Mortgage advisor found me a deal - is it wrong to cut him out?

DaisyBryar

I'm buying a flat soon and spoke to the estate agent's mortgage advisor, who found me a good mortgage with my bank. Is it wrong for me to contact the bank directly to set up the mortgage and cut the mortgage advisor out completely? It will save me hundreds of pounds but I'm not sure if it's morally right. 

DaisyBryar

I should mention - it's not the mortgage advisor connected to the estate agent I'm buying the flat through

K_S

@daisybryar Whether it's morally right or not is a personal judgement to make

Speaking as a broker, is this something that happens? Yes. Not very often if you're a good broker but it still does.

Do I like it when it happens? No, because there's a lot of background work and paperwork that goes in before I can make a recommendation for a regulated residential mortgage.

But I don't lose any sleep over it, it's just a cost of doing business as a mortgage broker. Every single lead you speak to doesn't turn into a completed mortgage.

If you're averse to paying a broker fee (which is fair enough), there are plenty of fee-free brokers recommended on the MSE broker page available to provide advice so I'd recommend that you consider using them the next time around.