Mortgage broker fees

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Vhopeful
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Mortgage broker fees

Postby Vhopeful » Sun Jan 15, 2017 1:58 pm

Having never used a mortgage broker before just wanted to clarify you only pay their fees if they actually secure you the mortgage or am I incorrect? Can anyone's suggest a local broker who helped them with using bonus payments as part of their income as a lot of banks dont seem to keen to do this.
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szerma
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Re: Mortgage broker fees

Postby szerma » Sun Jan 15, 2017 2:48 pm

Yes - you only pay them if they secure you a mortgage. Advice is free! I can highly recommend the guy below. He helped us with a non standard situation. He is not local but that does not matter - all mortgage business is done on the phone and electronically! You can PM me if you want more details. His fee was £500 3 years ago, but then my friends used him and didn't pay a fee as he was paid by the lender - I guess depends on what you go for. You can mention that Maja recommended him.

Michael Illston
Director
T: 0115 9499988 | F: 0115 9499989 | W:www.premiermortgageservices.com
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CDSW12
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Re: Mortgage broker fees

Postby CDSW12 » Tue Jun 13, 2017 10:33 pm

I am seeing this very late but some brokers don't charge you at all. They just get the fees from the mortgage lender. I have used Charles Cameron (Carolyn Ball ) many times and they are ace and don't charge you anything. They specialise in high-value / city type of borrowers.

don't use a broker that charge you a fee when there is so many brokers that just don't!
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this_is_cat
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Re: Mortgage broker fees

Postby this_is_cat » Wed Jun 14, 2017 10:34 am

We use London and Country, and they don't charge any fees at all.

They've been absolutely brilliant the times we've used them (2 purchases and 2 remortgages), and we've recommended them to many family and friends who have also sung their praises.
They have access to the entire market, and also specialist teams who deal with borrowers who are self-employed/non-standard

I can PM you the name of the specific person we deal with, if it is of interest, but I would find it very hard to justify paying a penny to a broker when there are such good alternatives which don't charge
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szerma
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Re: Mortgage broker fees

Postby szerma » Wed Jun 14, 2017 10:56 am

I think things have changed over the last 4 years as the competition for deals has heated up between banks, Michael Illston above has contacted me about some amazing deals available with no broker, legal or arrangement fees. So I still recommend him! Please note I have no personal association with him.
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Readysteadycook
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Re: Mortgage broker fees

Postby Readysteadycook » Mon Oct 04, 2021 7:43 pm

Its also worth checking out cashback websites for their mortgage brokers, sometimes they pay £100's and I got £600 on my last renewal. 

Get a £5 additional bonus if signing up with my link to Topcashback :-

https://www.topcashback.co.uk/ref/theworldtraveller
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