How do I tell my mortgage broker I'm ditching him?

red_scully

I'm a first time buyer, and two of my friends who have recently bought their first homes themselves advised me against using a broker who charges fees. I realise this is a bit of a sticky subject on this boards, BUT I tend to agree with them on this. Today I went to meet with the mortgage broker the housing association recommended to me, and he wanted me to sign a form saying I would pay a £500 fee for his services. He even told me it's a myth that there are free brokers out there. I fobbed him off - hardest thing I've ever done, as I am not good at confrontation and he was very pushy. He was also trying very hard to sell me mortgage insurance at the same time which I found quite unnerving as he didn't really even give me the chance to say no.

After the meeting was over I spoke with my friends and contacted another broker, who was recommended by one of the girls, and feel much more comfortable with this guy. He is from London And Country so won't charge a fee, and wasn't pushy or scary. I therefore am going to switch to him instead. The thing is, I have no idea how to tell the original guy I've changed my mind, as he was very bristly and clearly annoyed when I refused to sign the documents on the spot. Any suggestions for how to handle this? This is all very stressful stuff and I would be hugely grateful for any help anyone can give me!

M

Dan-Dan

Why does being a FTB = No balls ?

Just tell him thanks but no thanks?!?

m0rgana

This guy is lying through his teeth!

That said, not particularly nice of others to criticise your lack of 'balls' - us Brits DO find these situations difficult sometimes.

Go to London & Country. They won't charge you a penny. And if it helps, use them as a solid example of someone who doesn't charge, and he won't have a leg to stand on

Dan-Dan

Oh come on , the op knows he doesnt want to use him , so what can anyone here say that can possibly help ?

Sometimes people just have to man up!

kingstreet

Thank you, but I'm using an alternative source of mortgage finance.

Cornucopia

Just don't go back to him.

If he calls you say you've found someone else. You could also imply that you weren't happy being told that a free service was not available.

Bella73

I would just say thank you but have seen two or three different brokers and have decided to go with someone else.

At the end of the day even if you offend him (which I'm sure you won't) it doesn't matter as you are not going to see him again.

red_scully

Thanks all for such quick responses! I am rather lacking in the balls department (in more ways than one, given that I'm female! ) and I'm also pretty paranoid about offending people, which is obviously ridiculous given that this is just business. I like the suggestion about mentioning to him I have found a free service, just to make the point. I think I'll take a nap and then let him know this afternoon - I've already told the HA and my solicitor so I really need tro do it before he hears from someone else

Thanks again all, for reading my little panicky post

[Deleted User]

Tell him you've just taken out a Wonga loan so won't be looking at getting a mortgage any time soon.

red_scully

Deleted_User wrote: »

Tell him you've just taken out a Wonga loan so won't be looking at getting a mortgage any time soon.

Ha ha ha! Yes, that should scare him off! :rotfl:

bossymoo

Why do you need a broker at all? Can you not apply direct?

Just find a deal that suits you and ring the lender.