Mortgage Broker for Remortgage

[ajack 1]

I've just received a quote to remortgage a residential to a BTL mortgage with tenants in common. The broker has quoted £800 with £300 paid up front and the rest on completion. Is this normal? My last broker charged around £300 on completion for a residential mortgage so this seems high. Looking for advice if this is normal?

Many Thanks

[Stuart Phillips 254]

There really isnt a normal. Fees vary dramatically between brokers depending on how they work.

Ive come across brokers who charge £2500 a case. Some still dont charge fees. I think £300 to £500 is about average though, unless theres something particularly complex (A BTL remortgage is not complex...) such as commercial, adverse credit etc.

[ajack 1]

1 hour ago, Stuart Phillips said:

There really isnt a normal. Fees vary dramatically between brokers depending on how they work.

Ive come across brokers who charge £2500 a case. Some still dont charge fees. I think £300 to £500 is about average though, unless theres something particularly complex (A BTL remortgage is not complex...) such as commercial, adverse credit etc.

Thanks for that Stuart