Mortgage advisors

ACG

I dont know as I have never worked like that and do not know anyone who has. 

kingstreet

An "independent" who charged a fee and who rebated commission might have used this method to recommend the likes of Yorkshire Building Society or First Direct (and HSBC prior to their epiphany) who neither accept business from brokers nor pay commission. In that way the applicant got the best deal but had to arrange the mortgage directly with the lender while the broker was remunerated for finding the best deal, not just the best deal open to brokers.

markjmatthews

Julesc12 said:

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

I'd happily try to guide you, for free.....but if it takes up much of my time I'd look for compensation, ie a fee !

dunstonh

We still have the fee with commission offset in our fee agreement.   However, it is rarely used by the mortgage advisers.    We cover an area with low house prices and therefore low borrowing and the commission would not lead to a refund and a typically higher fee than the commission plus £250.   Last time I believe it was used was several years back for a London property worth a mortgage in excess of a million.

JJG1984

You get what you pay for and my broker took a fee and got the commission. I got the house of my dreams so everyone’s a winner. He will also look after every remortgage or product change to make sure I’m always on the best deal for as long as we have a working partnership. 

I guess its more about a fair fee 

amnblog

Allygate
The Lender pays a fee to the Broker for identifying a suitable borrower and handing them the case in a format that makes it simple for the Lender's team to process and easy for the Lender to say yes.
The borrower pays a fee to the Broker for the advice provided and access to their expertise.

As a commercial decision the Broker may occassionally waive or reduce the fee to the borrower. 
That is distinct from not charging a fee because the Broker is promoting their service based purely it being cheap.  

If your focus is finding a cheap broker there is one regularly mentioned on this Forum and already mentioned in this thread. You can guarantee a cheap service should you use them.