actually, the fundamental idea is probably not new as presumably brokers do this anyway -
"What is mortgagebundles.com?
mortgagebundles.com is a revolutionary new way of financing home-ownership. We bundle like-minded borrowers together and ask lenders to bid on this bundle of mortgage applications.
If you're looking for the best deal, and not simply the best headline rate - you've made the right choice. We look at the total cost of your mortgage. So there are no tricks or traps, and no nasty surprises in the small print. By combining your mortgage needs with those of other people looking for a similar deal, we put you in control and radically change the way you find your mortgage.
The mortgagebundles.com process allows you to cut through an increasingly cluttered mortgage market, where there are over 140 lenders offering more than 8000 products. We save you the hassle and the legwork involved in finding a mortgage by making the mortgage lender come to you. You get the most competitive deal available (with low rates and fees) - because the winning lender must have the lowest bid - and the mortgage lenders get a direct channel to new business.
So everyone wins."
and these are the bundling criteria -
Loan Size (£'s): *
Property Value (£'s): *
No. of Year of Loan: 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40Loan Type: Fixed 2 Years Fixed 3 Years Fixed 5 Years Tracker 2 Years Tracker 3 Years Tracker 5 Years Variable Rate
Mortgage Purpose: Mortgage Remortgage Buy-To-Let Rental Income PA (£'s): *
Mortgage Type: Repayment Interest Only Part Repayment Part Interest
Value to be Repaid: *
Amount to be interest only:
No. of Borrowers Single Joint
Employment Status: Employed Self-Employed Contractor Employed-Self-Cert Self-Employed-Self-Cert Unwaged
Do you have any of the following in the last 5 years: missed credit payments, CCJs, mortgage arrears, bankruptcy, repossession, or IVA?: