How much do mortgage brokers charge?

Get an instant personal mortgage recommendation through Changemymortgage and up to £500 in cashback

When you’re looking to get a mortgage or remortgage, you might be wondering, “How much do mortgage brokers charge?” The answer is it depends. Let’s dive into the various models and highlight why ChangeMyMortgage offers a truly unique and beneficial option for borrowers.

Different Fee Models Explained

Mortgage brokers generally operate under a few common fee structures. Some brokers charge a straightforward fee for their services, typically between £300 and £500. This fee is in addition to any commission they receive from the lender for arranging your mortgage.

On the flip side, many brokers don’t charge any fees to customers. They rely solely on the commission from the lender. These brokers can still offer a good service, but it’s essential to ensure they’re truly independent and have access to the full range of mortgage products available on the market.

What Makes ChangeMyMortgage Different?

ChangeMyMortgage stands out from the crowd with a unique approach. Not only do they offer their services without any fees to you, but they also provide up to £500 cashback. This means you don’t just avoid fees; you actually get a financial boost just for using their service. It’s a win-win!

ChangeMyMortgage is also fully independent and accesses the whole of the mortgage market. This means they can compare deals from a wide array of lenders, ensuring you get the best possible deal tailored to your needs. With ChangeMyMortgage, you’re not limited to a small pool of lenders, so you’re more likely to find a mortgage that saves you money in the long run.

Why Choose an Independent Broker?

Going with an independent, whole-of-market broker like ChangeMyMortgage means you get an unbiased view of the best deals available. Brokers who are tied to specific lenders may not offer the most competitive rates because they’re limited in what they can recommend. An independent broker, on the other hand, searches across all lenders to find the mortgage that best fits your financial situation and goals.

Choosing an independent broker ensures that even small differences in mortgage rates can lead to significant savings. For instance, a slight reduction in the interest rate on a mortgage can add up to thousands of pounds in savings over the life of the loan. This makes the expert guidance and broad reach of a broker like ChangeMyMortgage incredibly valuable.

The ChangeMyMortgage Advantage

ChangeMyMortgage makes the mortgage process easy and rewarding. Their fee-free service and cashback incentive set them apart from other brokers. You don’t have to worry about paying extra fees, and you actually get money back for choosing them. It’s like getting paid to save money!

In addition to these financial benefits, ChangeMyMortgage offers a streamlined and hassle-free experience. You can upload your documents and verify your ID online without lengthy forms, making the process quick and convenient. With 24/7 access to mortgage recommendations, you can find the best deal whenever it suits you.

Conclusion

The cost of using a mortgage broker can vary, but with ChangeMyMortgage, you get a fee-free service plus cashback, making it a smart choice. Their independent, whole-of-market approach ensures you have access to the best deals, potentially saving you thousands of pounds over the term of your mortgage. With ChangeMyMortgage, you not only avoid extra costs but also get a convenient, efficient, and rewarding way to secure your mortgage.

ChangeMyMortgage is the UK's first automated mortgage platform for existing mortgage holders, we've made the process a breeze. In just 15 minutes*, Our unique technology will provide a personal mortgage rate from your existing mortgage lender and also from the next best lender and recommend if it’s best to stay with your existing lender or move. We are at hand to provide free mortgage advice and also up to £500 in cashback, making the decision even sweeter.

You can begin your application here fill in a few details and the end of the 15 minutes* you will have a unique mortgage recommendation generated for you from your existing and next best lender.

*15 minutes is based on average completion time. Cashback is subject to completion of a mortgage through Changemymortgage.