Frequently Asked Questions
FAQ Topics

Who pays a mortgage broker?

A mortgage broker may or may not charge you a fee for arranging your mortgage and will also nearly always receive a commission payment direct from the lender.


Many mortgage brokers do charge fees for mortgage advice and there are also brokers that are ‘fees free’. You shouldn’t find any difference in service etc between them. Specialist mortgage brokers will charge fees as the types of clients they deal with tend to be more complex and therefore require more work. Generally any fee will be requested at the mortgage application stage.


The correct name for this is procuration fee. It is normally a small percentage of the mortgage amount, this figure is confirmed in any mortgage illustration and paid direct to the broker shortly after the mortgage completes. It is important to note that this fee does not make the mortgage payments or interest rate more expensive.

Who gets the money?

Any clients fees and procuration fees will be payable to the broker firm, not the adviser and go towards the cost of running that business. Different mortgage broker firms will have their own way of working and remunerating their employees. The person that provided you with your mortgage advice may receive none of the fees and commission or possibly some of it.

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