Mortgage Solutions and Specialist Lending Solutions highlight the top comments from readers each week.
This week in a Marketwatch piece, HD Consultants owner Howard Reuben, Rose Capital’s managing director Richard Campo and Darryl Dhoffer, mortgage and protection consultant at The Mortgage Expert debated whether broker fees should be on a par with solicitors fees.
They suggested that due to a higher volume of business and heightened property prices there should be a restructuring of procuration fees, commission, and broker fees to better reflect the increased workload.
Paul Smulovitch said: “The difference here is the perception. Most clients accept a solicitor is a necessary cost and will pay accordingly, however, regarding brokers some clients are aware they can do without or use effective robo-advice so it is being sensible and justifying the charge.”
He added: “However, as most conveyancers charge circa £1,000 for work, as a broker fee this is not unreasonable at all.”
Adam Hosker said: “[It is] your business. Charge what you think works best for your business. If you think broker fees should match solicitors and be based on case complexity, then do it.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
