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I think the IFA is trying to rip us off?
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All fee-charging brokers probably accept that occasionally clients will arrange for themselves the same mortgage that they have recommended.
Here the broker has two choices, either let the client arrange the mortgage himself and gain nothing or arrange this mortgage for the client and gain 0.3-0.4% commission from the lender. This might not be what he was expecting, he has lost £350 top-up fee, but it is better than nothing having already some work.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
or he could charge the fee and refund the proc fee back to him?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
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