Using agents mortgage broker?

[Nstarr]

Hi,

I have often heard to avoid the estate agent's broker. Any particular reason why?

Also, should we be talking to more than one broker? We have found one we like, recommended. Just need to check it's the right decision.

I work for a broker- we would expect people to talk to a couple and go with who they prefer.
The broker should be whole of market and there is no need for you to pay a fee for their services.

We went with our agents broker thinking it might speed things up.
This was a mistake because he was hugely incompetent- had to chase and chase and chase and CHASE for anything and he nearly cost us the sale at the final furlong by having failed to submit some paperwork. Noticed by our solicitor on exchange day.
I’m not saying this is because he was attached to the agent, he was just terrible in general but I’m sure if we’d looked about a bit and gone off trusted recommendations we would have avoided this. But we didn’t because we literally went with him because he was linked to agent and we stupidly thought this would mean better/speedier communication.

I'd always have one not connected with the HA. You have to tell your broker lots of things about your financial situation, and if they leak to their HA mates (which of course they ought not to, but.....) you could lose negotiating leverage. (If they think you can afford more money, they may try to get it out of you, basically).

I'd prefer someone independent that works for me, not for the agent. No fee should be involved - they get it from the mortgage provider. They should be able to explain things clearly (so you understand them) and provide several alternatives.