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Broker
Procrastination
Posts: 7 Forumite
Hi everyone, FTB limited knowledge. We reached our saving goal just as COVID hit, saved a bit more whilst we waited for the housing market to get going again. We met with a broker and he has sent us some deals (he claims his fee from the lender) we have come to realise after reviewing them and doing some of our own research, that we are priced out of the market currently for what we would like and with a lack of 90% LTV mortgages available and high fees just to apply we are going to have to wait it out. So my question is do we need to pay him for his time? He came to our house for around two hours and then went away and researched for us. Just currently feeling like we have wasted his time! Thanks
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I don’t think you need to pay him anything as that was the initial investment from him. If you feel like he has been great then just keep him in mind when the mortgage lenders are back at 90% LTV. I really hope that is soon for you 😊Procrastination said:Hi everyone, FTB limited knowledge. We reached our saving goal just as COVID hit, saved a bit more whilst we waited for the housing market to get going again. We met with a broker and he has sent us some deals (he claims his fee from the lender) we have come to realise after reviewing them and doing some of our own research, that we are priced out of the market currently for what we would like and with a lack of 90% LTV mortgages available and high fees just to apply we are going to have to wait it out. So my question is do we need to pay him for his time? He came to our house for around two hours and then went away and researched for us. Just currently feeling like we have wasted his time! Thanks1 -
If he is paid only by the Lender, he is putting his time at risk of not being covered and you owe him nothing.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
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