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What should I ask about a broker's fee?
Identify who charges the fee, when it is payable and what service it buys.
Identify who charges the fee, when it is payable and what service it buys. The broker, lender and an advertising comparison site can have different roles.
Request the conditions in writing, including any refund provision that applies. A fee does not guarantee an offer or approval, and local authorization rules should be checked separately.
- Identify who charges the fee, when it is payable and what service it buys.
- Request the conditions in writing, including any refund provision that applies.
Fees and optional products
Consolidation needs a before-and-after record
Check the disclosure, term, charges and mechanism in the actual offer. Foreign examples can explain a concept, but the local rules and current contract determine the applicable detail.
Definitions
- Total repayable
- Sum payable under the stated schedule and its assumptions; contingent charges and changes must be considered separately.
- Amount received
- Money actually made available to the borrower, which can differ from the stated loan amount if a charge is deducted.
Direct answers
- What should I ask about a broker's fee?
- Identify who charges the fee, when it is payable and what service it buys. The broker, lender and an advertising comparison site can have different roles.
- Which details matter for this question: what should i ask about a broker's fee?
- The broker, lender and an advertising comparison site can have different roles.
- What should be checked next concerning what should i ask about a broker's fee?
- Request the conditions in writing, including any refund provision that applies. A fee does not guarantee an offer or approval, and local authorization rules should be checked separately.