Why No broker fee??

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WHY WE DO NOT CHARGE A BROKER FEE FOR STANDARD RESIDENTIAL MORTGAGES

As discussed in our previous ‘Why use a mortgage broker’ blog one of our USP’s at One2One Mortgage Solutions Ltd is that we do not charge a broker fee for residential mortgages.

Whether you are a first time buyer, a home mover or you are remortgaging your current property to obtain a better rate or to raise capital, you the client have a decision to make. That decision is who do I use to facilitate my mortgage?

Some choose their bank, whilst others will want to find the best deal and search the whole of the market thus using a mortgage broker. On many occasions when visiting a mortgage broker the broker will charge you a fee for searching the market for you known as a broker fee. This will either be charged upfront or it will be added to the mortgage and paid on completion. This fee can be £199, £295, £495 even up to £2,000!! Many people believe that all brokers charge fees and this could put someone off when deciding whether to use a broker. The reason many brokers charge this fee is that they are offering a professional service that say a solicitor would offer so why should they work for free? Well this isn’t quite the case because in general, mortgage brokers get paid a procuration fee (commission) from the chosen lender.

 

At One2One we do not believe in charging our clients a broker fee for our whole of market service, as we receive a procuration fee from the lender. We also believe that by offering our service without the charging of a broker fee we will extend our client portfolio through referrals. Approximately 80% of our new business is referral business something we are very proud of.

 

So, what can we offer you with our no broker fee whole of market residential broker service?

 

  • The choice of 100’s of products across the market from high street lenders, we bring the high street to you
  • Access to many exclusive deals from high street lenders you cannot get in branch
  • Access to the non-high street lenders who can offer mortgages to clients who may not meet the criteria of the high street lenders
  • The option to come and visit us at our Cwmbran Town Centre office or book an appointment for us to come to you in the comfort of your own home or work place
  • A mortgage case handler to support you all the way to your mortgages completion
  • Expertise from our qualified mortgage brokers who offer you the experience and expertise required for your mortgage needs

 

 

For your mortgage needs we feel we are the perfect place for you to discuss your mortgage needs whatever they are and allow us to find the mortgage that suits your needs without the need to pay us a broker fee. We hope you agree with us that we are the ideal match for you to discuss your mortgage needs and have the choice of 100’s of products from many many lenders as opposed to just a few products from just one lender at say your bank or building society.

We hope this has been informative for you and we look forward to our next blog which will be ‘Why is Mortgage Protection vital for you & your family’.

 

‘As a mortgage is secured against your home, it may be repossessed if you do not keep up the mortgage repayments’.

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