Mortgage advisors/brokers.

onlyliveonce

Hi. Can anyone tell the typical fee a mortgage advisor/broker charges. Spoke to 3  over the phone, 1 charges a fee for a mortgage aip of £198 then a completion fee other 2 had a fee of £499 and £799. Im unsure about this as our first broker who helped us out was paid by the lender. Also where do you find your lender online? Word of mouth? Walking/driving up the street.

Cheers guys.

amnblog

The Lender pays the Broker for identifying you a suitable Client and presenting your case to them in a form that enables them to say 'yes' without fuss or complication.
You pay the Broker for providing you with advice and service.
How much is a typical Broker fee? This is a difficult question that depends on the nature of your case and the lending you require.
Some Brokers rely simply on what they earn from the Lender, others made charge you into 4 figures for their advice and service.
A Broker has to make sure you feel you are getting value for money and value for money should be your consideration.
The easiest way to find a good Broker is to ask for a recommendation from Friends who may have used one in the past.

Whats_your_forte

Friends and online reviews are usually the best sources. Some charge and some don't. That's more their business model.