Your home may be repossessed if you do not keep up your repayments on your mortgage
Application Fees
Our fees are not refundable if the application is withdrawn, valuation issues or terminated due to non-disclosure, incorrect information or failure to provide documents
Offer alteration such as property and/or product £99 plus any lender fees (if applicable) such as new valuation.
Offer extensions £59 plus any lender fees (if applicable) such as new valuation.
Why we charge?
Lenders pay a procuration fee for the application we submit. We do not have any arrangements where you pay a higher rate of interest for us to in return get a higher procuration fee and neither do we lean towards lenders who pay better. We offer a whole of market proposition and the aim is to get the most appropriate solution for you. The procuration fee from the lender is effectively to pay for our time to process your application. But what about the time we have to invest even before we decide on a lender? The time it takes to find not the first solution, but the better one that saves you money? Our research is aimed at two things:
Yes the initial discussions are free and we appreciate we need to demonstrate our professionalism and knowledge before you can decide on whether we are right for you. Due to our commitment to offering a high standard of service, there will come a time when we will need commitment from our customers that they will be using us. At that stage £99 will be payable and a Decision In Principle provided. Should you then proceed to a full mortgage application within 6 months, this will be offset against our application fees. Some customers will talk to several advisors at the same time. Mortgage advisors do not lend from their own funds and all have the same criteria restrictions as well as regulations. Its like a solicitor – they must operate using the same laws and regulations. A better solicitor will simply be aware of more legal regulations and have better statutory interpretation to achieve the desired result. We could spend many hours on your case only for you to select another advisor for the wrong reasons. So there will come a time where we will be happy to withdraw and let you continue with another advisor whilst we focus on those who wish to work with us. We fully appreciate we will not do business with every person we speak to, but we certainly want to look after those who do business with.
Mortgage Quotations?
Although initially we may provide you a basic sample of the monthly costs, we do not produce quotations. In fact no one produces quotations, only Mortgage Illustrations at the appropriate stage. What’s the difference? A quotation is for someone shopping around thinking Supplier A may supply goods cheaper than supplier B. However advisors are only suppliers of advice not the product. So although many should have access to the same supplier and product, it’s really a question of their expertise to guide you to the right solution, any associated advice and successful implementation. And mortgage illustrations should only be provided once your situation has been fully assessed and we can make a judgement as the most appropriate solution for you. The interest rate will be what it is as determined by the lender. We will initially shortlist all the lenders that we feel will work for you and then select the most economical one for you. If anyone provides you with a full mortgage illustration before looking at your circumstances, can you really rely on that specific illustration or product?
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