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

_Andy_

rabbitmoon wrote: »

PS - in the words of the great Patrick Bateman, "just say no".

Got to be the first time I've seen an American Psycho quote on here.

Nice work!

I occasionally box with Ricky at the Harvard club

superbigal36

Find a deal you are happy with yourself.
Then challenge the "free Broker" to better it.
Seemples

EmmG_2

red_scully wrote: »

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.

All residential mortgage advice should be regulated by the Financial Conduct Authority. The long and short of this is that all the advice you receive should be suitable for you, all products recommended affordable for you, and all information you receive clear and transparent. A broker ought to work for you - a pushy salesman they should not be. That's the old-school method, and we're well shot of it.

You have no obligation to instruct any financial service provider you don't want to instruct - so don't instruct him. Next time you hear from him say clearly and simply: "Sorry, but I've decided I won't be using your services."

Being assertive is one of those things that gets easier the more you do it!

ValHaller

red_scully wrote: »

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.

I think a very brief email saying you found him too pushy and you do not want to do business with him.

Well done for standing up to him. And I suggest a good rule of thumb is never to sign anything on the spot - always take it away and reflect on it at home. I have had a few 'deals' taken away form me for not accepting on the spot. I have never regretted it.