# Re-mortgage - Is it Worth Consulting a Mortgage Advisor?



## smegal (Aug 14, 2009)

I currently live with my Fiance in a house owned by her. We have agreed an amount for me to buy into the Mortgage. We are looking to buy out of her 95% mortgage with a high interest rate, and re-mortgage on a lower rate.

Complications with adding names to the mortgage etc aside. Our questions are:


Is a mortgage advisor able to tell us anything that we can't find easily?

Are they able to find deals that we aren't?

Are they worth their fee (£150-300)?

Any advice would be greatly appreciated as I am clueless on re-mortgaging.


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## empsburna (Apr 5, 2006)

Given your situation they might be in a position to advise on the best way to manipulate the market to make it cheaper/easier and they may offer you a decent product AND it not cost you.


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## NiallSD (May 21, 2013)

As long as they are fully independant and "whole of market" then yes I believe so. At the end of the day you could probably fumble your way through the process online and do it yourself...

... But leave it to the professionals to do it for you. Maybe find one through word of mouth or money advice service. 

In answer to your questions,
1) maybe depending upon the complexity of your case
2) depending upon what providers they use then yes they could well have enhanced deals, places like halifax tend to offer this bs going into one of their branches. 
3) in the long run yes, I believe so if they can get you a better deal then you'll probably get that money back by getting a good deal. 

My source: 4 years working as an IFA


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## smegal (Aug 14, 2009)

Thank you both for your replies. I'll start trying to find a good advisor. My main concern is being sold the best product for the advisor, not us. 

At the end of the day, if we know what is out there before speaking to an advisor, we should have some knowledge of the deals that they are offering.


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## NiallSD (May 21, 2013)

True. At the end of the day you have to be happy with any decision you make. It's quite easy to compare mtg's so he'll just advise on the cheapest for you circumstances eg loan to value and credit record etc usually.


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## Pip66 (Dec 17, 2014)

If it were me I'd do a bit of leg work myself.... Go in and ask a couple of Banks, building societies etc. So you've got a bit of an idea whats out there.
Your time costs you nothing and could save you in the long run.


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## Nanoman (Jan 17, 2009)

Give London and Country a bell, also check out MSE.

I'd say you're more likely to regret not seeking advice than seeking advice. Also, probably more likely to incur unnecessary expense if you don't seek advice.


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## smegal (Aug 14, 2009)

My worry was that we'd be getting pushed into deals that give the broker better commission as opposed to a better deal. 

We have found some pretty good deals online, I guess a broker would really come into their own if they can find a longer deal. 

It looks like we'll be speaking to a broker.


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## empsburna (Apr 5, 2006)

smegal said:


> Thank you both for your replies. I'll start trying to find a good advisor. My main concern is being sold the best product for the advisor, not us.
> 
> At the end of the day, if we know what is out there before speaking to an advisor, we should have some knowledge of the deals that they are offering.


I can put you in touch with a good one but may not be cost effective to visit as they are based in Birmingham.


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## Nanoman (Jan 17, 2009)

smegal said:


> My worry was that we'd be getting pushed into deals that give the broker better commission as opposed to a better deal.
> 
> We have found some pretty good deals online, I guess a broker would really come into their own if they can find a longer deal.
> 
> It looks like we'll be speaking to a broker.


'Longer' doesn't necessarily mean 'better'!


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## smegal (Aug 14, 2009)

Nanoman said:


> 'Longer' doesn't necessarily mean 'better'!


Sorry, by longer, I meant longer low price deal. Say 3 years at 2% as opposed to 2 with a similar fee.


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## Radish293 (Mar 16, 2012)

Best advice for free is............... get an Off Set Motgage. It's saved us a fortune.


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## Guitarjon (Jul 13, 2012)

From my experience of mortgage advisors they are worth every penny but you need one conpletely independent.

Myself, and the wife, were very happy with the outcome of our mortgage, we paid for the advice but feel we didn't know enough about what we were heading towards so left it completely in their hands. We didn't have a penny to pay until the keys were in our hands for the new house. I know it's different to uour situation but she openly showed us all the options on the screen and made various phone calls to try and better those deals etc.


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## smegal (Aug 14, 2009)

There seems to be a pretty good consensus here.

My concern (I am listening to the advice), is that will a broker really be able to find a better deal than this:

http://www.moneysupermarket.com/mor...2000&repaymentType=capitalandinterest&term=20

All of the fees are low and the rates seem pretty good. As you would imagine, I just want the best deal and the cynic in me distrusts these experts. That said, I trust the advice received on here so am considering approaching a broker.


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## Nanoman (Jan 17, 2009)

smegal said:


> There seems to be a pretty good consensus here.
> 
> My concern (I am listening to the advice), is that will a broker really be able to find a better deal than this:
> 
> ...


Lower than the high street? Yes, very likely.


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