Would like to know how good they are,reliable,are they efficent etc??
2007-09-19 05:30:40 · 2 answers · asked by sassy999 1 in Business & Finance ➔ Personal Finance
there are many reputable companies to use..many online lenders...and banks around your corner...and large broker firms
2007-09-19 05:45:19 · answer #1 · answered by Anonymous · 0⤊ 1⤋
They (like hundreds of others) are 'middle men' .. they take your money to 'arrange' the Mortgage on your behalf ..
If you are so rich you can afford to pay middle-men £200+ per hour to work for you, well good luck to you.
The rest of us have to spend hours tracking down real Mortgage offers from real Banks and real Building Societies .. after which we will have learnt a lot about Booking Fees, Application Fees, Valuation Fees and Legal fees.
We will also have discovered the difference between Repayment, Interest Only and Endowment Mortgages. and compared Fixed Rate, Variable rate (includingTrakers), Introductory Rates, 2 and 3 Year 'special offers' and Easy Start schemes . .. and we may even have decided that, on balance, an Offset Account is best.
You, on the other hand, will just be landed with a nice new Mortgage at XX% more than the market rate (the one that pays the middle-man the most comission) and when you see your first Mortgage statement at the end of the year you may wonder why you still owe £210,000 on a Mortgage for £200,000 (yes, all your payments plus the other £10,000 will have gone in Fees and Expenses & Commissions etc. to the 'middle man')
After 25 years or less we will have paid off our Mortgage and owe nothing .. whilst you will still be wondering why you owe £210,000 (yep - they will have stuck you with an Interest Only or Endowment loan that looks so cheap 'per month' but never actually pays off the loan )
2007-09-20 05:02:17 · answer #2 · answered by Steve B 7 · 1⤊ 0⤋