Financial Advisor / Mortgage Broker Fees

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12 Posts
14 years ago

I have just arranged a BTL mortgage (£70k) through a broker who has charged me a £300 broker fee.

Fair enough {I thought) since they did a search, filled out the forms and did some chasing. Also, that compares reasonably ok to the RLA recommended service costing £250 (but they never returned my calls!).

However, on reading the small print, I discovered that the broker is also getting a £400 kick-back from the mortgage company plus £100 from the solicitor they recommended. This wasn't explained to me by the adviser!

Am I right to feel aggrieved or is this reasonable and normal?

What do people here think?

Many thanks,


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