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 is not covered, and at what point the fee becomes payable.
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What should a mortgage broker put on a quote?
A mortgage broker quote sets out the planned advisory and any fee before placement, such as product sourcing, application support, and lender liaison. List each service and the fee basis, since some income comes from lender commission. Note that the rate depends on the lender. The fee is an estimate until accepted.
Typical line items
- Mortgage arrangement and product sourcing
- Mortgage application submission and support
- Documentation preparation and lender liaison
- Affordability and eligibility assessment
- Protection and insurance review
- Broker fee or commission basis
- Lender and valuation fees (separate)
- Follow-up at remortgage
How the work is charged
Mortgage brokers usually quote a fixed advisory fee or earn commission from the lender, with the basis stated clearly. Lender and valuation fees are set by the lender and are separate.
Payment terms and deposits
A quote commonly proposes the fee on offer or completion, with lender fees paid on the lender's terms. The fee holds for a stated period and is an estimate until accepted, and commission disclosure is stated.
Tax and compliance
If you are registered for sales tax or VAT, show it as a separate line with your registration number. Broker fee and commission tax treatment differ by jurisdiction, so confirm what applies.
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.
Related quote templates
Read the complete quoting guide to see how to price a job and turn an accepted quote into an invoice.
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