Broker fee
Mortgages & secured lendingA fee charged by a broker for arranging a mortgage or loan.
Overview
Some brokers charge a flat fee or a percentage.
Others are paid by lenders and charge no fee.
Why it matters
- It increases the total cost of borrowing.
- It can be worth it for access to better deals.
- It should be disclosed upfront.
FAQs
Do all brokers charge fees?
No. Some brokers are paid only by lenders.
Is a broker fee refundable?
It depends on the broker agreement.
Related terms
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