mortgage advice

How We Are Paid

Mortgages

You do not have to pay us a fee, we will be paid a commission by the mortgage provider on completion of the loan. The amount of this payment shall be disclosed to you at the outset. The commission we earn is not paid by you in any way, and it does not affect the rate that you receive, and it is not added to your mortgage. It is basically a low cost way of the lender ensuring that they can attract new customers without relying on them walking through their doors.

We do not like to charge you a fee if we do not have to, because we are receiving payments from the above sources for arranging your new mortgage. However, we may charge a fee depending on the amount of work involved. If a fee applies to you we will make you fully aware from the outset. The maximum fee will be 0.5% of the mortgage. It is our opinion that the fee should be charged on the amount of work involved rather than the size of the mortgage.

Lastly you could choose to pay us a fee of 0.5% of the mortgage upfront, and any commission we receive from the lender will be refunded to you. Any fees paid upfront will not be refundable, even if the mortgage does not progress to completion.

Protection

We are paid commission by the protection company for any protection we arrange for you. This amount can be clawed back from us by the protection company if you do not keep up the premium payments for up to 48 months, depending on the companies rules.

Please do not hesitate to ask if you are unsure of what fees you will need to pay as we try to keep our fee structure as straight forward and simple as possible.

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