How far does a paid Mortgage Broker go?

Pancakesss

Hi,

This may seem a bit of a silly question.. but how far does a fee charging mortgage broker assist you along the buying process? Do they just sort the mortgage until you get an offer? Or do they also help do the chasing with solicitors, estate agents etc until the very end to exchange and completion of the house?

many thanks

ACG

If my clients use "my" solicitor, I will chase her for updates - as I can do them all in 1 go on a weekly basis or more often if needed. I go out of my way to explain I do not get any kick backs, I use her as she makes my life easier.

If my clients use their own solicitor I do not chase them. I have no rapport with them and can not call in favours if needed. I also do not like dealing with online conveyancing firms, you are just a number to them.

With regards to the estate agents then usually they do not need chasing but I do prefer to deal with agents rather than my clients as agents apply more pressure to clients in the main.

Thats just me, I am sure your question will vary from broker to broker whether fee charging or not.

amnblog

The broker is interesting in your completing the purchase.


Any broker who is not prepared to assist you to that end where they can is shooting themselves in the foot.

stator

I've yet to find a broker who will go all the way :rotfl:

Sorry

Dave_Ham

Seriously though we often spend considerable time post offer pushing solicitors and lenders alike. Like anything there are good, bad and ugly out there..

I think it reasonable to stay involved

jacobtheamish

We are fee free and chase the solicitor and agent when needed, would be a shame if a fee charging broker did not do the same.

ToriP

Our broker was fantastic.
He got us a deal better then we thought we would and said he would do anything we needed to assist in the purchase and ring anyone we needed him to, even with regards to putting offers in!

Pancakesss

Thanks all for your advice! I just wasn't sure if I was asking my broker to do extra work and felt really bad asking him for an update
The seller's solicitor is sooooooo slow, so the more people chasing the better!

mrginge

Round here they'll pretty much do anything for a bag of chips and 10 silk cut

kingstreet

Pancakesss wrote: »

Thanks all for your advice! I just wasn't sure if I was asking my broker to do extra work and felt really bad asking him for an update
The seller's solicitor is sooooooo slow, so the more people chasing the better!

Your broker has access to the same people you do, the selling agent and your solicitor.

They don't have access to the vendor or their solicitor so chances are they will have little more success than you can have yourself.

ACG

mrginge wrote: »

Round here they'll pretty much do anything for a bag of chips and 10 silk cut

I bet 10 silk cut costs more than a Mortgage now a days.

I think people used to pay 20p a cig when I was 15.