Never used a mortgage broker before..does he normally charge you or the lender?

[ganesh]

The fees are quite substantial and are a percentage of the mortgage. I thought brokers charged the lender,or does this mean we don't pay an arrangement fee ourselves to the lender.As I'm talking about a property abroad,I'm not quite sure how to find out if I'm being ripped off or not.

[woofgang]

I think the answer is that he charges both! Ask and get the answer in writing!!!!!

[chazza]

The one I went to when setting up my first mortgage charged the lender

[R1Geezer]

he will get commission from the lender and probably some sort of arrangement fee from the borrower.

[PipinHull]

I paid a flat fee of about £120, I think she also got some commission from the lender. I always thought it was better to pay a fee - if it's commission only then how can you be sure they aren't just recommending the one that'll pay them the most? Could be completely different 'abroad' though - rules may vary wildly in different countries.