My fee for arranging a mortgage is 1% of the mortgage amount (with a minimum of £1,995) which is payable in two parts.
1) £295 is payable once a lender has been found and has agreed to give you a mortgage after submitting an agreement in principle (AIP). This AIP means you will have passed a credit search & score if necessary and passed the lenders initial underwriting criteria. You can then go forward with confidence in the knowledge that subject to the property being valued OK and the information you supplied at the outset of the AIP submission being correct, you will get a mortgage. This fee is non-refundable and will be due once you receive an AIP.
2) The remainder of the fee is due when a Mortgage Offer is issued.
Please note that I only get paid on results – when you receive an AIP and when you receive a Mortgage Offer.