Do I have to pay my mortgage broker before the lender has approved the mortgage?

luckylouise08

I have been contacted by my mortgage broker and the lender we have applied to for my mortgage has booked the valuation for the property. They have not confirmed if they have approved the full amount we need for the mortgage yet. The mortgage broker says she will be requesting payment for the application (not sure if she means before we find out from the lender if i can get the full amount or not). I just wanted to know, if i should wait until the lender has let me know if they will lend the full amount before i pay the mortgage broker and if i still need to pay the broker if the lender won't lend me the full amount i need? Not sure what my rights are and don't want to make a mistake in the process.

ACG

The broker should have explained what their fees are and when they are due.

Some brokers charge on application (regardless of the outcome), others charge on offer and others on completion.