Mortgages..

[SUBBlue]

Got a re-mortgage coming up in a couple of months & am keen to secure a really good deal.

In my experience Mortgage advisors that are affiliated to bigger companies aren't worth a proverbial as they're constantly pushing certain products regardless of client interests.

It may be a contradicton in terms but can anyone, from experience, recommend a decent Southend/Rayleigh based Independent mortgage advisor who WON'T rip me off?!

 

[Smudger]

It may be a contradicton in terms but can anyone, from experience, recommend a decent Southend/Rayleigh based Independent mortgage advisor who WON'T rip me off?!

Yes - speak to Dave the Shrimper.

 

[Mad Cyril]

I'm currently remortgaging on a three year fixed deal with the option of overpaying by £500 a month.

Britania have a deal with no arrangement fee that suits my need.

 

[McNasty]

Yes - speak to Dave the Shrimper.

Is Dave still tied to the Abbey ?

 

[duncan bulgaria]

Place called Positive solutions in Hockley opposite the SPA are decent , ask for a guy called Clive , nice fella and no rip off merchant .

 

[Sean 2]

Buy What Mortgage and sort it out yourself.

We once drove to Manchester to see the Marsden BS because it was the last day of the offer and they needed the paperwork.
By heck as like.

 

[SUBBlue]

Thanks for the tips chaps, particularly to the helpful chap who PM'd me - green coming your way!

Will certainly check these out, thanks lads.

 

[BLUEBLOOD]

Thanks for the tips chaps, particularly to the helpful chap who PM'd me - green coming your way!

Will certainly check these out, thanks lads.

I'm reliably informed that the Halifax are offering the best deals at the moment Gary

 

[Pubey]

I'm reliably informed that the Halifax are offering the best deals at the moment Gary

I knew you were best mates! (closet scouser!)

 

[DTS]

Sub-Blue,

It really depens what your LTV is as to who is the best lender for you? LTV is the loan to value so if you house is worth £100k and you want a £50k loan then your LTV is 50%.

You can either do it yourself as suggested but personally (And I speak with a bit of Biase) having been a broker for a good few years why not speak to a broker. Its a bit of a old wives tale that brokers will fit you up as to be honest all the high street lenders pay almost identical broker fees anyway so personally when i was a broker it made no difference to me who you went with it the mortgage was prime (eg good credit).

The only time you could if you really wanted too make a real difference to your comission was the sub prime mortgages but I dont expect you are looking at one of those and if you are then its worse luck as that market is all but dead at the moment.

That said you have got to be a total mug to rip anyone off. Brokers live or die by your referrals to your mates and personally I made so much more by doing it the right way and getting repeat business than I ever could have by stealing a few £ here and there.

All brokers also have a license with the FSA and any hint of foul play and you wont work again in financial services which for all of us would mean a massive career uphaul. You do get some bad apples but 99% of brokers I know are honest and reliable.

Sadly I am not broking at the moment as I am selling investments etc but I hope to be in the next few months as I am thinking of going on my own. In the short term I think you have a few options.

Personally I would speak to a broker (make sure they dont charge a fee and lets be honest in the current climate business is sparse so they will be glad of your potential business). Any broker worth there salt will show you the top deals on there system and let you pick your own within reason.

The broker will do all the work for you. You get it done quicker than waiting for the often inexperienced branch staff to blunder through your mortgage and you dont have all the hassle of chasing the branch all day.

The only bank I would check along aside a broker is HSBC as they have some really good deals and the dont deal with Brokers so you may and I do say may be able to get a better deal there.

The other thing you could do is let your current deal expire and then do onto the standard variabl rate. I am 99% sure it will be less than you paying and it gives you a bit of time to review where you are. This is NOT a good long term plan as soon as the BOE/Libor rate goes up it will hit you in the pocket but I personally have done it for almost a year on three of my places and I am about £750-£800 month in profit so it can work well for the short term.

 

[BLUEBLOOD]

I knew you were best mates! (closet scouser!)

Whats the pic Jon ?? (can't see it at work)

 

[duncan bulgaria]

Can See the base rate staying put at 0.5 % till possibly June next year , that said there is talk that we could see rates heading towards 2 % by the end of 2010. so personally I have gone onto the SVR and will continue to do so till around April / May and then check out my options .

Having checked yesterday , all the best rates as DTS stated are if you have between 60-70 % LTVand Woolwich are offering the best , which unfortunatly I have not at the moment , with out that you are looking at a 2 and 3 year fix with HSBC of around 5.39 - 6.19 which is a little toppy IMO .

Just got to see how house prices fair in the coming months and also how competitive the Banks get with each other or if god forbid teh Goverment actually do something usefull and put some more pressure on the companies that we as Tax payers Bailed out to pass on the low Lending rate .

 

[DTS]

Can See the base rate staying put at 0.5 % till possibly June next year , that said there is talk that we could see rates heading towards 2 % by the end of 2010. so personally I have gone onto the SVR and will continue to do so till around April / May and then check out my options .

Having checked yesterday , all the best rates as DTS stated are if you have between 60-70 % LTVand Woolwich are offering the best , which unfortunatly I have not at the moment , with out that you are looking at a 2 and 3 year fix with HSBC of around 5.39 - 6.19 which is a little toppy IMO .

Just got to see how house prices fair in the coming months and also how competitive the Banks get with each other or if god forbid teh Goverment actually do something usefull and put some more pressure on the companies that we as Tax payers Bailed out to pass on the low Lending rate .

To be honest anything above 75% is a waste of time. Anyone above 85% is going to well to even get a deal with anyone.

The key thing is the swap rates which basically determine how cheaply the banks can get there funds and hence how much they can sell them onto us.

I think the BOE will come up again before too much longer which worries me a bit as I have three mortgages on the Standard Varable at the moment. All the signs are there that the country is turning the corner and back on the up again all be it slowly.

That said as Duncan says rates of 5.5 - 6% in the current climate arent going to tempt too many people in.

My hope is one of the big banks breaks ranks and starts to lend at slighly more sensible rates than are currently on offer. If they do I feel they could clean up.

 

[Ron Manager]

My hope is one of the big banks breaks ranks and starts to lend at slighly more sensible rates than are currently on offer. If they do I feel they could clean up.

But make a loss quite possibly?

I've been out of the UK mortgage market for over a year now, and the past 12 months is probably worth 10 years of change compared to normal, so my up to date knowledge isn't great. The deal over here though is that whilst the banks are fairly stable and economic crisis seems to have only been a blip in Australia with the economy on it's way back up there is pressure on us to get more in deposits to fund our lending. It's going back towards the old days of banks and building societies lending the money they got in deposits, with the cost of funds being so high on the global markets.

Would you say that's something you're seeing over there Dave?