Independant mortgage advisor charges

geord49

I am currently discussing a remortgage (offset type) with an independant mortgage advisor and he advises me that his companies charges are £1,440 which will be added to the mortgage advance. is it standard to be charged by the advisor in this way.

dazza.mk

geord49 wrote: »

I am currently discussing a remortgage (offset type) with an independant mortgage advisor and he advises me that his companies charges are £1,440 which will be added to the mortgage advance. is it standard to be charged by the advisor in this way.

Seems really steep! (unless you've misunderstood and there are some booking fees/lending fees relating to the actual mortgage in there)

Clive_Woody

geord49 wrote: »

I am currently discussing a remortgage (offset type) with an independant mortgage advisor and he advises me that his companies charges are £1,440 which will be added to the mortgage advance. is it standard to be charged by the advisor in this way.

This is not standard at all. Financial advisors will recieve commission (from the mortgage lender) for selling the mortgage so in all honesty they should not be charging you a fee on top of this.

My advice would be to walk away and find an IFA who does not charge a fee.

Have a look through the mortgage guide on here which gives lots of helpful tips.

http://www.moneysavingexpert.com/mortgages/best-mortgages-cashback

Also you might like to have a look on the mortgage board on here rather the credit card board.