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Any Mortgage brokers/advisors on here?

why does anyone need a mortgage broker? Can you not approach lenders directly?
 
JAA7 said:
why does anyone need a mortgage broker? Can you not approach lenders directly?
Click to expand...
In theory a broker should have access to all of the products on the market and can advise as to which lenders would consider your circumstances, that's the theory, after doing some digging, it seems this is not the case and the broker concerned only has access to a few lenders products to offer 🤷🏼‍♂️
 
Without judgement regarding facts of case, the letter reads as if coming from someone with narcissistic traits who overvalues his time and has just spat out the dummy.
When someone in financial services refers to,"trade union greed", the lack of self awareness, together with a one rule for them, different rules for me mentality, is confirmed.
Typical of a man who will seek 5 detailed quotations for a minor job and be aghast at any suggestion to compensate those who don't get the work.
 
After reading this email, I feel the broker’s message was rude and unprofessional. Even if there was a mix-up or disagreement, no client should be spoken to in such a harsh or disrespectful way. The tone sounds more like an attack than a calm business reply. Talking about things like “mortgage fraud” and “CIFA markers” feels like he was trying to scare, not help. A good professional should explain things politely and stay respectful, even when there’s a problem.

regards,
Cubic financial Services - mortgage broker.
 
Tone - poor.
Advice and warnings - excellent.

The lunch reference is unfortunate but the letter is mostly facts.

I note "The path you now choose". It looks a kinda dubious path to me if NW kick up rough.

The bearer of bad news seldom gets a welcome.

Using a broker, you must consider if the labourer is worth his fee, saving you time and money in while you try and fail to seek out the best possible and available deal yourself.
Many of have looked at goods in a shop and then bought cheaper online, and just like this broker, the shops dislike that practice.
 
Don't forget a mortgage broker has bought that credential/license and is basically a sales person after commission - possibly to pay back the loan they took out for that.

Their cause is NOT yours.

Their goal is commission. They don't care if you go under after a few years, they've been paid.

Bear that in mind when you're deciding which 'product' to buy and from whom.

For instance a broker will want you to take the maximum mortgage he can sell you. It's arguably far better to take something which gives you headroom to pay off capital early. That, if focused on, can see equity in a property build up really quickly (like in 4-5 years).

A electronics engineer and a nurse cleared £15k of negative equity paying off early, built up £20k positive equity, bought a new house in 1997 at a lower mortgage than we were advised 'we could afford' and cleared that mortgage in 2001. To be fair, three kids under 5 does restrict one's ability to go anywhere and spend money, but still.

That's the 'don't want to don't have to, can't make me' point right there.

That strategy reduces the broker's commission though...

See how that works?
 
williamcubic said:
After reading this email, I feel the broker’s message was rude and unprofessional. Even if there was a mix-up or disagreement, no client should be spoken to in such a harsh or disrespectful way. The tone sounds more like an attack than a calm business reply. Talking about things like “mortgage fraud” and “CIFA markers” feels like he was trying to scare, not help. A good professional should explain things politely and stay respectful, even when there’s a problem.

regards,
Cubic financial Services - mortgage broker.
Click to expand...
:unsure::unsure::unsure:
 
Randomone said:
My opinion is that, irregardless of how factual the details may or may not be, that's a thoroughly unprofessional communication due to it being inflated by pomposity, hectoring in tone and made ridiculous by the smug Mr Big Timer attitude. Blokes a twat.
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Completely agree. A conceited ass with delusions of grandeur.
 
What an absolute bellend I'm made up she bailed on him. Why is he so upset about losing a client that he states was barely worth taking on? Why is he discussing the difficulties faced by small businesses in the current climate over a lunch at an independent chef's restaurant in Mayfair? It'd be nice to see a follow up on this and see his business ended up in the shitter not long after, the prick.
 
As it's been resurrected, I thought I'd add a few details, Nat West gave my sister the mortgage, she didnt qualify as a first time buyer, but did get the same discounted rate because she banks with Nat West and it was classified as 'new business', it strikes me that various tools are available to the mortgage adviser to create a competitive rate by giving it a different title to suit the circumstances.
Net result is my sister now "owns her own home" , with an affordable mortgage for an acceptable term so a happy outcome.
😁👍
 
Mark Palmer said:
it strikes me that various tools are available to the mortgage adviser to create a competitive rate by giving it a different title to suit the circumstances.
Net result is my sister now "owns her own home" , with an affordable mortgage for an acceptable term so a happy outcome.
😁👍
Click to expand...
Speaking of various tools what became of the one who penned the childish email?
 
Mark Palmer said:
As it's been resurrected, I thought I'd add a few details, Nat West gave my sister the mortgage, she didnt qualify as a first time buyer, but did get the same discounted rate because she banks with Nat West and it was classified as 'new business', it strikes me that various tools are available to the mortgage adviser to create a competitive rate by giving it a different title to suit the circumstances.
Net result is my sister now "owns her own home" , with an affordable mortgage for an acceptable term so a happy outcome.
😁👍
Click to expand...
Great news!
Adviser still an arse though😁
 
williamcubic said:
After reading this email, I feel the broker’s message was rude and unprofessional. Even if there was a mix-up or disagreement, no client should be spoken to in such a harsh or disrespectful way. The tone sounds more like an attack than a calm business reply. Talking about things like “mortgage fraud” and “CIFA markers” feels like he was trying to scare, not help. A good professional should explain things politely and stay respectful, even when there’s a problem.

regards,
Cubic financial Services - mortgage broker.
Click to expand...
 
Unfortunately we don't know the full facts about this with just one email.
But one cautionary word don't rock the boat unless you well strapped in regarding the FTB, as why would he bring that up if your sister did in fact previously own a property as he's implying, or was that a property without a mortgage or loan
 
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