thought/their experience.
My mortgage advisor was £150. They get some money from the lender as well. Well worth the money as it takes all the stress out of it and you know you’re getting a good deal.
Not sure I’d pay £500 though.
Not sure I’d pay £500 though.
£500 is a lot. Any who actually charge that I've encountered were under 200.
Try y-not finance. I can recommend Paul. He's absolutely fantastic
I used an independent mortgage advisor for my first house purchase and he got commission from the lender and I paid £225 out of pocket. It was worth all that (and more imo!) because if took all the stress out of the process. I’ll be going back there when my remortgage is due.Oh wow, ok - I thought that was the standard. I'll have a look and see if I can find anyone cheaper.
Thanks everyone
I’ve never paid for a mortgage advisor. You need a whole of market one. And as others have said it’s definitely worth speaking to one early on so you can manage your expectations. Lenders are now offering less as they’re banking on rates going up so want to know you can still afford your payments if the rates went up significantly (can’t remember the %) and being very cautious. Depending on your occupation there’s a new mortgage available which lets you have 7 times your salary but you’re on a fixed rate for the whole term of the mortgage, so definitely worth seeing what’s out there
I paid £250 for my mortgage advisor, they also get £350 from my lender. I was a little annoyed about it and think if I’d sounded more serious about walking away I could have got the fee removed. In all fairness the process was quick and easy and he got me a decent rate with a high street lender, which I didn’t think was possible after previously having adverse credit.
It shouldn't do, as you'd still undergo the same hard credit searches upon application through an advisor vs direct. Just remember - the rate you're initially shown on discussion with an advisor/direct with the bank may not be what you're actually offered after your full application has been done. For example, I applied direct with Lloyds for a 95% mortgage, which is what the in-house advisor recommended me, but when my full application went through they would only offer me 85% LTV. I went with an advisor after that and applied elsewhere and managed to get a 95% LTV through Skipton.Thanks everyone
Does the rate differ from the advisor vs if you were to go direct to the high-street lender?
Oh yeah, that’s a very good point. Thanks for the advice everyone!
If it’s any help, I bought a property on my own. I went through an independent mortgage adviser who looks at whole of market, they are usually paid by the banks so they want to get you the best deal. The mortgage adviser at the banks are useless. Funny enough the mortgage he got me was with my own bank and it was more than they’re offered to lend me. I had a good deposit so lower LTV ratio. But he got me more than 4.5x salary which helped. But one thing to absolutely do, is get rid of any debt and make sure your credit score is tip top. Good luck 
My mortgage adviser is 499.
But she is worth every penny. Great rates I couldn't get elsewhere and helped with chasing the bank and solicitors up when the sale was stagnating.
Try first direct. Fantastic customer service and they win lots of awards. Free mortgage advisers who are fully qualified. Plus unlimited overpayments. Free standard valuation. Open 7 days a week. Really great to.deal with. Usually lend.4.75 x salary
I can second this. No wait times for customer service. Mortgage side of thing was very smooth and fast. You can fill in most details online. Gave us the best rate and we didn't even use a mortgage adviser given my bf used to work as one.
When is the best time to look for a new mortgage after my current one runs out I've read 3-6 months? Is it also worth getting a mortgage advisor for a renewal? My current deal runs out March 2027 so I'm thinking end of 2026 I'll have to start to look?
Your lender should contact you well in advance, but yes 6 months out to start having a look at deals. Check if you are able to move to a new fixed term online with your present lender, and if that deal is competitive.
Look at mortgage best buys online (Martin Lewis' MSE website is helpful for this) and remember to factor in if there is a product arrangement fee, what might look like a cheaper deal in terms of interest rate might have an overall higher cost once you've factored in a £1495 arrangement fee.
Last time I renewed (and changed providers), I looked at MSE best buys table and top was a High Street bank I had a savings account with, so it was pretty straightforward, didn't need a mortgage advisor - leave at least 12 weeks to get it arranged, though.
Great thanks it's the first time I'll have to do it. I'll be sad to lose my 2.17%
at least it's going down and I'm hoping it'll go down further by the time I'm looking 
I’m only on 1.19% at the moment so dreading having to remortgage! I’ve got another year before I need to think about looking so also hoping rates go down a bitGreat thanks it's the first time I'll have to do it. I'll be sad to lose my 2.17%
