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Reccomend a broker
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Let_Us_See wrote: »Therefore a broker is 100% sure of every case they submit? Surely not?
I think his point is that a broker who charges on offer/completion will only put cases in when they are confident and happy to invest time.
A broker who charges an application fee may (and accept this should not be the case) more willing to put in time submitting an application as they are being compensated for this time.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Of course we can not be 100% on every case - if any.
But as we ONLY receive our remuneration if the case goes to offer and then the remainder when it completes, it means I am investing my time for potentially nothing. So I have to be confident that I can get the case to offer, otherwise it is a waste of my time.
If you are paying on application then there is always that temptation to submit an application in on a wing and a prayer. I am not saying charging upfront is wrong as brokers do have their costs to cover. But if I was a customer I would not want to pay someone and get nothing for it at the end.I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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