Cashback Remortgages · Choosing advice
How Mortgage Broker Commission Works
Many brokers, including fee-free ones, are paid a commission (procuration fee) by the lender. Understanding this explains how free advice is funded.
How it works
When a mortgage completes, the lender typically pays the broker a procuration fee, usually a small percentage of the loan. This is how Cashback Remortgages can offer free advice with no broker fee to you.
Brokers must disclose how they are paid.
What to expect
You should be told about any fee you would pay and how lender remuneration works. A broker recommending a suitable mortgage should not be swayed by commission differences — ask if you want reassurance.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.