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- EGG Mortgage
- Guest.'s review
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| Value for Money | 8.7/10  |
|---|---|
| Overall rating | 7.7/10 |
By Guest. on 13th May 2008
| Product | Tracker |
|---|---|
| Repayment Method | Repayment |
| Value for money | 6/10 |
| Overall value | 3/10 |
 Guest.'s recommendation | |
Competitive rates
Take a long time to answer the phone
Have to have extremely high credit rating to get a mortgage
Takes 6 weeks to get mortgage approved
Egg can take a long time to answer the phone, on more than 3 occassions I have had to wait more than an hour to talk to someone.
Mortgage declined on the basis of credit assessment. Equifax (the company who provide the credit assessment) say that it is very difficult to get a credit score higher than what I have. It seems that they are trying to limit the number of mortgages that they give out (understandable in this market).
Recommendation: DO NOT BOTHER.
Reasons: What they offer is not the best rate out there and you probably will not to get the mortgage anyway. It will also impact your credit history if you apply and get declined (as it will appear as a search on your records and having too many can be bad). I was also told that it would take 6 weeks for the mortgage to be approved - other financial organisations can do this in less than a week if you want one quickly.
BTW there is an appeals process if you want to appeal a decision but they will probably tell you that there is not one (like they did with me). It wasn't until I insisted on knowing exactly why it was declined that they gave me the appeals address.
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