On a simple, straightforward mortgage would I get the best deal shopping around and going to the company direct or do agents get 'better' deals than the general public?
An agent has to be paid from somewhere and I prefer not to be the payer, either direct up front or indirect in my mortgage.
Mark BR
You won't get a worse deal from an 'agent', as you call them, but you may well get a better one. Some are only open to 'agents'. The fee that he gets paid by the lender does not affect the deal, so your premise that he has to be paid from somewhere is correct but does not have the effect you suppose.
Rob Graham
Are you sure about that? I saw an advert for a broker who charges a 2% "mortgage arrangement fee"!
I'm talking about the fee the lender pays the 'agent', not what the 'agent' may or may not charge the borrower. My point is that the product offered by the lender is the same whether or not the borrower goes direct or via an 'agent', except, of course, for deals which are only available through 'agents'.
Incidentally, the word 'agent' as used by the OP is likely to be a misnomer, because an agent is someone who's an agent for a firm (generally speaking). The lender may have agents but if the borrower goes to an IFA then he's not using an agent because the IFA does not represent the lender.
Rob
Recommend OP checks out
HTH
Simon Clark Business Telecoms
Right, but if the broker charges the borrower a fee then the borrower could end up with a worse deal than going direct, as he might have avoided having to pay the broker the fee. The OP said he wanted to avoid paying any extra by going via an agent (/broker).
I suppose he could always ask for quotes from both brokers and direct with lenders.
I think we're going round in circles here. Apart from anything else, not all brokers charge fees.
Rob
Another consideration
Owing to crisis mortgage arrears 2 years before mortgage arrears but clear 24 months
Broker 1 no fee sub prime lender
Broker 2 £500 fee applied to high street lender. turned down flat. Then lots of persuasion andd time from broker and put forward special case and bank statements for 6 months etc and Mortgage granted. Difference in interest 1.5% Cost difference over long term £12,000! Offset mortgage which I wanted.
Direct to HSL flat refusal
Did I prefer to be a payer of broker fees at a reward ratio of 24 to 1? Is the pope a catholic?
HTH Phil
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