Quote:
Originally Posted by jovilaura_fi
There are Independent Mortgage advisors in this country which will offer independent advice on your personal situation, to get the best deal out there. They will do all the negotiations with the bank, which I find really good. If I have to pay £300 for their service, I will gladly pay, knowing that someone is looking out for my best interest. This is especially good if you're in need of a flexible lender (willing to lend you more than 3x the salary). The fee is only payable upon completion, so if they don't find you anything, you don't pay.
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At the end of the day they are still mortgage brokers in the business of selling mortgages. Of course a good broker will find you the best deal and if you have to get a mortgage you need to enlist the services of a mortgage broker. However, I'd never rely on their word of what is a good deal. While they do the footwork for you, they still need to get paid at the end of the day. If it is a flat $300 or a commission by the mortgage company based on the rate or buried in your closing costs. It makes no difference.
It's your finances and you need to understand the workings of a mortgage and you need to know what competitive deals are.
I don't go to a Toyota dealership and ask advice on what car to buy and/or where to finance it.......
In my field of business it is called lack of independence.