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Mortgage Matters Direct www.mortgagemattersdirect.co.uk
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Disgruntled1724's review of Mortgage Matters Direct www.mortgagemattersdirect.co.uk

“Avoid ”


written by Disgruntled1724 on 24/03/2014

We were looking for properties in Woodford, Essex. Douglas Allen (estate agents) said we could only get on their 'preferred buyer list' (i.e. be shown houses before posting on Rightmove) if we first met their mortgage advisor (from Mortgage Matters Direct). We met the advisor (Woodford Green / Barkingside office) who confirmed we were financially OK. We then put an offer on a house which was accepted.

We had other mortgage advisors who would work on the basis of mortgage commission only without a separate fee to us. We therefore asked Mortgage Matters to waive their £250 fee, otherwise we would use another provider. They refused - saying that if we used another broker unknown to Douglas Allen the sale would likely fall through as they would not be able to reassure the purchaser. They further announced that the neighbour was trying to buy the house (news to us and a real coincidence timing wise of course...). We were told the £250 should be seen as a fee to ensure a smooth purchase and that if we went with Mortgage Matters they would be able to play down any higher offers from other potential purchasers - clearly disservice to the vendor!

In the end (being left with little choice) we went with Mortgage Matters, and they got the job done effectively, but the initial exchange regarding fees was about as close to blackmail as you can get without overstepping the mark. It felt like the professional lines between Mortgage Matters Direct (acting for us) and Douglas Allan (as vendor's agent) were very much blurred.

I would suggest that you avoid Mortgage Matters.

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