What we charge
As Independent Mortgage Brokers we give you the choice of paying no broker fees at all or pay an upfront fee of £1,000 and have all commission refunded to you on completion of the mortgage.
Here are some of the most popular questions relating to fees
Q. How do you get paid?
A. In the vast majority of instances we get paid by the banks and building societies for introducing customers to them. As Independent Mortgage Brokers we also offer you the opportunity to pay an upfront fee of £1,000 and have all of the commision paid to us by the lender returned to you.
Q. I am not interested in paying an upfront fee. How much will it cost me to use your services?
A. Nothing. Not a penny. We will be paid by the lender and we do not charge you any extra.
Q. How can I be sure that you will see my mortgage through to completion?
A. It is simple really. We do not get paid until your mortgage goes through. Unless you have chosen to pay an upfront fee. Otherwise, if your mortgage does not go through for any reason (even if you just change your mind) we will not be paid.
Q. So there are no fees payable ?
A. Be careful. There may be fees payable to the banks for valuations and for setting up costs but these are payable regardless of whether you use a broker or not. What we are saying is there is an option to pay no fees for getting professional advice from ourselves.
Q. Seems to good to be true
A. Not really. Without you we would have no client to refer to the lender. In turn the banks and building societies get a good client and most importantly you get the right advice on which is the most appropriate mortgage for you.
Q. I want to pay an upfront and claim back the commission. How does this work?
A. You pay the fee with the application. We will refund it to you if you do not get an offer but once the offer is made the fee is payable. If we are unable to get you the offer you want we will refund the fee. Once the mortgaage has completed we will refund any commission we receive to you.
Q. Could I get back more than my upfront fee?
A Possibly, it depends on the size and complexity of the mortgage. However, you must be aware that should the mortgage not complete you will not be given any refund.