Mortgage Broker Checklists

ronctlsmile

I called a mortgage broker this afternoon and he suggested me to provide the following before he would give me the financial advice I need. Here is the lists of documents he needs:
Copy of passport
Copy of last 3 months payslips
Proof of any other income
Copy of last 3 months full bank statements showing transactions and salary credits
Proof of your current address
Details of any loans or credit cards going out each month
Proof of deposit money
Copy of credit report (either Experian or Equifax)

I am at the very early stage and only want some quotes from him. I dont see the point why I have to give him a lot of important personal information at this early stage.

amnblog

He is trying to avoid wasting your time and his.

Quotes have no value if you will not be accepted by the Lender.

Also, all borrowers should be aware the Lenders are in the habit of refusing to deal with brokers when cases have gone in with incorrect information on them. Therefore the broker needs to protect himself by ensuring your situation is as you state it to be.

If by 'quote' you mean a ball park idea of costs, that is something they can provide without background information on the basis it is just a guide figure.

A broker may decide their time is limited so that they will not work with a borrower unless they show themselves to be serious - that is a business decision.

Wh05apk

Mortgages are very heavily regulated, if he gives you quotes, he is effectively giving you advice, if you then go off and go to the lender direct, only to be declined after paying out fees, he could be liable, therefore he needs to know that the mortgage he quotes on will be suitable for you.

Let_Us_See

Do you mean "quotes" for broker/adviser fee or mortgage illustrations? If latter, then perfectly normal.