"Friendly, helpful, put us at our ease, really easy to talk to"
Mr & Mrs C., Tipton, West Midlands
Mortgage Broker Fees are fees payable by the borrower to the broker for arranging a mortgage. Some brokers require an upfront fee, whereas other mortgage brokers, such as ourselves will only charge a mortgage broker fee upon completion of the borrowers mortgage.
Here we explain more about Mortgage Broker Fees, why they are charged, and how we might be able to help you with a Mortgage or Remortgage.
Table of Contents:
As mentioned in the introduction, a Mortgage Broker Fee is a charge to the borrower by the broker for arranging a mortgage on their behalf.
As you are probably aware, for your protection, Mortgage Brokers are highly regulated these days, and just like any other professional, they will have practice costs to meet, in order that they can provide a first class specialist service for their customers.
So if you have decided to use an Intermediary to arrange your mortgage funding, you will usually find the Broker will charge Mortgage Broker Fees for the work they carry out.
Here at Shire Direct, you are safe in the knowledge that all our senior managers and mortgage advisors are professionally qualified, and hold at least two of the following professional qualifications.
These qualifications, together with our policy of ongoing rigorous and continual training, are designed to ensure you receive top quality service and advice.
We have fully embraced the Financial Services Authority 'Treating Customers Fairly' initiative here at Shire Direct, which ensures our customers receive only suitable and appropriate advice and recommendations, in a manner that is clear, fair and not misleading.
Shire Direct Mortgage Advisors will ensure that they fully understand your circumstances, needs and aspirations before giving any advice or recommendation. Similarly, the Advisor will also make sure that you understand the terms of any arrangement and how much will be charged.
As far as our mortgage broker fees are concerned, our fees are dependent on your circumstances. We charge between a minimum of 0% and up to a maximum of 4% of the total loan amount. An indication is typically 1.8% of the loan amount.
We will only charge our Mortgage Broker Fee upon completion of your mortgage. You'll be glad to know that Mortgage Broker Fees are not payable if we are unable to arrange a mortgage for you, or if the purchase does not proceed.
Hopefully, we've answered your questions regarding Mortgage Broker Fees. If you are thinking of applying for a mortgage or remortgage, and require any information or assistance, we would of course be delighted to hear from you! You can enquire online anytime, or call us on our Freephone Telephone number 08000 282 281, to speak to a qualified Mortgage Advisor. Our lines are open until 10pm daily including weekends. We think you'll find our approach to be friendly, helpful and professional - our aim is to help in any way we can. So call us now, and we'll assure you of a warm welcome!
The overall cost for comparison is 9.8% APR.
The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances.
For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Are you worried and becoming stressed because you are having problems getting a mortgage or remortgage? Worry and stress no more! Here at Shire Direct we provide tailor made mortgage solutions to suit you, and can usually help with all kinds of circumstances including...
Remember, we're here to help, and would love to hear from you!
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.
