We believe you should only pay for what has been helpful, so we only bill our clients after a significant amount of work on your mortgage has already been done. We typically expect the first payment only once the application has been submitted.
It is only at application stage that we would charge the first part of our fee, typically £495. If applicable, any remainder would be collected once the mortgage completes.
This fee also covers the dedicated sales support team that process the application, liaising on your behalf with the lender, the valuer, the estate agents and the solicitors.
This helps to ensure the process goes smoothly and all parties work together towards the desired completion date.
In detail, a “significant amount of the work” means that we have completed the following stages:-
- Spoken to you and identified that we can assist
- Held a detailed consultation where we have completed a full confidential fact-find to ensure we have all the information to enable us to make a recommendation
- Undertaken the necessary research to establish which products would be suited to you and, perhaps more importantly, which lenders meet your criteria
- This search takes into account standard mortgage products, those available only through brokers, our own exclusive products, and those available through private banking institutions
- Presented our findings and provided you with detailed advice
- Produced a ESIS document which details the costs involved and monthly payments
- Approached the lender and obtained an Agreement in Principle subject to full underwriting and valuation, where this is possible
- Obtained all the necessary documentation from you required by the lender and checked for inconsistencies
- A full mortgage application has been completed and submitted to the lender