After the initial 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 arrange through us (commission) or a combination of both fee and commission. We will always tell you about any commission we earn and it will be taken into account in working out any fee payable.
Commission is paid to a company by a provider, usually an insurance company or an investment house for the successful placing of business. The commission is included within the provider’s normal product charges. The amount of commission is based on a percentage of the premiums payable or sums invested.
Fees will usually be based on time spent and evaluated at a rate per hour calculated to recover our costs. Fees attract an additional VAT charge, if applicable, whereas commissions under current legislation do not. We will always tell you about any commission we earn and it will be taken into account in working out our fee.
Whether we take our remuneration by way of commission or fees will be a matter of discussion and agreement and no fee charges will be made without prior notification in writing.
For mortgage advice, you can choose how we are paid: either you can pay us a fee or we can accept commission from the Lender. It should be noted that for the placement of some mortgages we will charge a small nominal fee for the placing and administration of an application.