We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 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!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage broker costs
simonpeterc
Posts: 3 Newbie
We have been following the advise for re-mortgaging. We are using London and County for quotes and they incorporate a 'booking fee' in their quote
(£995) plus a mortgage admin fee (£225) plus telegraphic transfer fee (£30). Do you know if this is a standard practise? Or is this a way of charging us costs?
Would be grateful for any info.
(£995) plus a mortgage admin fee (£225) plus telegraphic transfer fee (£30). Do you know if this is a standard practise? Or is this a way of charging us costs?
Would be grateful for any info.
0
Comments
-
They are costs levied by the lender concerned not the broker.
As a broker we have no control over the fees charged by the lender, however will illustrate them in a transparent fashion on the Key Features Illustration (quote) in the manner you have listed them.
It is a requirement of the FSA that the charges are fully explicit in this way.
Andy0 -
Is there anyway to reduce these fees0
-
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 a lot got any suggestions for lenders with lower costs?
simon0 -
Lower fees will mean generally higher rate.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards