Is this normal for a broker???

Dlg77

Hi all, ive been lurking about for some time now, and with information from the forum decided to use a whole of market broker.

My broker called me today and told me he managed to get me a good deal... No valuation fee, no lender fee and a 3.86 intrest rate...which is great...but when i asked who the lender was...he said, i cant disclose that information at the moment......! Is this normal. Surely i have the right to know who the lender is.

How can he expect me to send in all docs to support my application and blindly agree to use this mystery lender.

Any thoughts/advice on why he would do this.

Thanks in advance.

Jack_Johnson_the_acorn

Dlg77 wrote: »

Hi all, ive been lurking about for some time now, and with information from the forum decided to use a whole of market broker.

My broker called me today and told me he managed to get me a good deal... No valuation fee, no lender fee and a 3.86 intrest rate...which is great...but when i asked who the lender was...he said, i cant disclose that information at the moment......! Is this normal. Surely i have the right to know who the lender is.

How can he expect me to send in all docs to support my application and blindly agree to use this mystery lender.

Any thoughts/advice on why he would do this.

Thanks in advance.

Because you're probably able to go direct and he'll lose his cut.

ACG

Exactly that.

Some clients would cut out the broker and apply direct after they have done a few hours work. So it means they have done the work for nothing.

Does it matter who the lender is? So long as you are happy with the rate/fees etc what difference does it make whether its halifax or RBS for instance?