Hi,
We are in the early stages of re-mortgaging due to potentially moving house. I checked the best deals for our LTV via comparison sites and lined up a few appointments, one of which was with Nottm Building Society.
When we arrived at The Nottm the chap explained he was an independent mortgage advisor, who has access to most of the market (not just Nottm BS) and can help us to apply for and agree any mortgage deal available. My first reaction was to ask for his 'fee', but he said it is all absolutely free. His salary is paid by The Nottm, who in return receive a small finders fee from whichever bank's product they sell to us.
It's left me wondering - what's the catch?!
I appreciate he doesn't have access to every product but having checked extensively myself I can't see any glaring omissions.
Why doesn't every home buyer do this if that's the case?
Thanks.
We are in the early stages of re-mortgaging due to potentially moving house. I checked the best deals for our LTV via comparison sites and lined up a few appointments, one of which was with Nottm Building Society.
When we arrived at The Nottm the chap explained he was an independent mortgage advisor, who has access to most of the market (not just Nottm BS) and can help us to apply for and agree any mortgage deal available. My first reaction was to ask for his 'fee', but he said it is all absolutely free. His salary is paid by The Nottm, who in return receive a small finders fee from whichever bank's product they sell to us.
It's left me wondering - what's the catch?!
I appreciate he doesn't have access to every product but having checked extensively myself I can't see any glaring omissions.
Why doesn't every home buyer do this if that's the case?
Thanks.