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Mortgage broker fees
Just911
Posts: 3 Newbie
Hello,
I paid a mortgage broker an upfront broker fee to help me secure my mortgage. At the time my credit file was not in order and was unable to secure borrowing via the broker. Should he have returned my broker fee as I didn't get one through him?
Thanks
I paid a mortgage broker an upfront broker fee to help me secure my mortgage. At the time my credit file was not in order and was unable to secure borrowing via the broker. Should he have returned my broker fee as I didn't get one through him?
Thanks
0
Comments
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Depends what the fee agreement states. Next time find a broker who charges on offer1
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If their agreement said to charge on application and no refund would be applicable if declined then the fee should not be refunded.
I dont agree with that method personally, but it is allowed if both sides are happy to proceed, which you did.
In future, you should only pay on offer or completion.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.1 -
Ive also seen ones that charge on attempt at getting an AIP. So you may not even get as far as having an accepted AIP before losing money.1
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Naaaaa, but before you attempt a mortgage again take a look at your credit file and see if there are any nastys there.1
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