We are able to offer a fee free
service to most of our clients.
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How
do we earn?
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All
mortgage advisors are paid a
procurement fees (also called
Proc. Fees in short) from the
lenders to which we put through
your mortgage application. The
amount of proc. fee we get depends
on the lender, your circumstance,
the amount you are borrowing
and other such factors.
Similarly insurance companies,
pay us a commission which is
based on the monthly payment
you make, the term of your insurance,
the insurer we put you through
to etc.
We are happy to get this from
the lender / insurance provider
and not charge you any fees.
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Are we going to be biased?
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Mortgage
advisors are expected to not
provide advice based on what
they earn but in the best interest
of the client. We are hard core
believers of this and always
let you know of what we will
earn from your case and before
recommending a lender / products
we show you what options you
have and why we are recommending
a specific lender / product.
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Can you pay a fee?
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If
you are still not convinced
that we could give you an unbiased
solution, you may chose to pay
us a fee of 0.80% of the mortgage
amount and once you do this,
we will refund any commission
we get from the lender. While
this will ensure you get an
unbiased advice, this might
not be the cheapest option for
most clients. |
Fee FREE service to
MOST client - what about the
rest?
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When
we say we are able to offer
most of our clients a fee free
service you might be tempted
to know why. |
Each case is unique; some are
more complicated than others,
so it might become unavoidable
that we have to charge a fee
in some case.
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Cases where we don't charge
any fees,
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Straight forward Re-mortgage (Residential mortgage with no issues in proving income, |
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property type & credit score) |
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Mortgage for a property purchase where associated insurance is arranged through us |
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Where you want us to arrange the Insurance only (including just home insurance) |
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Cases where we may be forced
to charge a fees,
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Is there going to be
clarity in the fees?
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Where
we are forced to charge a fee,
we will clearly explain the
reason as to why we need to
charge a fees, what is the fee
we will charge, when this will
be payable, if this fees is
refundable or not, if yes what
are the conditions.
Usually at the end of the first
meeting (where we find out more
about you and your requirement)
we will explain if a fee will
be applicable, however in some
rare circumstances, this will
be identified only as we work
on the case, and in all cases
we shall let you as soon as
we potentially can and will
never let this come up as a
surprise. |
Some voluntary fees
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There
have been instances where despite
offering a fee free service,
the clients on completion have
been happy enough with our service
and have paid a voluntary payment
or gift cheques / gift vouchers.
More than the money value in
this, we are happy that these
clients are happy with our service.
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Please do not use us, simply
because we are free
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We
take pride in what we do and
are happy to offer a transparent,
flexible, professionally yet
friendly service and are able
to give you a choice of product
from a large panel of lenders.
Of course we offer a fee free
service to most of our clients
but never think that is the
reason why you should chose
us for your mortgage needs.
Click
here to know what the other
reasons to use us are. |
Being Independent Mortgage Advisors, we give you an option
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Having said that we are independent mortgage advisors, we also give you an option to pay us a fee of 0.80% of the loan amount. If you decide to take this option, we shall refund all the proc fees / commission we earn from the lenders. Despite the fact that many of our clients have usually preferred to pay no fees to us and let us keep the proc fees that the lenders pay us, we do give you all our clients the option to pay us the 0.80% of the loan amount and then we pass over the proc fees that the lenders pay us. We will discuss this in more detail during our meeting with you. |
