Our fees – When Are They Charged?
At Coreco our fees are regarded as success fees. This means that they are payable after a significant amount of the work on your mortgage application has already been done.
In detail, this means that we have completed the following stages:-
- Spoken to you and identified that we can assist
- Held a detailed consultation where we have completed a full confidential fact-find to ensure we have all the information to enable us to make a recommendation
- Undertaken the necessary research to establish which products would be best suited to you and, perhaps more importantly, which lenders meet your criteria
- This search takes into account standard mortgage products, those available only through brokers, our own exclusive products, those available through Private Banking institutions and even those available direct to high street lenders
- Presented our findings and provided you with detailed advice
- Produced a Key Facts Illustration which details the costs involved and monthly payments
- Approached the lender and obtained an Agreement in Principle subject to full underwriting and valuation, where this is possible
- Obtained all the necessary documentation from you required by the lender and checked for inconsistencies
- A full mortgage application has been completed and submitted to the lender
It is only at application stage that we would charge the first part of our fee, typically £495. The remainder would be collected once the mortgage completes.
This fee also covers the dedicated sales support team that process the application, liaising on your behalf with the lender, the valuer, the estate agents and the solicitors.
This helps to ensure the process goes smoothly and all parties work together towards the desired completion date.