When a Broker acts for a Client it is standard market practice for the firm to be paid a Broker Fee from the Client and also receive what is known as a ‘Procuration Fee’ when the mortgage completes. This is in addition to any commission which is due on any insurance / protection products purchased.
At Ela’s Finance, we operate on a fully independent basis which means that we can obtain great value financial products for you which can potentially result in thousands of pounds of savings for you over the mortgage term.
In line with our commitment to doing the best we can for our clients, we offer a free, no obligation initial meeting to discuss your requirements in more detail so we can establish how we can help. At the end of the meeting we will let you know if we are able to assist and will advise you of any Broker fee that will be charged for dealing with your case.
We will make sure that any procuration fee paid by the lender or commission paid by an insurance company we recommend in relation to the products you take are all fully disclosed to you in advance so that everything is clear. These payments do not alter the amount you pay as they are automatically built in to the quotations which are given by Lenders and Insurance companies but we will always tell you what is to be paid by them to us so that everything is transparent to you as our customer.