Home & Mortgage
I am just going to say this. Comparison sites don’t work for home loans. The “big bank switch” did not work either (unless you consider less than a 5% success rate good). The reason comparison sites do not work for mortgages is because you need to take into account individual’s circumstances when assessing mortgages. Most people do not qualify for whatever headline rate you might find on a comparison site. The reason most brokers don’t have some of the really cheap rates online is because less than 5% of people qualify for them. If you keep applying for loans that you do not have the credit ability to get you get “hits” on your credit which then counts against you for credit scoring for future loans.
It costs no extra to use a broker. It costs no more to use the best broker with thousands of products and lots of great headline offers wanting to help you. It simply does not make sense to waste time comparing options you don’t know if you have when it costs nothing more to get the best person to help you. Many people have got a better rate than they could have gotten from a comparison site and saved time. Since recent licensing changes Brokers now have to tell you in writing how they came by your rate and provide comparisons- so they do all the comparing amongst loans you are likely to qualify for.
If you want to know what headline rates brokers currently have then go here to my daily deals site, where every Monday is Mortgage Monday and the best headline rate at the moment offered to most good brokers will appear.