|
A third party individual who attempts to find the best available financial or other package. Brokers could be affiliated with a larger network in finance, or they may be independent.
Mortgage brokers are bound by the Financial Services Authority rules and regulations. They have to meet certain professional qualification and and service standards.
Mortgage brokers will often charge a broker fee for their advice and recommendations. These fees vary from very small to many thousands of pounds. Brokers will however also get paid a feee from the lender for referring the client to them. Therefore it is possible to find brokers that will waive their broker fee to obtain the business.
|
|
|
