Financial Smiles Prudhoe

ToonAndy25

Good afternoon.

I'm currently in the process of viewing properties and have found one which I like and would like to progress and possibly make an offer. I have begun looking for a broker and a couple of friends have used Financial Smiles in Prudhoe. I can't post links yet, however if anyone 'more in the know' than me (not hard!) would have time to give their website a quick look over and let me know what you think also, that would be much appreciated. The website looks fine to me and fairly professional however I don't exactly know what I'm looking at apart from the aesthetics!

I was wondering if anyone here has had any dealings with them or heard of them at all?

I've looked at the article 'How to interview your broker'. Does anyone have any further advice I may want to take into account?

If they look OK, I'm thinking of giving them a call tomorrow for a chat.

Thanks for reading.

kingstreet

Whole market, no independent option.

Fee payable;-

A fee of £450 or 0.35% of the loan amount (whichever is greater) payable on completion of the mortgage. For example on a mortgage of £100,000 we will charge a fee of £450. We will also be paid commission from the lender/company

isn't too bad, I suppose.

If they come recommended, give them a try.

ToonAndy25

kingstreet wrote: »

Whole market, no independent option.

Fee payable;-


isn't too bad, I suppose.

If they come recommended, give them a try.

I recall reading in a previous thread that some brokers may be willing negotiate the fee payable to gain your service providing they are also receiving a fee from the lender, is it worth mentioning when calling the broker?

Also, I must apologise for sounding like an idiot but what do you mean by "No independent option"?

kingstreet

Independent option means you pay them a fee, they advise you on the best deal, which will include direct to lender options, and if they get commission, the commission is refunded to you to offset the fee.

The whole market option they are offering means they will only consider deals which pay them a commission and they are charging you a fee on top of that. They will earn £800 (fee + commission) off a £100k mortgage, so there may be limited scope for reducing the fee, if any.