An independent mortgage broker has access to the full range of products and services available in the UK. A Tied Agent or Company Representative may only advise and offer products from the company they represent. In contrast, we do not act for the mortgage company – we act as a representative of you, the client. The main difference is that we work on your behalf, not on behalf of the mortgage company.
Because we are independent we have access to the Whole Market with thousands of different mortgage products to consider when looking for your specific mortgage solution. A tied agent has just the one – and If all you have is a hammer, then every problem gets solved with nails!
We are able to give impartial advice to help you solve your financial planning problems and maximise your opportunities. In this way we are able to give you choice, value for money and quality service.
For mortgages we can be paid by commission or fee. If paying by fee, this is typically not more than 1% of the advance, which will be agreed in advance. For example, a mortgage of £100,000 at 1% the fee would be £1,000. If the mortgage does not complete, no feel will be charged unless otherwise agreed at outset.
The initial meeting is free and we will inform you at that meeting whether any fees will be payable. We work on a ‘no mortgage, no fee’ basis.