For most of our day to day business the insurers, banks and lenders pay us a commission/brokerage when you draw down a loan or take out a policy. So usually our service is paid for by the lender/insurer. The banks/lenders/insurers pay us a commission because we are a cost effective way of introducing business to them and we do all of the initial work of introducing you to them.
There are rare times we do charge a fee, this may be to cover work done whereby we do not get paid a commission by the lender. Fees are always agreed upfront if charged at all. Situations that may incur a fee are:
* A bit outside the square such as bridging finance (sometimes) and asset lends
* A lender that doesn’t pay us brokerage that we used as your situation is ‘outside the square’
* Commercial finance, sometimes personal loans
* Caveat loans, development finance, business lending.
We would always discuss any fee up front and payment is often made when a loan is drawn down unless otherwise stated.
We do prefer that any applications with our lending partners come via us, otherwise a fee may apply if using our service simultaneously with another bank or broker.
You can call us on 0800 000 517 or email Craig.
Contact us to discuss your options today.