Our fees – When and why we charge a fee?
At One Stop Finance our fees are payable on production of the mortgage offer.
Our Application process has the following stages:-
- We speak to you and identify that we can help.
- We arrange a meeting where we complete a full confidential fact-find to ensure we have all the information to enable us to make a recommendation.
- We obtain all the necessary documentation from you required by the lender, following the Guidelines of the Mortgage Market Review (MMR) and the requirements of our compliance department.
We now recommend that our clients obtain a copy of their credit report. It is a Lending requirement for applicants to record all of their credit liabilities on the day of application. Having sight of a credit report allows us to overcome any blips in your credit history by placing your application with the most appropriate Lender.
- We research the market to establish which products would be best suited to your circumstances and shortlist the lenders that meet your criteria.
- Our research covers standard mortgage products, exclusive products only available through brokers or those available to us through our Quilter Network, Private Banks and products available on the High Street. We are a whole of market mortgage broker.
- We present our recommendations and provide you with detailed advice.
- We produce a Key Facts Illustration, which details the costs involved and monthly payments. This is an FCA prescribed document, which ensures information is presented uniformly.
- We approach the selected lender and obtain an Agreement in Principle subject to full underwriting and valuation.
- We complete a full mortgage application and submit it to the lender.
Our fee also covers our sales support team that process your application, liaising on your behalf with the lender, the valuer, the estate agents and the solicitors.
Our sales support team provides an invaluable service ensuring that the process is as smooth as possible and that all parties are working together towards completion.
To see what our existing clients say about our services please click here
One Stop Finance Ltd charge a fee for mortgage advice. A fee of up to 2% of the loan amount may be charged depending on individual circumstances (i.e. £2,000 on a £100,000 mortgage). A typical fee is £1,000 plus we will also receive commission from the lender.