Owning your own home

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Howard in reply to @Hefty

In theory 99% is computerated but in practice a good broker will earn their money by knowing which bits of lender's criteria can be bent a bit, by talking to underwriters, by working proactively and by generally being wise and experienced.

Only if the case demands it. If you have regular finances it will probably not, and the broker simply acts as the pre-sales and sales department of the provider as MMR pretty much requires them to do.

As before: in some cases a super-specialist fee charging pro broker will be helpful! For the rest of us they will not be worth the top-up fee because they are simply not providing any additional value beyond administerial.

Before MMR the internet nearly killed 'em off.

A bit like every other service job.

Huh. Yeah. Of course, and some services are charged at different rates than others because they are more valuable. Basic mortgage origination is pretty darn cheap once you have the hardware and the marketing end sorted out :)

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Hefty in reply to @Howard

I think we're agreeing. :)

Except you sometimes don't know if you're in the 1% until part way through the application.

Id also say it's more like 10% than 1% these days.

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