Future mortgage company, has any body else had problems with them?
I have never dealt with such a company before they are under handed and watch out or the small print.their mortgages have a redemption fee for the full term 25yrs of the mortgage but they dont tell you this .i am now taking them to the financial ombudsman ..is it me or has someone else been conned by this firm ..oh and the brookers who sell you their products make about £4000 for signing you up......
Answer
I can only assume that you had limited choice as to what mortgage company you went with due to a poor credit rating and therefore any mortgage that you would have been offered would have had a redemption fee as someone with a poor credit rating is classed as high risk. if your credit was ok then you wouldnt have needed to use a broker and could have used a high street mortgage lender like the halifax or abbey. by the way on high risk poor credit cases there is more work involved for the broker and it makes more sense for the fee to come from the lender instead of charging the customer more.
