How Much Does it Cost to Use an Independent Mortgage Broker?
There are more lenders than you can possibly shake a stick at! Although price comparison websites are a good place to start when you’re thinking about getting a mortgage or a remortgage, some home loan providers do not advertise on them so you are not comparing the whole of the mortgage market when you Go Compare.
There are a number of lenders who will only arrange a mortgage with the help of a trained mortgage broker so the only way of truly comparing the whole of the mortgage market is to speak to an independent, whole of market mortgage broker like me.
And I will take the time to fully understand your very particular circumstances, such as your employment situation, your expenditure and existing credit, your credit history (whether it is good or bad) and a number of other factors. I would then use state of the art mortgage sourcing technology to search the whole of the mortgage market to find you the perfect mortgage.
And I will do all that for free.
As I’ve mentioned, all advice given prior to applying for a decision in principle is completely free of charge. And I am more than happy to chat through your situation and give you any help you might need with no obligation to proceed with any mortgage recommendations I might suggest to you.
So feel free to get in touch if you have a question about mortgages or property generally and I will be more than happy to give you free, impartial advice based on my many years’ of property experience.
Should you be happy with my tailored mortgage recommendation then the next stage is to apply for a decision in principle and should you instruct me to carry this out on your behalf then there would be a charge of £295 upon succesful receipt of the agreement to lend in principle.
A decision or agreement in principle is written confirmation from the chosen lender that they would, in principle, be happy to lend to you and how much. You will need to evidence everything you’ve told us about your situation (payslips, bank statements etc) and as long as it all matches up then there is a good chance you will get your mortgage. (although there are many other reasons a house purchase or remortgage may not reach completion)
But, if for any reason we are not succesful in the application for a decision in principle then there would be nothing to pay.
If a lender has confirmed they would, in principle, be happy to offer you a mortgage, the next step is to submit the full application. Ask me to help and my team and I will do everything for you, explaining in clear, easy to understand English exactly what is going on at every stage.
A major advantage to using me is the fact you have my mobile number and can call me whenever you like to find out the progress of your application or to discuss anything to do with it or your property. You will never have to sit on hold to a call centre or explain the situation to yet another telephone operative who has never heard of you or your mortgage.
Upon successful receipt of your mortgage offer there would be a final broker fee of £495 but, as with the DIP fee, there will be nothing to pay should we not get to the mortgage offer stage.