help, want a better deal on the mortgage

[stargate]

1st mortgage, didn't have a clue got 5yr fixed rate repayment from my bank. 5yrs are up next month and want to shop around but not sure what the procedure is, where to go...

[SpringBunny]

Try London and country mortgages for advice then you can go to moneybackmortgages.com and get some of the commision yourself!

[BigGitDad]

SpringBunny you are out of order. If you want financial advice let the adviser earn from it. It costs them time and money to give advice.
Stargate, go here An IFA would be able to give you good advice, I would speak to a couple over the phone and get a feel for what they have to say.
Generally you will be looking at around five and a half per cent interest rate, maybe a bit more. Watch out for booking fees as well.

[SpringBunny]

It is suggested by money saving expert to do exactly what I said.

It doesn't cost £800 to seaach mortgages using a computer system, and that is the commission the L&C would have earned from a 5 min phone call - not good value in my book.

Moneyback mortgages share the commision and also give advise - much fairer system.

You may be able to throw away £400 but I certainly can't!

[BigGitDad]

No, I happen to be an Independant Financial Adviser who makes a living from giving advice to people. So why don't you be upfront when you speak to an adviser and say, yes I'd like you to advise me but by the way do it for nothing! See where that gets you. Do you do that in all other aspects of your life?
With regard to the commission, a good adviser will complete a comprehensive fact find before recommending a mortgage. Then they will do the research, complete the paperwork for you, then they will chase the mortgage company for you, then liase with your solicitor, and ensure any life assurance (which involves further advice) is also set up for you. Then they send you a letter explaning his/hers recommendations to you, to make sure you understand what you are doing.
Actually I think anyone who does that well is worth the commission they are paid. Thats why I get offended if someone wants to take an adviser for a ride which is what you are suggesting.

[EnormousChangesAtTheLastMinute]

i use london and country. it has occured to me to do it myself but wasn't sure how to go about it and didn't realise i could get some of commission! on the plus side, they do all the forms, sort solicitor, remind me when it's time to remortge and generally make it all v v quick and easy. as it took me around four weeks to call them back after their first reminder that i needed to remortgage again (life a bit mad at the moment) the fact they do everything prob made difference between decent deal and rubbish reverting to current lenders changeable rate so suited me this time round.