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I am meeting a Mortgage Broker tonight. With the information and recommendations she makes, do I have to take out a mortgage with this broker or can I go directly to the Financial group she recommends.
Why - did she not get the best deal for you?She also sourced insurance(house and life) for me. But I would advise you do these yourself - I renewed my house insurance with a different company.
There are not really any extra benefits in going directly to the lending institution yourself - in fact the broker probably has contacts at the banks and can push the mortgage through if the multiples are tight.
There should be no cost to you for using a mortgage broker so if they want to charge a fee then don't use them. They are paid a percentage of the loan value from the institution (1% I think).
.If you are a FTB looking 92-100% then its no advantage to use a broker as they have nothing to work with
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theres no advantage in going with a broker, the same rates apply if you go direct or go via a broker. .
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