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Finding A Financial Adviser
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How do you find a finacial / Mortgage adviser and how much would you expect to pay for a mortgage to be arranged?
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Yellow pages / thomson directories under motgage brokers.
Costs depends on where you live - in Lowestoft (where I work and we have a mortgage broker) it will cost you nothing - the lender will pay him around �250.00
In London it can cost �500 (on top of the money given by the lender)
Try to go to someone not tied and who uses a program like Mortgage 2000 which searches pretty much all lenders.
Independant Financial Advisers get their money by kick backs on selling a product. They don't cost you anything. And they can't be seen to recommend bad products either.
Mortgage setup costs are set by the lender and vary considerably. Our latest one is �350 to go onto a 2 year fixed rate with Nationwide. Some lenders will happily bolt the setup fee onto the end of the mortgage so your initial outlay would be nothing.
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