Financial Advisor / Mortgage Broker Fees

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J
JimBob
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I have just arranged a BTL mortgage (70k) through a broker who has charged me a 300 broker fee.

Fair enough {I thought) since they did a search, filled out the forms and did some chasing. Also, that compares reasonably ok to the RLA recommended service costing 250 (but they never returned my calls!).

However, on reading the small print, I discovered that the broker is also getting a 400 kick-back from the mortgage company plus 100 from the solicitor they recommended. This wasn't explained to me by the adviser!

Am I right to feel aggrieved or is this reasonable and normal?

What do people here think?

Many thanks,

JB

07/09/2009 00:00

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