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What does a Broker charge?
yus786
Posts: 677 Forumite
Hi
In the process of moving my mortgage and have heard 'Broker' being mentioned in nearly all the threads.
What does a broker charge and are they worth the extra money?
Thanks
In the process of moving my mortgage and have heard 'Broker' being mentioned in nearly all the threads.
What does a broker charge and are they worth the extra money?
Thanks
0
Comments
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In most cases there is no charge. They also have access to products that the general public cant so its well worth using one.0
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they are all different, and many don't charge a penny. As to whether they are "worth it" it depends on how happy you are to undertake the whole mortgage research and application process yourself.
Obviously I am biased, but would be surprised if you didn't end up with a lot more options for the sake of contacting a good broker.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks
Can someone recommend one then VIA PM?0 -
Can someone recommend one then VIA PM?
No.
It would be against board rules (as posted at the top of this forum). If you are approached by a mortgage adviser, it is considered touting. If you approached by someone else recommending someone then they may have an interest.
Every town would have at least one mortgage adviser. A small town would normally have a dozen or so.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 -
no worries
thanks0 -
If you start a topic asking for recommendations in your town that may attract the attention of local consumers who can make a recommendation to you.
The prohibition only applies to brokers.0 -
Read Martins guide here
He recommends London & Country (a fees free broker)
Its worth contacting them to see what they can offer but always do your own checks because although they claim to be whole of market there are some companies excluded for example, HSBC, Egg, Direct Line and Yorkshire Building Society.
Plus they gave me some duff info last June read hereA cynic is a man who knows the price of everything but the value of nothing.0 -
I wouldn't rely on one recommendation. If I was replacing my boiler, I'd get probably 3 quotes, and this on a £2k investment.
Personally, I don't believe that L&C are any better than any other broker. The fact that they are fees free is irrelevant. As a consumer, I would opt for experience all the time.
Andy.0
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