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.