A. £495, only payable upon ‘full mortgage application’.
Being British, we don’t like to speak about paying for services too openly.
However, the Financial Conduct Authority, my regulatory body, requires that fees payable are published in an open and honest way, and stated at the earliest possible moment in the process.
So what do you get for your fee*?
Well, firstly, you get the full use of my 40+ years of experience in the UK mortgage and protection industry.
We then complete the fact-find form, you agree to pay the broker fee by signing a Client Agreement to formally instruct me to work on your behalf, and then you provide the items requested (to prove identity, residence and income for each borrower). You then have access to my full research facilities to search the whole of the UK mortgage marketplace.
I match your needs, requirements and circumstances to lenders’ criteria, so we end up with a perfect match, that results in you getting the most suitable mortgage product available to you.
Once I have identified the lender for you, I then complete the Decision in Principle application for you to obtain the lender’s agreement to actually lend to you.
Now, bearing in mind that the above can take many hours (if not days in some cases) to complete, by the end of the above stages, you will know exactly that there is a suitable lender for you and that their product is the most suitable for your needs. (As the broker fee is only paid ‘upon application’, you could walk away at this stage and not pay for all the above to happen).
Once this whole process has been completed, and you are happy, and the lender is happy, we are ready to progress to the ‘full mortgage application’. As I’d already have received all your information and items by this time, I can then commit your information onto the full mortgage application, immediately after which I will invoice you for my professional services.
I continue to liaise with the mortgage lender, solicitors, (and estate agents if a purchase) and yourself until the whole process is completed. You have full access to me during this period, although it’s more probable that you’d hear from me more than I’d need to hear from you!
Typically, a whole case takes around 20 hours to fulfil, and is spread over a 4-6 week period.
Think I’m not worth the fee? These people thought I was!
Now this question has been answered, why not call me now?
Let’s get the ball rolling for you !
* £495 fee applies to Residential and Buy to Let purchases and re-mortgages only.