Mortgage Brokers

[Live by the sea]

Agree with the first answer. Only thing to add and quite important, only use a whole of market broker. Most of the large corporate estate agents, i.e. Fox and sons , king and chasemore, cubit and west, use tied brokers so they won't necessarily be offering you the best deal. Personally where possible I would from my experience avoid all corporate agents and try to buy and sell through well regarded local independent ones. You usually get a much better tailored service.

 

[Lady Whistledown]

Have used several mortgage brokers over the years, and never paid a fee to any of them, so this £200 business seems a little strange to me.

 

[Uncle Spielberg]

Please feel free to send me a pm and I will be happy to help

 

[Hiney]

A broker may or may not charge a fee for doing work.

If he/she does, be aware that he/she will also be paid by the lender for introducing the business to them.

It's been a while since I was a broker so not sure of what the rates are these days, but it will be shown in the illustration provided.

 

[DarrenFreemansPerm]

Myself and Mrs DFP have used a broker for the purchase of our first flat, remortgage, and for buying our house. We've never paid a fee, all of her money is made from the lenders, the fees are outlined in the mortgage particulars. I couldn't envisage undertaking this process without the use of a broker/financial adviser.

 

[WATFORD zero]

Have used several mortgage brokers over the years, and never paid a fee to any of them, so this £200 business seems a little strange to me.

Sorry Edna, but you always pay. One way or another you always pay (personally I prefer an up front fee rather than commission or management charges).

 

[Notters]

Have used several mortgage brokers over the years, and never paid a fee to any of them, so this £200 business seems a little strange to me.

This. Definitely no need to pay for one.

 

[Notters]

Sorry Edna, but you always pay. One way or another you always pay (personally I prefer an up front fee rather than commission or management charges).

No you don't. I know for a fact that we would've had the same deal if we'd gone straight to Nationwide.

 

[dazzer6666]

Whether you pay a fee, or you get the advice for 'free', the broker is making money - but they are also legally bound to explain all charges and commissions (so if they don't charge you, but are getting a commission from the lender or insurance company, they have to tell you exactly what this is). Unless you're pretty savvy financially, using an independent (whole of market) broker probably makes sense - quite possible that any fees (direct or indirect) you pay will be repaid in terms of a better value deal. Reasonable article below explaining the basics.

https://moneyfacts.co.uk/guides/mortgages/why-use-a-mortgage-broker180511/

 

[Chicken Run]

1st - use a broker
2nd - unless he knows they are going to be together forever and get married etc etc - then do tenants in common - then you own 50% each or whatever split is agreed

You sound like a mortgage broker?

 

[HantsSeagull]

You sound like a mortgage broker?

funny that :

 

[Chicken Run]

#unclespielberg