It's one of the first questions people ask, and it's a fair one. The short answer: talking to a broker is often free, but arranging a mortgage may come with a fee. Here's how it works, so you know exactly what to expect.
Is it free to talk to a mortgage broker?
With me, yes. There's no charge for an initial conversation and no obligation to go ahead. It's a chance to talk through your plans and find out what could be possible, even if buying or remortgaging is still a way off.
How do mortgage brokers get paid?
Brokers are usually paid in one or both of these ways:
A fee from you for researching, recommending and arranging your mortgage.
Commission from the lender, often called a procuration fee, paid when your mortgage completes.
Your broker must tell you how they're paid before you go ahead, so there are no surprises.
What do I charge?
My fees are set out clearly on my Fees and Charges page and agreed with you before you commit to anything.
Are fee-free brokers better?
Not necessarily. A broker who doesn't charge you a fee is still paid by the lender. What matters most is the quality of the advice, how much of the market they look at, and the support you get through the process.
What else will I pay when buying a home?
Your broker fee is only one cost. You may also need to budget for:
lender product or arrangement fees
solicitor and conveyancing fees
a survey
Stamp Duty, depending on the price and your circumstances
Use my first time buyer tools or moving home tools to estimate your costs.
Want to know what's possible, with no obligation? Get in touch for a friendly chat.
Your home may be repossessed if you do not keep up repayments on your mortgage.