We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
mortgage broker/financial advisor
Options
Comments
-
he's been reccommended as is a friend of a friend....
its a one off charge of £200 for his fee, so far he's found the best mortgage available to us and has been out to see us and said he will be coming out to see us a number of times....as far as i know he's dealing withe solicitors as he is reccomending the one we use, he has also arranged insurance and mortgage protection....
is it worth the fee?0 -
garryo wrote:
is it worth the fee?
To be fair, thats a question only you can answer but- to be completely honest with you- it's highly unlikely i would have done a mortgage for you for that that top up fee.I am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
does that mean you would have charged more or less?0
-
Think is obvious that SS is saying he would have likely charged more
You seem happy with the products / service this chap is offering..... BUT what made you think of asking this question
There's a number of brokers on here , including myself that don't usually charge (some of us offering full face to face for local business) , that said I would not say those charging a reasonable fee are in the wrong ( we all have different business models, overheads and expectations of income levels) and I would say that sort of fee is reasonable . Brokers who charge fees do perhaps run more of a risk of people "shopping around ".... again just by asking this question , shows peopel can have doubts about paying extra. Although no fee brokers run the risk of doing more unpaid work. [ NOTE I am not plying for business, as I am restricting new business flows until after Easter anyway ]
I am considering introducing a small charge when doing home visits - more of a goodwill thing , and to cover me when I end up recommending a no commission option ( existing lender rather than remortgage type of thing)Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
garryo wrote:does that mean you would have charged more or less?
More, unless it was very straightforward (and certainly one meeting!)I am a fee charging WoM Mortgage broker.I now no longer give information and opinion within the Mortgage boards, because a number of posters who, having approached me professionally, agreed my fee-which has been been made very clear at the outset, taken my advice (normally cancelling a [home visit] meeting at short notice) have then approached one of the fee-free brokers on here to arrange the very same deal I have advised.Whilst I totally concur with the ethos of "money saving"- abusing the goodwill of a professional who provides a quality service is taking it too far! :mad:0 -
thanks for all that...im starting to understand it all a bit now!
its all tricky stuff this mortgage lark..ha0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.1K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards