Mortgage advisors

Julesc12

Hi can anyone recommend a mortgage advisor who doesn't  charge for their advice (as they get commission) for a mortgage where one of the applicants have a small ccj.

Thank you in advance

[Deleted User]

How big is the mortgage going to be?  If its not over 300k then you are unlikely to find a fee free broker giving you much more than a conveyor belt service.
And if you get someone who is trying to get it done as quick as possible then will they take the time to try get the best lender or will they just take the easy route?

Just my opinion anyway. Everyone has different business models at the end of the day so maybe it will work perfectly fine for others. 

Either way,   some fee free brokers are mentioned here: https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/ 

MFWannabe

Why are you specifically looking for one that doesn’t charge? 

Some charge, some don’t and some get commission from lenders. 

Personally I think a broker is worth ever penny especially if they get you a mortgage when you have a ccj 

kingstreet

Fee-free and adverse credit do not good service make.

K_S

MFWannabe said:

Why are you specifically looking for one that doesn’t charge? 

Some charge, some don’t and some get commission from lenders. 

Personally I think a broker is worth ever penny especially if they get you a mortgage when you have a ccj 

@mfwannabe All brokers (at least all the ones I know of) get "commission" (procuration fee) from the lenders. Some brokers will charge a fee on top of that, some don't.

I personally have never heard of a resi broker that only charges a fee and doesn't receive any commission/proc fee from the lender.

@julesc12 Just to be clear, none of this (fee, commission or both) makes any difference to the rates or products that a broker has access to. 

MovingForwards

https://forums.moneysavingexpert.com/discussion/6237249/using-a-personal-injury-trust-for-mortgage-deposit#latest

Find a broker you like and feel comfortable with rather than rule someone out because they charge a fee.

ACG

Call L&C. 
You look like you would be a good match for one another. 

dunstonh

I personally have never heard of a resi broker that only charges a fee and doesn't receive any commission/proc fee from the lender.

Quite a lot of independents offer nearly that model that model but don't use it much.  However, it is usually fee with commission offset. 

Call L&C. 
You look like you would be a good match for one another. 

Don't tease the poor thing.

allygate

Hi Dunston. I have been looking a broker who doesn’t take commission from the lender and works for a fixed fee. Can you recommend a couple of independents please. I am willing to pay a fixed fee up to £400. I assume this means I will get a lower interest rate?

[Deleted User]

Interest rates dont change depending on how a broker charges a client. Plenty brokers will charge a fixed fee lf £400 and take commission from the lender.

If you want a broker who doesn't take commission from the lender then be prepared to pay a lot more than £400.

For example, some of my cases have lender commission of £800+.   If you want me to give that up then there better be a very good reason 

allygate

Thanks JMA. I’m confused, then what is the point of the fixed-fee no commission independent mortgage advisor that Dunston referred to?

Can you recommend one of these independents so I can talk to them and see what fee they charge?