Before you take a DIY approach to your latest mortgage application, have a read of this cautionary tale (writes Howard Reuben, Principal, HCH Financial Services).
Cutting corners on fees can often lead to a much greater cost. One of my landlord clients accessed their lender’s app on their phone and asked me whether the suggested switch product being offered was a good deal or not.
‘Yes, but…the app is only offering six direct-to-consumer options.’
As a professional broker, HCH Financial Services can offer two further options from the same lender – and these products offer a much lower overall cost compared to the DIY range.
Using this real life example, my client showed me a 4.41% five-year fixed rate deal, totalling £41,084 over five years.
The broker portal options included a 4.26% five-year fixed rate deal totalling £39,898.80 over five years.
The difference (for the cost of a phone call) is a gross saving of £1,185.60.
We are a fee charging firm – however our standard product transfer mortgage advice fee is much lower than £1,185.60.
How big can your savings be when you trust HCH Financial Services?
For our portfolio clients, for who we are regularly remortgaging or product-switching 10, 20, or even 50+ mortgages at any one time, simply multiply the saving across the number of mortgages in your portfolio.
So, give us a try. We will check your options, including those provided by your existing lender, and we’ll check across the market to see just how much you can save.
HCH Financial Services provides access to the widest market, including all direct-to-consumer deals, and many more that are only available via brokers.
Get in touch with HCH Financial Services today:
Call: 0333 1234 536
Email: advice@hchfs.com
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