True. But you can use one that you pay a fee to, if you prefer. And they are definitely more independent than the one that your bank or estate agent employs, and can help you find a better deal in less time than you can yourself (I’ll just assume you don’t have the time or knowledge to compare 100s of lenders). As they are typically paid a commission based on your application being successful, they’ll also be helpful in completing your application.
2 Likes
It is likely and did happen to me for first direct mortgage applicstion. I had to in the end go to nationwide and ask for my last three last statements before I had closed the account…
1 Like
While we are on the topics of mortgages. I’ve seen a lot of ‘digital-only’ brokers popping up recently (Habito, Trussle etc). Anybody had any experience with using this type of broker? 
1 Like
To add to that list:
Is there a way to download an official bank statement with Monzo yet?
Any mortgage lender is going to ask for this as one of their first requirements. It’s needed to prove income (match payslips to lodgements) and ascertain affordability (your expenses are proportionate to your income).
I’d be very reluctant to use Monzo (or any bank!) unless they can provide you with those statements as, without them, you’ve very little chance of being accepted for a mortgage anywhere.
1 Like
I believe that providing statements is a (legal?) requirement with a current account. It’s definitely been worked on at some point. The last word from Monzo on this was the beginning of September, but we are still waiting on an update from @Sam (hint, hint 
):
1 Like
I tired habito but the best they brokered wasn’t good enough from what I could see on the market.
Through my own research I found First Direct the best but surprisingly, Atom bank was second.
First direct mortgage has cost me nothing so far. No fee and wavied the valuation fee because I’d valued my property under their own online valuation. Waiting for an offer letter now (I hope!)
1 Like
Do you mean it’s foolish to pay someone to deliver a service? If so I guess all our employers are fools as well as they’re paying us paychecks in exchange for our work.
Oh, good to know - thanks. Got all this to come the end of next year hopefully! 
This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.