What are your fees?
Mon, 29 Oct 2007
Our charges are mainly success fees based on obtaining you a formal sanctioned offer of a commercial mortgage, bridging loan or property development finance from a lender.
Our charges are mainly success fees based on obtaining you a formal loan offer from a lender.
The terms of use in respect of the loan finder service provided on this site are set out on the legal page but in summary, if you make an enquiry through this service we will contact the lenders you have selected together with any others that we believe may be suitable. We will seek offers of finance from each lender and will notify you of each offer that we receive.
If you then wish to proceed further we will ask you to pay an administration fee of 0.1% (subject to a minimum fee of £100.00) plus VAT to cover our costs in processing your initial enquiry to this point, on receipt of which we will forward copies of the offers received to you.
We will then work with you in completing application forms, dealing with valuers and submitting paperwork to the lenders to obtain a formal offer of finance on acceptance of which we will charge you a success fee of 1% (one percent) of the gross facility provided by the lender, less the administration fee paid above.
This fee is strictly a success fee and, as such, is only payable if you accept a formal offer of a finance facility arranged and/or introduced by us.
Our invoice may be raised on a lender issuing a sanctioned offer of funds and is due for payment on the earlier of completion of the loan, commencement of drawdown of funds or 30 days from the date of invoice.
Some fees may be subject to VAT.
You may of course contact us without submitting an enquiry through the loan finder service on this site, in which case we will carry out our work on our normal terms of business which will be supplied to you.
Any fees payable to us are in addition to any other costs which you may incur (such as valuation fees for example) relating to securing a finance facility and which will always be your responsibility to settle.
The above fees are in addition to any introductory commissions which we receive from lenders.
Click here to use our loan finder service.
