Mortgage adviser

11
Found 8th Aug 2017
Our mortgage deal is coming to an end with the Nationwide. We are meeting with them to see what they can offer. Would it be a good idea / worth it to contact an independent mortgage adviser also? TIA
J
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It would be well worthwhile checking your key facts document you should have got when you took the mortgage out to see what rate it will revert to once your deal has ended. It may be best for you to simply let it run out and then default to whatever it says, probably base rate + a %
Yes it would be a very good idea!
Don't just look at what your mortgage will cost you per month. A lot of Mortgage Advices will save you money per month but they add the mortgage/booking fee onto what you borrow.
Example
If you're saving £45 per month for the next 2 years, you'll save £1,080
but if they charge a £999 booking fee then you're only saving £81 over 2 years.

Have a look on a comparison site for an idea on what is available out there and see if Nationwide can get close to it. It's very likely that they will have deals that won't cost you a booking fee as you're already with them.

Good Luck
Thanks guys, some good advice there. I will see what the Nationwide can offer us first. Then I need to make a decision about an endowment policy that's not performing at all.
Mortgage advisers don't work for free and I think they are only necessary in certain circumstances e.g. if you are self-employed or have a bad debt history. These days it is just as easy to hunt around on the comparison sites as said. As it's a re-mortgage hopefully you will have a useful LTV which would enable you to pick and choose. I found the Nationwide competitive when I was with them - they are still a mutual BS and so don't have to pay shareholders.
You won't get anything more then is offered online so you may as well do it yourself and Nationwide will pay you £100
make sure you are privvy of the recent first direct and HSBC deals too. i stayed with Nationwide a second time paying base rate plus a %age, and it does save hassle as they know your circumstances etc.... just gotta do the working out to see if the cost of changing, if at all, is worth it too. good luck. i have always done it myself after shopping around and researching. im not saying that an independant isnt worth it, but i have never found the need for one.
Yeah, it's not going to cost you anything, you don't have to take anything they offer, so you've got nothing to loose.
Put it this way, when your car insurance comes up for renewal, you don't just auto renew do you? You compare the market or similar.
They're only useful if you have no time to look for yourself and want to pay them £500 to do it for you.
Yes I feel pretty confident to do it myself actually, already had a look on comparison site (Money Saving Expert site), but once I speak with the Nationwide I will know a bit more, then I can compare what's on offer. Thanks again to everyone
J
I personally found it invaluable to engage a mortgage adviser, because they had a modeller which made sense of all the different options/implications etc. I was able to chat through the long-term implications of the various stochastic models for interest rates and assess my own personal views on the short to medium long-term economic prospects for the UK and how any changes might affect my mortgage options.

Also, they said upfront that if they recommend to stay with the Nationwide - which they probably would - then their proposal would be for their fee to be £250, which I could fund from the cashback I got if I ended up renewing with Nationwide. I was OK with this - I didn't want the hassle of weeks/months of personal research, and I ended up saving c£50 a month on my mortgage as well as having a deal which means I'm not hit with any exit fees should I move house.
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