How we are paid
On receiving your enquiry we invite you to come to our offices (or if this is not possible at your place of work or home) for a preliminary meeting. The purpose of this meeting is to establish whether we can be of service to you.
There is no charge for this preliminary one-hour meeting, and no obligation on either side.
We work on a fee basis, usually at our standard hourly rate or, in certain circumstances, for a fixed fee for an agreed plan of work. At all times, we will ensure that you are fully aware of any costs involved, before a commitment is made. Fees will usually be based on time spent and evaluated at a rate per hour.
Where we move on to implement the financial plan by arranging a financial product, we will usually recommend that commission payable is rebated back into the product to improve its terms. Where this is not possible and commission is paid to us, it will be credited to your account and set against fees otherwise payable.
The Mortgage Advice Department charges fees in a similar way for our fee paying clients who are charged a fee based on an hourly rate and any fees received by us from the provider on completion will be offset against our charge.
Non fee paying clients would normally have the cost of advice covered by the product fee paid to us by the mortgage provider. If we do not receive a fee from the provider, or if the mortgage does not complete, you may be required to pay us a fee.
You will receive a key facts illustration which will tell you about any fees relating to a particular mortgage.