Mortgage broker uk
So what is a mortgage borker…
Well instead of looking for yourself then someone else will do it for you…
Basically mortgage brokers are independent thus work for you and not for a financial institution. Mortgage brokers can search high and low to find the “best deal” for you. Many mortgage broker companies have expert adviser whom find the best mortgage deal for your circumstances. Mortgage borker can be costly as most seem to take a admin fee of say £400 and a percentage of the total mortgage (sounds like a good bussiness to be in) percentage seem to range from about 0.5% to 2% this means if your mortgage is £200,000 you’ll being giving the broker £400 fee plus £2,000 @1% total fees would be £2,400 for the broker..
So why use a broker if its going to cost something like £2,000 +
Well the taken time to find the right mortgage could cost more than 2k and also it depends on your experience in the mortgage market as some brokers have many years of mortgage advising experince… Personally I don’t wish to seek a broker as yet and I think I have the time to find what correct for me,
