30 May 2022
How Much Can I Borrow for a Mortgage?
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Many brokers do not charge fees, relying solely on commission to get paid. However, some brokers may charge various fees, such as commitment fees, administration fees, etc., that they refund after settlement. These fees are to help give them some income in case it takes a while for the settlement to be finalised. These fees also help ensure they are paid for the research, advice, and consultation for borrowers if the borrower turns to a different mortgage broker. As a result, most mortgage broker fees are non-negotiable.Â
If your broker charges fees, they may impact the final cost of your home loan. Instead of trying to negotiate these often refundable fees, try negotiating some of the following:
If you are looking for a mortgage broker with honest, upfront fees that can find you loans with lower interest rates and better features, call the experts at Mortgage House.Â