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[frankw5]

Originally Posted by momsgill

I have just had a remortgage offer after using London and Country as mentioned in Martin's website. Absolutely excellent - got me a fab deal with only £45 to pay. Couldn't believe it in the current climate. I would highly recommend them.

Who did you pay the £45 to?

[patman99]

I used a broker some years ago, cost me £1,000, but I saved about £20 a month on my mortgage (I increased the mortgage by £6,000 at the time). When the special deal came to an end, I hunted-down a good deal all by myself, A couple of years later, I did the same again. However, a year ago, I used a broker attached to an estate agency. He found me a tracker mortgage at base+0.17%, just started paying when the interest rates dropped. Talk about timing.

[Unbiased]

A point on fees as a "True Whole of Market" broker I do charge a fee it's how the fee is charged that can be essential.

No upfront fees in my view should be paid. I charge only on Completion of the mortgage and the work it takes getting you the right mortgage for your circumstances it is quite a fight behind the scenes you have many FSA requirements to follow and lenders not playing fair. Its not just about cost its about the quality service and the long term strategy of planning the right advice and product for each individual client. Accountants charge a fee Solicitors charge a fee.You are paying for a good advice service not just a sale.. Remember when you go to a bank you are getting a Non Advised Service with no compensation scheme in place. My incentive is to get you the right mortgage because I charge a fee on completion I get paid for a job welldone. Commissions don;t play a part in the advice process. A compliant Mortgage sale should be researched documented and justified by your broker in a letter of suitability to clarify the advice. Basically no mortgage no fee. I believe in being the true broker to my client that is you call me I make the phone calls to the solicitor the estate agent the lender and facilitate your needs. Everyones mortgage broker is the best in the world of course they got you what you wanted? I ask this question: Would the broker be the best in the world if they said you could not afford it and turned you away?

[dunstonh]

Everyones mortgage broker is the best in the world of course they got you what you wanted? I ask this question: Would the broker be the best in the world if they said you could not afford it and turned you away?

And this is why picking on the mortgage brokers is a tad unfair. (only a tad).

Historically, the best mortgage broker was seen by the public as the person who could get you a mortgage. I have heard it said by many good mortgage brokers who told clients they couldnt get a mortgage that the same person came back to them later to say xyz mortgage broker down the road got them a mortgage and that made him/her better than you. The honest broker was perceived by the public to be not as good as the dishonest one.

[JolantaVD]

Just had a bad experience with the Carrington Carr home finance. I was looking to remortgage my house and they've contacted me. They have presented me an option which looked very nice, but when I've checked all the details myself it appeared that I was very much misinformed. I was given wrong details about a product that they’ve found for me. Good job I've managed to stop everything in time.

[frankw5]

"Would the broker be the best in the world if they said you could not afford it and turned you away?"

The thing about charging a fee up front is that you get rid of time wasters. In my brief time giving mortgage advice, there were a few people that disappeared off the face of the earth!

[Captain Chaos]

Unbiased sounds a little biased to me. Dont discredit the advisor in the banking hall any banks offer advised service i am one of them rather a bold statement suggesting you wont get an advised sale in the bank with no compensation scheme.

However on the other hand I agree brokers should charge a sensible fee for their services because of the amount of background work involved the customer is often very well hidden from the turmoil us advisors have to go through to get the job done.

[Hauzen]

Does anyone have any recommendations for mortgage brokers in the Glasgow area?

[doctordaisy*21]

A mortgage broker has found me a mortgage deal but the stinger for me is that their standard fee is £2,995 and on top of that the building society will also charge me £995.
The £2,995 charge apparently gets me financial advice for the next 25 years which includes them regularly reviewing things like my utility suppliers, insurances, credit cards etc. The deal he has come up with is a three year deal and it will give me some extra cash to pay of debts and do some home improvements but I'm really finding it difficult to justify the £2995 fee...has anyone else had experience of a broker that provides this sort of service and has it paid off for them?

[Paul_Herring]

which includes them regularly reviewing things like my utility suppliers, insurances, credit cards etc

Those are the sorts of things you can do by yourself.

Did they mention things that you can't easily do, like (say) re-mortgaging, or will that have to be paid for when it happens? (In three years from what you've just said.)

[herbiesjp]

Originally Posted by doctordaisy*21

A mortgage broker has found me a mortgage deal but the stinger for me is that their standard fee is £2,995 and on top of that the building society will also charge me £995.
The £2,995 charge apparently gets me financial advice for the next 25 years which includes them regularly reviewing things like my utility suppliers, insurances, credit cards etc. The deal he has come up with is a three year deal and it will give me some extra cash to pay of debts and do some home improvements but I'm really finding it difficult to justify the £2995 fee...has anyone else had experience of a broker that provides this sort of service and has it paid off for them?

Please get a second opinion from another broker

A £2,995 fee is scandalous - depending on your scenario, you may find a fee free broker or one that will charge a far lower fee

I'd like to see them justify that fee

Do not sign any paperwork and please please please go elsewhere

[cara.smith]

Thanks for informative information

[underthematress]

Hi looking for some advice even though I am getting so much advice that my head has gone to mush!

The broker (who charges a fee) will do a mortgage with the abbey fee free which we ahve negotiated but a deal with the woolich he will charge a fee (£200) he says because the woolich are harder to deal with and more hassel.

I am buying with someone else who is against the idea of using a broker and my brother has also said go straight to the woolich for the deal it wont make a difference if we have a broker or not as we will be just a number to them and at least we know if dealing with the lender that the application is not sitting on someones desk all day

I thought maybe using the local broker would help speed up the application.

Any thoughts as now very confused!

[herbiesjp]

Or find a fee free broker - one happy to get paid commission only