What are our Fees and Charges?
Insurance
We will not charge you a fee for our services relating to insurance, but we will receive commission from the product provider. The commission will be calculated as a proportion of the premiums paid for the insurance product.
You will receive a quotation which will tell you about the fees and charges relating to any insurance policy that we recommend.
Mortgages
For advising and arranging a mortgage we charge our standard fees which are usually an initial fee of £250 payable on application, plus a further fee of typically 1% of the loan amount payable when your mortgage offer is received.
Example 1; If you take out a loan of £50,000 you will need to pay £750 (£250, plus £50,000 x 1% = £500, equals £750 in total).
Example 2; If you take out a loan of £100,000 you will need to pay £1,250 (£250, plus £100,000 x 1.0% = £1,000, equals £1.250 in total).
Refund of fees policy:
- If you decide not to proceed, prior to a decision/agreement in principle being issued, we will not charge you a fee.
- Once a decision/agreement in principle has been issued, the £250 initial fee applies which is payable on application, but we will not charge you an additional fee, unless a mortgage offer is received, or unless the lender rejects your mortgage application due to you not disclosing any material information about your personal situation.
- Once a mortgage offer is received, our fees are non-refundable in any circumstances.
If you choose to proceed with our recommendation and the mortgage goes ahead, we will also be paid commission from the lender for arranging the mortgage on your behalf.
The amount of commission we receive varies from lender to lender. Information about the range of commissions available to us from the mortgage products we recommend is available on request.
You will receive a personalised illustration when considering a particular mortgage. This will highlight the key facts about the mortgage product, including any fees relating to it and the amount of any commission due to us from the mortgage lender.
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