Mortgage Brokers

fto_loyal

I'm a first time buyer and I'm just wondering what kind of fees can I expect if I go to a mortgage broker to find a mortgage?

_Andy_

Many brokers are fee-free, some charge.
Fees from the lender themselves wll vary.

Dan_Collins_2

I tell you what, I will find you the best deal pos and I will only charge you £50000!

Note to self, stop posting when drinking beer and watching Football, Rugby and Horse racing!!

Gorgeous_George

No brokers are fee-free. They all have livings to make.

Sometimes, you do not see the fees that they charge.

GG

sarkin

I charge £195 broker fee payable on completion, some brokers do not charge any fees. You get what you pay for.

Dan_Collins_2

Gorgeous_George wrote: »

No brokers are fee-free. They all have livings to make.

Sometimes, you do not see the fees that they charge.

GG

What are you talking about!

I am fee free. This rubbish that we charge the lender!! The lender (most) pays us commission if we charge or not. We do not set the commission they do.

PLease explain what you mean?

minimike2

Gorgeous_George wrote: »

No brokers are fee-free. They all have livings to make.

Sometimes, you do not see the fees that they charge.

GG

Im afraid this is nonsnse.

If a broker is fee free, they are fee free. End of.

If they are not, they are not.

_Andy_

Gorgeous_George wrote: »

No brokers are fee-free. They all have livings to make.

Sometimes, you do not see the fees that they charge.

GG

Not true. Many brokers don't charge fees. Yes they will recieve proc fees/commission from the lender but this has nothing to do with what the client pays for.
How could you 'not see' a fee that the broker charged anyway?

Dan_Collins_2

He is probably talking about all the fees we hide from the the client to make us rich rich rich!!

_Andy_

Dan_Collins wrote: »

He is probably talking about all the fees we hide from the the client to make us rich rich rich!!

I tend to hide, on average, maybe 5-10k. Not sure about you but I just jack the mortgage amount up by that amount and tell the solicitor to pass me the cold hard cash for that amount on completion and not tell the client

minimike2

£20k a time here. I will share with you how I do it if you want Andy...double your money!