Friday, Nov 28, 2008
What is it like to be a mortgage broker?
BBC: What is it like to be a mortgage broker?
The usual serise. Actually, this particular broker seems have some decency. She claims she would recommend the best options (SVR, negotiating with lenders directly, etc) for the customers, even if that means, as a result, she doesn’t make a commission fee, which itself is the bizarre consequence of credit crunch.
Posted by peter_2008 @ 04:50 PM (366 views) Add Comment
2 Comments
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1. jack c said...
Mortgage Brokers (ie those who deal exclusively with introducing mortgages to lenders) will struggle to make a living in the current market - they might be in with a chance if they end up as the last man standing.
2. fjcruiser said...
A mortgage broker (as regulated by the SFA) should always be recommending the best option for their customer, credit crunch or not. The fact they are paid by the lender creates a serious conflict of interest. As a customer, I would rather pay a fee meaning the mortgage broker works for me and not for himself by choosing the lender who will give him the highest kick back.