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 will 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 we are paid out of the cost of any financial product you buy (commission). We will always tell you about any commission and/or fees 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 premium payable or loan agreed.
Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs.
If you ask us to arrange an insurance product for you we normally make no charge as we are paid a commission by the product provider however you do have the option of us charging an hourly fee and then rebating the commission to you. (Please see our CIDD for further information)
If you ask us to arrange a mortgage for you we can be paid either by commission (procuration fee) or a fee based on our time spent and hours worked for you. We normally make no charge as we are paid a procuration fee by the lender however you do have the option of us charging a fee based on our hourly rate and then rebating the lender's fee to you. (Please see our CIDD for further information)
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.