Broker Fee

Lockets

We had a remortgage arranged for us by a broker.We paid him an arrangement fee of £99 to do this.To cut a long story short it went on for 2 months until we finally got the mortgage offer from the lender (fixed).After seeing all the figures and weighing up what was best for us we decided to stick with our current lender which is on a tracker mortgage because of advice that the interest will get lower as the months go on.The Broker was to be paid £500 by the lender when the mortgage was completed.Now because we cancelled the broker has now sent us a bill for £500 for his fees! Has he the right to do this? Any advice would be helpful thanks.

Mr_helpful

Details of how he charges will be in the IDD (initial [STRIKE]Deception[/STRIKE] Disclosure Document) That he gave you on your first visit.

minimike2

You shouldnt have to pay this if the IDD doesn't outline it.

Can you post the wording in the secition "What you have to pay us for our service", including the refund part - then we can advise.

Mr Helpful - Thats a pretty unhelpful comment and pretty non-constructive.

Lockets

I will check the wording on the IDD when i get home and come back thanks

koexelek

Mr_helpful wrote: »

Details of how he charges will be in the IDD (initial [strike]Deception[/strike] Disclosure Document) That he gave you on your first visit.

The dodgy brokers don't bother with one of them :eek:

feisty1

Lockets wrote: »

Lockets: Out of interest how much do you think you should pay him?

Wutang_2

feisty1 wrote: »

Lockets wrote: »

Lockets: Out of interest how much do you think you should pay him?

Out or more interest, do you like this font or this?