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Different advice from two mortgage brokers
SophieUK_2
Posts: 17 Forumite
I've been to see two mortgage brokers this week and they've offered slightly different advice, so I was hoping I could get some thoughts on their advice from the folks here.
Both advisers said fixed rate would be the way to go, but one said all the best deals at the moment were only available direct rather than through a a broker, so advised a fee upfront approach (£350 in total). The other said he works mostly on commission, and didn't say anything about the best deal being direct. He did say, when I asked him, that he could work for a fixed fee of £250 but he said most of his work is on commission.
Any thoughts?! Are the best deals trying to cut out the broker/middleman?
Both advisers said fixed rate would be the way to go, but one said all the best deals at the moment were only available direct rather than through a a broker, so advised a fee upfront approach (£350 in total). The other said he works mostly on commission, and didn't say anything about the best deal being direct. He did say, when I asked him, that he could work for a fixed fee of £250 but he said most of his work is on commission.
Any thoughts?! Are the best deals trying to cut out the broker/middleman?
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Comments
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They should tell you what deals they can offer. get in touch with L and C and also try Charcol (I think they're called) then look at the ones that dont work with brokers, such as RBS (full info is in the guide on the main site). Just compare and see which is best. I wouldn't pay up front, definitely.And if, you know, your history...0
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I had the same problem straight away I told the broker what i found direct on-line and she told me she can not get any of those deals or anything better...0
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A number of lenders no longer sell through mortgage brokers.
If you want to put in the time. Cheaper to do it yourself. If not you'll have to pay a fee to a broker.0 -
I wouldn't pay up front, definitely.
It can actually be the cheaper way to get unbiased advice.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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