I need to know - do mortgage brokers get special deals from lenders because they buy so many mortgages?  In other words, can you get a better deal through a broker than you can get yourself from a lender?  Any comments welcome.  Thanks.

Fiona

An independant financial advisor generally knows where to find the better deals that we are not told about, bit like the well you didn't ask routine from benefits agency they don't offer up the information unless you ask.  I have just sold my house and was looking to get a £10k loan/mortgage to do building work on the new property and found I could get nothing under £25k from any society/bank etc but using an independant advisor things were very different, short term mortgage for £25k with no early payback penalties so that I could pay off the £15k I didn't want and not have to pay them more for lost revenue ie interest.

Hi, thanks for replying.  The thing is we dont really need anything out of the ordinary and our man wants to charge us almost £2,000!  I admit he will do all the legwork, but I feel I may have to save alot on my mortgage to make that worth it.  thanks again

Fiona

The Saturday Telegraph financial pages generally carries a chart of what each mortgage lender is offering at the moment with details of all extra charges, tie ins etc.  I think there may be web sites that help you sort out the best deal for your particular circumstances too, maybe someone will know of one.

Teletext on BBC2 page 250 I think; update their pages for the best motgage offers, including info on tie ins etc.
Might be worth a peep.

liberty :)

My uncles an independant  financial advisor and I know he doesnt charge the client so MUST take commision.
You need to find yourself a new FA!!!!!!!
Lea :)

I used an IFA to get my mortgage and the guy got me a good deal and also didnt charge because he got commission.  I believe they do now have to tell you how much comission they get too :)

Hi, thanks for all your replies.  I will be trying another Financial advisor I think now.  Trouble is we need some money quite quickly to pay for a car we have ordered (didn't really want to take out the manufacturers credit this time, but looks like that might be the best way for now until we sort the mortgage.)  Thanks again everyone.

Fiona

Try applying for an interest free credit card to put the car on...I juggled credit cards, kept changing the balance to a new one with an introductory free interest period...hardly paid any interest.....but you need to be disciplined! :)

That's a good idea Poppynurse, but the car is quite expensive.  Thanks,
Fiona

Hi, I work for a Building Society, a very small one that refuses to pay brokers or IFAs any commisssion or introductory fees. Because of this we find that very few place mortgages with us. This would lead me to believe that they don't necessarily go for the deal that is best for you, instead choosing the best deal for themselves.

If you just want a basic mortgage my advise is use the internet, get some quotes.