How we are paid
On receiving an enquiry we will discuss with you (over the phone if you prefer), whether we are able to assist with meeting your needs and objectives. We will also discuss how we would be paid for our services should we be instructed to proceed. There is no charge for this preliminary conversation and no obligation on either side.
After the initial free consultation, we will agree with you whether you pay us a fee or are paid out of the cost of any financial product you buy (commission). We will always tell you about any commission we earn and it will be taken into account in working out our fee.
Commission is paid to an advising firm by the provider, ie the lender or the insurance company, for the successful placing of business. The commission is included within the provider's normal product charges so there is nothing you need to pay us in addition. The amount of commission is based on a percentage of the premiums payable or loans agreed.
Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs. We will always tell you about any commission we earn and it will be taken into account in working out our fee.
If you ask us to arrange a mortgage for you we normally make no charge as we are paid a fee by the lender. However if you prefer us to provide our services on a fee charged basis we would normally charge up to 0.5% of the loan amount.
Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement and no charges for fees will be made without prior notification in writing.