Contractor Money - www.contractormoney.com
Value For Money
Contractor Money - www.contractormoney.com
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User Reviews
Value For Money
Poor Service
No Broker Fees saves you £500. That's what initially enticed me to use there mortgage broker services. And that's when all my problems started. I initially found them by googling "contractor mortgages" and found them on a site called Contractor UK, so I thought it would be ok to use them, right. I was so wrong.
It was around May 2014 when I contacted them. Initially they said they could get me an agreement in principle from Halifax in 48 hours, two weeks after still no agreement. Every time I called them my adviser was too busy or on the phone. I was always promised a callback but no one got back to me. I even made a complaint to Contractor UK who was promoting there services and also on Contractor UK forum. At that point the MD got involved and it looked like something would happen. Probably because Contractor UK saw my complaints on the forum and put pressure on Contractor Monry to assist me. At every stage they had an excuse for there poor service, due to MMR, Halifax changing their systems, Halifax having a back log, etc,etc. yes they didn't charge me a broker fee, but I wish I had gone with some of the other mortgage specialist that did charge me a fee. It took me nearly 3 months to get my mortgage offer, whilst my colleagues who had gone with other brokers who had taken them to Halifax got theirs in 4 weeks.
Next time I'll select a Contractor Mortgage Specialist that charges a fee and provides a service. It's just not worth trying to save a few quid and then going through a nightmare.
Avoid these guys like the plague!
Value For Money
No Mortgage Fee! (apart From That Hidden Fee)
I recently starting contracting and have for the last few months tried to re-mortgage. I say 'try' as I'm with Santander - they are totally inept, and so tried to move over to halifax. They were even more feckless than I can believe (read my separate review!), so tried this company 'ContractorMoney.com'.
After being told by representative that there would be 'NO charges', and the website stating the same I went ahead. Strangely the mortgage deal he arranged was with Halifax?!??
Anyway the details came through, and on the email he clearly put 'fee free', however on the written quote the word 'Fee' was clearly visible!
A fee of £265 no less. There are/were no fees on my initial mortgage, so this can only be a fee for using this companys service!
When I brought this point to his attention, he did NOT respond to any of my emails; he refused to continue the conversation!! I have not heard from him since (at least a month).
This refusal to admit that the product / service isn't as claimed, or even to end the conversation in a dignified manner is, in my opinion extremely rude and downright disgusting.
Dear Contractormoney, you are rude, incompetent and have no idea of the concept of customer service, or what the word 'fee' means.
Contractors, AVOID like the plague!
Santander! And that was another descent into the depths of ineptitude!
Seriously, anyone now needing a mortgage should get the money from their family!
Hi Sicko _Anti-Service's,
You're certainly not losing your mind. I first heard about Contractor Money on Contractor UK forum. They had mixed reviews. Some contractors said that they were pleased with the service they received (although they were a few years ago). The more recent reviews are similar complaints to mine. Unfortunately, I didn't see the later reviews until I used them and did some more digging around.
I left a complaint on the contractor UK forum and the moderator removed my comment. I realised after that they also advertise on Contractor UK, so I didn't surprise me that my comments were removed. Shocking really. Where did you get your mortgage finally?
Hi ZeroService,
sorry to hear your tale of woe. At least I'm not losing my mind -these imbeciles really do exist as a 'business'.
And we've learnt to steer clear of them and warn others in the process - all good.
Your not the only one that's been through this experience with Contractor Money, I also experienced a very poor service from them. They didn't even respond to my emails. It's not about the fee, I'd pay £500 any day to get a good service and mortgage offered. I was tempted to go with them because they state that they save you a £500 broker fee. That's the last time I'm going with a fees free mortgage broker. There's a reason they don't charge a fee, they're useless. If they charged a fee no one would even use them. In the end I used a professional mortgage broker that charged me £499 broker fee and got a brilliant service.
Thank you for coming back to me. I can assure you that I do genuinely want to help but I obviously dont yet know your name and contact details as I can only see your username 'sickov-anti-service'.
Please contact me so that we can help you find a remortgage to suit your needs.
Re the lack of any mention of a fee on contacting the Halifax direct, this may simply be down to them not disclosing it to you at that early stage. As per my earlier post, this fee applies to ALL Halifax mortgages and would have been disclosed at some later stage whereas we may have been cast in a bad light simply because we endevour to be completely transparent from outset when advising our clients.
Q&A
I'm seriously struggling to remortgage my home right now. I've reached the end of my 5 year fix rate with Virgin (formally Northern Rock) and the won't give me a new rate because I can't provide 2 years audited accounts. I switched from permanent employment to contracting 8 months ago. My mortgage payments have doubled as I'm now on their Standard Variable Rate.
Contractor Money claim that they can arrange a mortgage with a specialist lender called Kensington. I've never even heard of this lender. I don't seem to have any other options. Judging from the reviews on Contractor Money, I'm concerned whether they're the right company to appoint. Has anyone else in my position been successful with Contractor Money or any other broker? I'm happy to pay a broker fee.