Remortgaging - broker vs direct & BoE

[Fortune14]

Currently with Natwest, deal ends 31/12/25.
Best deal via London & Country is exactly the same one I am being offered via Natwest.

So with all things being equal, am I better going direct or via the broker.

Broker (obviously) say them, they can revisit rates a month before & change deals if better one available but surely I can do that myself also?

Going via broker seems to add layer of complexity ie emails/sending forms via a third party when if I go direct I click a box on the app & am done.

Its hard to know what to do as there is a rate review by BoE next week & also in November (December one would be too late for us as would be locked in by then due to timing)

I dont know what to do for the best!

If going with the same lender I don’t see the purpose of going via a broker

Ive Been looking at mortgages recently as we’re planning to move. Did research with a broker but usually I just go direct and do it myself. Anyway, in our case, as the mortgage is a straightforward one (not an odd house, usual build materials, not leasehold, no help to buy or shared ownership, no debt history) the broker deals were on par with those I could find myself. Will continue to do it direct myself as I find it far easier than having to chase for updates through a third party. Will likely go same current lender too as they’re offering the best deal.

You won't get any particular favours either way - but from experience L&C will chase you to buy life insurance etc through them and you'll save yourself that hassle as well as all the forms by just going with Natwest.

Like you say - you check the deals periodically and you can change if there's a better option

I nearly went with L&C last year - have to say they didn’t contact me a month before when rates did drop

on NatWest if you are staying with then and just changing on to a new deal you can change your product any time up to the month before - that’s what I did - just checked regularly on the app

FWIW I doubt there will be a rate change next week

I found First Direct really slow and bloody painful on the phone and L&C really quick.

Mortgage rates were adjusted last week for next week's BOE meeting. They went UP. So they are not expecting a rate drop. There are no BoE rate drops now predicted for 2025.

Budget is 26/11 and if the markets hear of punitive tax measures that bring down government debt, gilt bonds (government borrowing loan rates) may decrease, thus mortgage rates may go down. What happens with the BoE is secondary to the cost of gilt bonds - they are currently at a 27 year high.

I would get L and C to issue a mortgage then review it straight after 26/11.

L&C did not call me this time when the rate drop would save me 1k over 5 years but they did call me when it fell further to save me 2k over 5 years (all within 2 mths with the same lender).

I will never again endure the painful phone calls and slowness of a bank direct, unless current lender offer a brilliant rate and it's just a "yeah, fine" tick box.

L&C twice called to sell insurance. We ignored. We got an email. We ignored. Then radio silence. It is really easy to ignore.