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On receiving an enquiry we will discuss with you (over the phone if you prefer), whether we are able to assist with meeting your needs and objectives. We will also discuss how we would be paid for our services should we be instructed to proceed. There is no charge for this preliminary conversation and no obligation on either side.
After the initial free consultation, we will agree with you whether you pay us a fee, or we are paid out of the cost of any financial product you buy (commission). We will always tell you about any commission we earn, and it will be taken into account in working out our fee.
Commission is paid to an advising firm by the provider, ie the insurance company, for the successful placing of business. The commission is included within the provider's normal product charges, so there is nothing you need to pay us in addition. The amount of commission is based on a percentage of the premiums payable or loans agreed. No fee is charged for advising and arranging either general insurance or individual protection products however a fee may be charged for corporate advice.
Most mortgages offer the broker a commission for placing your mortgage with them. As an alternative we offer clients an option to pay by a fee which is calculated on a percentage of the loan, currently 0.5%. We would then refund any commission we receive from the lender for that mortgage. If the mortgage is an adverse case (i.e. where your credit history may not be intact), therefore more work and time is required, the fee will increase to 1.0%.
In the rare instance that the lender does not offer a commission we would charge an advice fee of 0.5% of the loan obtained payable on receipt of a mortgage offer.
In all cases, if you ask us to arrange a mortgage for you we charge an administration fee of £295 for residential mortgages and £395 for Buy to Let mortgages. Its normal for a fee of £100 to be paid on application with the balance due upon receiving a mortgage offer.
Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement, and no charges for fees will be made without prior notification in writing.