Mortgage Brokers

GMS

Anything in section 8?

Nick1111

Hi,
The section 8 says,
Fees payable to lender
Product Fee -this fee will be charged to your loan on completion of your mortgage and is non-refundable. It will form part of the total loan amount on which interest is charged. Fee amount £995/-

I have not signed the offer or accepted the offer.
Thanks

amnblog

Any fees payable to the Broker should be listed in section 8.


A broker (although they do not have to use an official 'initial disclosure document (IDD)' anymore) should explain their terms and the start of the process and certainly before you incur any cost.


If you have not signed anything or agreed to anything in terms of broker fees, tell them to buzz off and threaten to name and shame them on here and report them to the FCA if they hassle you.

ACG

Or name and shame anyway.
They should not be asking for money they are presumably not entitled to or told you about.
Gives our industry a bad reputation.