Daughter is now in the market for mortgage and buying her first house with her partner.
It is 30 years since I used a mortgage adviser.
The one she has been referred to , and whom a few friends have used and sing their praises, charges a flat fee for doing the fact find, search and arrangement of mortgage. Back in my day, this was a free service as they received their income through commission from the lenders.
Think the fee is around £400 ish.
Is this normal now for fees to be charges? I know things have changed hugely since my days in the Financial Services back in the days of SERPS and MIRAS!! :)
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If they're both salaried and have a deposit, I can't see a mortgage adviser is going to do much a few hours on the 'net won't....
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" I can't see a mortgage adviser is going to do much a few hours on the 'net won't.... "
Not so sure.
A relative did his research thoroughly on the net to get the 'best mortgage deal' and I urged him to ignore the recommendation of an estate agent to use his own in house broker. Well, eventually he did get in touch with the broker who got him a far better deal than he could find himself.
Apparently some brokers can get preferential deals with building societes / banks.
His best deal mortgage ended up with Halifax.
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Have always done it myself, but have had decent deposits which makes it easy to get the best deals with Loan-to-value under 60%.
My current mortgage is so cheap it's not worth paying off early or looking for a better deal: Base rate + 0.3% since around 2008 - the past 10 years base rate has been 0.25-0.75% and it looks unlikely to rise in the short-mid term.
Good old Scottish Widows
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Mortgage advisers - RichardW
