Fee Free means Fee Free…
Nothing hidden in the small print… it is what it is… for all those in the NHS, Police or Fire Service and of course to those who have ever served in HM Armed Forces.
Fee Free means Fee Free…
It astounds us how often when dealing with a military client we have the following conversation…
Usually on completion…
“the good bit”
When they get the keys…
How much do we owe you????
Even when we advertise the brand “Fee Free Military Mortgage Advice”
I guess they are just so used to hidden costs and small print….
Can’t really blame them…
There is a few hurdles and documents we have to provide that back up this “fee free” offering.
Rightly so… you see, we do charge everyone else…
Actually, not exactly right…
With exception of Serving Police, Firefighters & NHS…
BUT… for everyone else we charge a fee of at least £395…
so it is a genuine discount, and its documented in all the literature…
you see… our terms of business has to say in black and white…
we can charge a fee of up to £750
But…
This is waived for “insert flavour of hero”
One other thing we get asked a lot is how then do you make your money?
Each lender pays what’s called a procuration fee, usually 0.4% of the loan amount.
So… £90,000 mortgage would see us rewarded £360
A common follow up myth….
None of this is added to your mortgage balance, its not charged to you by us or hidden in the fees of a lender.
We get paid the procuration fee even if you are being charged an advice fee…
Lenders now all pay almost identical percentages which put a stop to any potential lender bias…
One last thing,
For the military, we go one step further…
If you have ever served in the military,
Be it… RAF, Army, Navy
We promise to waive our fee forever,
So to be clear,
Veterans get access to Fee Free Military Mortgage Advice too!!
And so you bloody should!