Free Mortgage Broker Quote Template
Mortgage brokers quote their arrangement fee upfront because the lender also pays commission, and clients have a right to know how their broker is remunerated. A clear quote sets the broker fee, what is and isn't covered, and at what point the fee becomes payable.
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Frequently asked questions
How much does a mortgage broker charge?
Mortgage broker fees in Europe range from €500 to €2,000 for a residential mortgage. Some brokers offer a free service and earn commission only from the lender (typically 0.35% to 0.4% of the mortgage amount). Fee-charging brokers typically charge €800 to €1,500 for complex or commercial mortgage cases.
When is a mortgage broker's fee due?
Typically on completion of the mortgage. Some brokers charge a non-refundable upfront fee of €150 to €350 at application to cover research and preparation time. The balance is due on successful completion. State clearly in the quote what happens if the mortgage falls through before completion.
What does a mortgage broker's quote cover?
Specify: initial fact-find and affordability assessment, whole-of-market research, lender recommendation report, application preparation, document gathering, lender liaison during underwriting, and support through to offer and completion. Brokers who only compare a panel of lenders should note this in their quote.