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Our Service


SERVICE PROPOSITION 

Our confidential advice and recommendations are free with no obligation. However, we do charge booking fees of £150 if you wish us negotiate, package and present your application (payable at application). For residential mortgages we also charge a flat brokerage fee of £495 payable once we have obtained a formal offer of finance from the lender for you. Both these fees are non-refundable and are for work we agree to carry out for you. This makes a total of £645 for our residential mortgage service (See our Initial Disclosure Document, IDD and our website www.mortgage-market.co.uk for more information). For complex residential and for commercial financial advice we may charge a negotiable brokerage fee of up to 1% of the formal finance offer obtained depending on the complexity of the case and size of the loan amounts required. We will detail the expected fee(s) prior to carrying out any detailed work for you. We accept payments direct into our bank. If a client wishes to pay by cheque, there will be an additional handling/admin fee of £15

In addition, recommended lender(s) will usually pay us a fee which is, typically, 0.3% of the loan for residential mortgages and up to 0.5% for investment/commercial mortgages. All fees and charges are declared to you and are fully transparent before we act for you. For example, a typical £200k residential mortgage arranged via us would earn our company some £1,245 (£645 from the client and £600 from the lender), which in this example is equivalent to 0.623% of the loan amount. The lender(s) usually pay us a fee for carrying out pre-assessment, initial underwriting, introduction, administration and taking full responsibility for the advice and recommendations as regulated by the Financial Conduct Authority (FCA), the Financial Ombudsman Service and the Office of Fair Trading.

We hold Professional Indemnity insurance for your protection which covers residential and commercial financial advice. The lender(s) fee does not affect the mortgage or finance product(s) recommended. We aim to source and provide the most appropriate finance for you in terms of suitability, features, benefits and costs. You may be able to access the recommended product direct from the chosen lender. However, in many cases this may not be possible due to exclusive intermediary arrangements or your chances of success may be significantly lowered as your own presentation may not be suitable for the lender’s underwriting requirements for direct applications.

We are “whole of market” independent brokers. Should our research suggests a mortgage product from a lender that does not accept business from intermediary brokers or clubs, we will tell you and provide detailed information about that product. However, in these circumstances you would need to make a direct application. We can guide you as to their underwriting criteria and how best to present your application to them for a fee of £200.

We will advise you about appropriate insurances with detailed quotations for no fee. Your home is at risk if you fail to keep up payments on a mortgage or loan secured on it. We have long established relationships with other professional service providers, such as IFAs, Tax Advisors, Accountants, Solicitors and various Professional Consultants and can recommend these trusted providers to you if you require such services.

We do not usually visit our clients as all is dealt with over the phone and by email (recorded for the avoidance of any doubt). We provide a remote professional service, no advisors or sales persons will call. We may wish to meet you to establish your identity and discuss “face to face” depending on the complexity of your needs. You are welcome to visit our office any time by appointment.

It is vital to control how and what information is matched and presented to the most suitable lender to ensure success with speed and the best possible value. A recent copy of your credit file will help us in this. You can get a copy of your credit file from www.experian.co.uk and from www.equifax.co.uk for a small fee. We will not carry out a credit search as this will leave a “footprint” on your credit file which could reduce your credit score with some potential lenders in the future.

When your finance has completed, we will ask you to fill in a short survey to help us improve our service. Once we have provided a service to you and you are fully satisfied, we trust you would recommend us.




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Mortgage Market Limited is directly authorised and regulated by the Financial Conduct Authority
Your Home is at risk if you fail to keep up payments  on a mortgage or loan secured on it


Mortgage Market Ltd is a private limited company.  Registered office at Sawood House, Sawood, Oxenhope, West Yorkshire, BD22 9SP

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