Survey says broker fees hit an average of 0.93% of the loan amount
Brokers that specialise in arranging complex mortgages such as large loans, let-to-buy's and buy-to-let's, charge an average fee of 0.93% of the mortgage advance.
This is according to the latest Mortgage Broker Fee Survey 2015 of 20 leading brokers.
The survey found the lowest broker fees to be 0.5% of the amount borrowed - rising to a hefty 1.5%. A reported 70% of the mortgage brokers surveyed charged a typical fee of 1% of the mortgage advance or more.
Aaron Strutt, product manager at Trinity Financial, says: “As the survey points out broker fees often vary by quite some margin, but Trinity’s typical broker fee is £495 and we receive a commission from the lender.
“If you think you are paying more than necessary, feel free to call us to find out if you can get a better deal.”
For help to secure a leading mortgage, call Trinity on 020 7016 0790.
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
