You may have searched many mortgage advisor websites, wondering what they charge for their services and when that's payable. You'll also probably never have come across a fee promise, either.
We know it's frustrating when you can't get a straight answer to a simple question. Worse still, if you call up and someone says, "Well, it depends on how complex your circumstances are", etc.
We aren't like that. We know how frustrating it is when you want to see the price of something and you can't find it easily. So we want to be as transparent as possible because we think that's fair and have nothing to hide.
All our initial consultations are free for two reasons. Firstly, you need to know if we're the right mortgage advisor to help you with your mortgage or insurance needs. The same is true in reverse. We want to ensure we can help you and are the right business for your circumstances.
You might wonder why we would not take on a new client if you're willing to pay us. The answer is simple. Even though we have years of experience and have arranged hundreds of mortgages worth over £150 million in mortgage borrowing, it might be that a different business with a particular area of expertise would better serve you.
In that case, we'll inform you and point you in the right direction. After all, anything mortgage-related is a big deal; we're talking about potentially hundreds of thousands of pounds of debt for up to 40 years, secured against your most expensive possession. So it's got to be correct.
How much is your fee?
Typically, we charge a flat fee of £499*, payable when the mortgage lender has issued your mortgage offer. Please see below for buy-to-let fees as these differ from residential mortgage advice.
This means the lender, in collaboration with us, has assessed all your documentation, surveyed the property you want to buy or remortgage, completed all their due diligence, and approved your mortgage application. Then, when the mortgage offer is issued, our fee of £499 is collected.
Our fee promise. We won't charge you a penny if we don't get your mortgage approved, and it's for the lifetime of your mortgage. We won't charge you another broker fee for your renewal.
What do you get for your fee of £499?
We're with you from start to finish. So we're here for you if you need to talk to us during that time. Pick up the phone, drop us an email or send us a message because the last thing we want is for you to sit worrying or confused. We're here to help make things as easy and stress-free as possible for you, after all.
If that sounds like the service you want, please get in touch with us. We'll be in touch for an initial chat, and we can take things from there.
We look forward to meeting you and helping you with your home-buying or remortgage plans.
*We reserve the right to charge a fee higher than our typical fee of £499 if you have adverse credit and/or wish to consolidate debt due to the additional work required in these cases. Any fees deviating from our typical fee of £499 will be discussed with you, agreed upon and confirmed in writing before any work is undertaken or advice is given. A typical fee for debt consolidation is £699, payable on mortgage offer. If you have significant adverse credit, the fee may be up to £998, with £499 payable on application and £499 payable on mortgage offer.
For buy-to-let mortgages, we charge a flat fee of £599, and for portfolio landlords, we charge £998, with £499 payable for onboarding and £499 payable on application.
Terms & Conditions
Lewis Shaw, FCA registration number 927754, trading as Shaw Financial Services, is an appointed representative of King Mortgages Ltd, which is authorised & regulated by the Financial Conduct Authority, FCA registration number 803561.
There may be a fee for arranging a mortgage. A typical fee is £499; however, this could be up to £998. Any fees will be discussed with you and agreed, in writing, prior to any work commencing.
You may have to pay an early repayment charge to your existing lender if you remortgage.
Some forms of Buy To Let mortgages are not regulated by the Financial Conduct Authority. There is no guarantee that it will be possible to arrange continuous letting of the property nor that rental income will be sufficient to meet the cost of the mortgage.
The guidance &/or advice contained in this website is subject to the UK regulatory regime and is therefore restricted to consumers in the UK. As with all insurance policies, conditions & exclusions will apply.
THINK CAREFULLY ABOUT SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME (OR PROPERTY) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Registered Office Address - Mansfield Business Centre, Ashfield Avenue, Mansfield, NG18 2AE
© Shaw Financial Services 2021 All Rights Reserved
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