Broker Fees – Why pay one?

March 26, 2018

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Why Pay a Broker fee? – to get the professional Specialist Broker to look after your case from start to finish, that’s why!

We have had a client in the last couple of weeks that has spoken to a national fee free brokerage who was questioning why he should pay a fee with us. When reviewing his case, which was by no means straight forward, we were able to save him 1.5% on his mortgage rate compared to what he had been offered through the fee free broker which worked out at over £300 saving a month for his loan size. This was after his original broker had approached high street lenders and then a specialist lender having drawn a blank from the mainstream. Thanks to our specialist approach and that we are used to unusual cases we were able to find a lender to apply common sense and offer a ‘front line’ rate.

In addition we have had Lesley our senior case manager working on this to ensure the case is expedited with the lender to get to mortgage offer as soon as is possible as the client was getting pressure from both his buyer and vendor to progress quickly having spent 3 weeks looking for a mortgage deal with the previous broker.

Needless to say our client is happy to pay his fee- which is only on exchange of contracts- as over the next 5 years he will save significantly more on the rate we have arranged for him compared to the ‘fee free’ broker and the service he has received to this point in having a dedicated case manager making sure things work at a pace he is comfortable with.

Enjoy the blog?? Come back soon for a meet the team post where you will be able to meet members of our team and find a little bit more about them and what makes them tick.

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Ciaran Wilkinson

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Premier Mortgages North West Limited are directly authorised and regulated by the Financial Conduct Authority reference 556587. Registered in England and Wales No: 07673912. Registered Office: 60 High Street, Newton-le-Willows, Merseyside, WA12 9SH. Calls may be recorded for training and monitoring.

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