Cost of Loan Broker Advice?

mikey123

What is the usual fee, commission or both that a broker would earn if they were to find me a loan (an unsecured loan)? If they are unsuccessful do they have to refund the fee?

Do these guys add any value or do you think I'd be better off phoning about myself? (or using the internet)?

frugalpam

mikey123 wrote: »

What is the usual fee, commission or both that a broker would earn if they were to find me a loan (an unsecured loan)? If they are unsuccessful do they have to refund the fee?

Do these guys add any value or do you think I'd be better off phoning about myself? (or using the internet)?

First of all, have a look at Martin's article about getting loans - loads of good info. there. No need to pay a broker's fees - they probably charge a lot for something you can easily do yourself

HTH
Pam