Requirement to use original broker for Top Up?

D

DoctorEvil

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I rang my mortgage provider with regards to getting a Top up on my mortgage and they said I would have to apply through the broker I originally used when taking out the mortgage.

I don't particularly want to use this broker so do I have any other options other than remortgage?
 
Unregistered said:
Why did you use a broker in the first place ?
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Well at the time - 8 years ago - I was a fairly green ftb and was pretty happy at the time having my hand held through the process.

The mortgage ended up having a penalty in it for being over 90% of the value although nothing was mentioned at the time and also his commission was added in without my prior knowledge so I am not too keen on using again.
 
This is why I never use a broker. They've all got their own agendas. You're always better off cutting out the middle man
 
DoctorEvil ,

Thats not on.Why dont you ring your mortgage provider back .....let them know if they do not let you deal with them direct you will be forced to take your business elsewere.

I used a broker first time round like you but didnt want to go back to them when getting a topup so i rang my lender direct and specified i wasnt happy using my broker ...it caused no hassle they sent me an application form with Direct client written all over it and i am sure they were more than happy not to pay out more commission to my broker.

Stand firm .

Good luck.
 
Why don't you say to them that you do not wish to use any broker at all, that you just want to top up and, if they are saying that that cannot be done, except through a broker would they put that in writing? I'm fairly certain that IFSRA would regard that as excessive.

Also I suppose, if they value your business, you could say that you can move your business if that is what they want. Sometimes I wonder though if any of the financial institutions actually do value any of our business.

Who is your lender?

mf
 
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