Use a broker for switching?

mcstar7

Registered User
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Hi, I am going to switch from a variable to a fixed rate mortgage. I'm a newbie to this process. Is it worth using a broker at all? Or should I just use the comparison websites to find the best deal at the moment?
 
You should be able to manage this yourself.

Do your research, lay out in table format and if you wish post it here & ask for comments/ feedback.

I didn't find brokers useful myself, though others have.
 
There is no downside to using a broker.

“Hello, I’m a specialist who’ll handle all of this for you and you won’t have to pay me”

It’s not like hiring a professional to paint your house versus painting it yourself.

It’s like a professional painting your house and Dulux picking up the tab versus painting it yourself.
 
Do brokers deal with all banks or are they tied agents of some only?
 
Not all lenders used to deal with brokers, not sure if that is still the case but if the broker deals with all lenders on the market then it can make life a bit easier if you don't want to do the legwork yourself.
 
Would the brokers who don’t do fees be ok with a plan to switch several times? Or would it leave them having to sort out claw backs before the final mortgage provider? Or would they get sign on rewards and be winners too?
 
Would the brokers who don’t do fees be ok with a plan to switch several times? Or would it leave them having to sort out claw backs before the final mortgage provider? Or would they get sign on rewards and be winners too?
No i don't think they'll be ok you switching multiple times, I'm fairly sure if you switch away within a certain time period the bank claws back (some of) the fee they paid the broker. If that's what you're planning to do, don't use a broker.
 
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