Mortgagebundles.com. Anyone used this site?

[Jbck]

Basically looks like you put in your requirements,the site lumps you in with similar people & the lenders bid for your business.
If the blurb is to be believed you can get better deals than shopping on the high street. Saw this site in New Woman this month & in theory it looks ok but wondered if anyone had any experience of it.

I didn't realise they were still trading - there was a big thing about them a few years ago but the last I heard was that lenders were not that keen on the idea....

I can't quite believe that they would offer an outstanding deal though - bearing in mind the way it works (ie that the lender knows exactly how much they need to "sell" the money at compared with what they've "paid" for it), and the volumes involved particularly with the larger lenders,I can't believe that a relatively small pool of people could negotiate that much of a better rate, if that makes sense?

Perhaps it's not the mainstream lenders? Perhaps its non-high street IYSWIM?

Perhaps I ought to check out the website before saying anymore...!

OK, I've looked at the website now!

First impressions - they're registered with the FSA so that's a good start. They don't give advice on the products they're offering, it's entirely down to you to make the decisions.

It must have been a different company a few years ago, as this company was only set up in January this year.

I would say, it's probably got a place in the market, but you need to know what sort of mortgage you want and understand the full details of the KFI they will send you, in other words you've got to be a bit financially savvy.

What the site doesn't do is take into account any of the other circumstances which a financial advisor would - eg. lender's reputation for service and turnaround times, whether a different sort of mortgage would actually suit you better (eg a current account mortgage instead of an offset one), whether there's anything in your situation that particuar lenders don't like (eg time in job, deposit coming from an unusual source, shared ownership, etc) etc etc.

So, I guess I'm saying it depends on your circumstances. Personally I wouldn't - and I'm a mortgage broker!

hth!

Orinoco are you free or do you get a fee from the companies rather than the borrower. If so, I think we could do business !
I don't think I would necessarily use it if I were a first timer or had no clue what I wanted but if I was looking for something in particular I'd maybe see what they offered just out of interest.
We used a financial advisor when we bought our current house 6 years ago but there wasn't quite as much info about then like moneysaving expert, moneysupermarket type places to search for advice & ideas yourself. I'm someone who likes to research a lot first then get a professional opinion on what I've narrowed down to iyswim.
Might put our details in just to see what comes out of it as it's no obligation to follow through anyway. We've nothing unusual, steady jobs, good credit, 50% deposit from equity etc.
I know what you're saying though, surely there can't be that many people using it that the economies of scale would get phenomenal results. Nothing ventured though!

Sorry, my boss insists that we charge a fee!

But I'm happy to help out with any info that I can, if you need second opinions on anything!!

That's sweet O thanks.