Bridging Loan Broker

This varies depending on the broker and on your circumstances. In most cases you should expect to pay some kind of fee, but this could be applied in a couple of different ways. Some brokers operte on a flat fee structure, where you pay an amount regardless of the size of the loan. Others may charge a percentage - often around 1% - of the overall capital amount.

Think carefully about what sort of fee structure might suit you best. If you are taking on a very large loan for example, then it might work out cheaper to look for a broker charging a flat fee rather than paying a percentage. Broker fees can vary too depending on the complexitity of your situation - they may charge less for a very simple loan and more if your requirements are more niche.

Don’t worry if you don’t have the cash up front to pay broker fees - most can incorporate them into the loan, so you won’t have to have extra money set aside.

Yes, almost certainly. A lot of people worry about spending out extra money and think that going without a broker is the sensible, cost-effective thing to do, but for most people that’s a false economy.

While yes, there will likely be a cost involved to using a broker, the potential savings that they can bring to the table by finding you lower interest rates will normally make it more than worth the investment. Don’t be fooled into thinking you’ll be throwing away money - spend a little on a broker and you could save a lot.

Choosing the right broker is key if you’re going to get the best deal. You’ll need a broker who specialises in bridging finance, so don’t just Google ‘mortgage brokers’ and pick the first person you find as they may not have the specific skills and experience you need.

If you have personal or business contacts who can offer recommendations then that can be a useful place to start, but keep in mind that a bridging loan broker who was the perfect fit for one person might not necessarily be right for someone else. No two set of circumstances are going to be the same, so think carefully about what it is you need.

If you want to find out more about whether a broker is going to be a good fit for you, the simplest thing to do is to ask them questions. Ask about their experience, ask for case studies and reviews, and for more information about why they think they are best placed to secure you the best deal.

Absolutely. One of the best and easiest ways to compare bridging loan brokers is to read impartial reviews online from previous customers. It’s one thing to read a broker’s marketing blurb, written by themselves to convince you of their expertise, but it’s another to hear honest opinions from the people who have used their services.

TrustPilot is a good place to start if you’re looking to read a range of reviews in one place. MortgageKey has had over 2,200 TrustPilot reviews to date, with an average rating of 4.8 - classing our services as excellent according to our customers.