This is pants....

Vicki_1972

Hi a couple of weeks ago went to the Halifax for a mortgage being a 1st buyer of purchasing my council flat to be refused due to my credit rating... Received some great advise to seek an independent morgage advisor which I consulted on this site and was advised free service no obligation - thought great a move forward...upon meeting this person to find that there fees would be approx 1000.00 as well keeping the commision from lender....Is this always case??? This is not including the legal fees and the valuation fees.....Still have not had any word yet of a lender this task seems so soul destroying...All I want to do is buy my flat in where my finances are fine and I am getting 64% discount on the property isnt that enough??? Feedback would be appreciatted

jamesd

It's not always the case. Each broker is free to decide what to charge. This one seems fairly costly, though your case sounds difficult.

N9eav

It used to be all brokers got their commission from the lender for getting you their custom. Many now charge fees. Some don't so you just have to search them out. Or use them and then don't take their advice and go to the company direct.

_Andy_

are you sure the £1000 is the broker fee, or is it an arrangement fee for the mortgage lender?

BritRael

Vicki_1972 wrote: »

...upon meeting this person to find that there fees would be approx 1000.00 as well keeping the commision from lender....

No problem, just find another that you are happy with

Mrs_Bumble

Like most professions the mortgage broker world is full of different fees and fee structures. We have to jump through a lot of hoops these days and costs associated with this to carry on trading.

Shop around, but you will find that brokers are more commonly charging a fee now.

herbiesjp

What issues do you have with your credit file? Do you have an up to date copy from Equifax or Experian?