Mortgage broker fees

[Daftmum47]

A mortgage broker is charging me £995, seems a lot. Is this within the range of normal?

It could be a slightly complicated mortgage - sole trader, applying for mortgage on my widow’s pension - so I accept some advice is handy!

@Deezeboob

Of course you'd recommend always using a broker, but people need to be wary and do their own research.

We tried to use a broker, but they completely ignored the type of mortgage I wanted and were quite rude when I explained why we wouldn't be taking any of their recommendations.

I wanted a lifetime BOE tracker, which I found myself and until about a year ago, still had the same product as the rate was always 1% or lower.

They offered short term discounts off the lenders SVRs, which would have cost us thousands of pounds more over the lifetime of the mortgage.

Not all mortgage brokers charge an initial fee. Check out https://boonbrokers.co.uk/mortgage-broker-costs/ to get an idea on how it works. I hope this helps :)