01702 538 800

We’ve Streamlined Our Second Charge Fees

Posted: 12/09/2016

 streamlined-2nd-charge-fees

Headline low broker fees sound great but some clients can’t afford to pay an upfront fee and in some cases, others may actually be charged a higher broker fee due to the procuration fee and packaging fee purely going to the distributor. In most cases, distributors are offering a purely packaged service, meaning you will still need to provide and take all of the responsibility for the advice given to the client.

To ensure our fees are fair, competitive and transparent, we’ve launched a new fee tariff focused on straightforward pricing that provides clients with two simple payment options. In all cases, we will take full responsibility for giving compliant advice to the client.

Headline low broker fees sound great but some clients can’t afford to pay an upfront fee and in some cases, others may actually be charged a higher broker fee due to the procuration fee and packaging fee purely going to the distributor.

Squeaky Clean

Examples of cases which would be classified as “squeaky clean”: –

  • Clients who want to protect their existing mortgage, particularly those with an interest only repayment mortgage or low interest rate
  • Clients who would be subject to high early repayment charges if they were to remortgage before the end of the term

Complex

Examples of cases which would be classified as “complex”: –

  • Clients with current or historic adverse – CCJs, defaults, DMP, IVA
  • Clients with multiple income sources or whose main income is from non-standard sources – pension, benefits, zero hours contract
  • Non-standard property types – high rise flats, ex local authority flats, unique constructions

Zero Upfront Costs

This option may benefit clients who can’t afford to pay for the valuation and lender processing fees in advance.

  • Ingard will pay for the valuation and lender processing fees
  • The client will be charged a 5% broker fee – minimum £1,500 – maximum £4,000
  • Ingard broker fee can be added to the loan

We’ve Got The Edge

Here are just a few of the benefits of using our Specialist Team: –

  • Some of the best commission available
  • Your client remains yours – we will not cross-sell any ancillary products unless you ask us to
  • We will provide you with all research for your compliance needs
  • Access to exclusive products and lenders

Find Out More

If you would like any further information or need assistance placing a case, then call the Specialist Team today on 01702 538 800 or email info@ingard.co.uk.