A Fee-Free Future – Why Comparing Brokers Makes a Difference
Our goal is to be a fee-free mortgage broker, helping you save where it matters. Most of our clients enjoy no broker fees, but in some cases, a fee may apply. It’s important to compare options and make sure you’re getting the best deal. Read on to learn how we work and when a fee might apply.
So, why choose Beechwood Mortgages?
TRUSTED ADVICE
We’ve been making things simple for clients in Berkshire and surrounding counties since 2001.
COMPARE & SAVE
We have full market access, so you can compare mortgage and insurance rates and other products with ease.
ONE POINT OF CONTACT
Avoid confusion with one dedicated broker working with you throughout the entire process.
PERSONALISED SERVICE
Receive expert recommendations based on your circumstances. We take care of all your paperwork too.
What You Need to Know
Mortgage brokers typically earn a fee from the lender, known as a Procuration Fee, which is usually around 0.35% of the mortgage amount. For instance, on a £250,000 loan, this would amount to £875. This fee is paid directly to the broker by the lender, not you. However, some brokers may charge additional fees, such as an upfront application fee or a fee upon mortgage approval, or sometimes both!
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At Beechwood, size matters! For loans under £225,000, a fee will apply. Curious about the specifics? Read on to discover the details, including other instances where a fee may apply.
Will I Pay Beechwood A Fee?
Good News! If you're borrowing over £225,000, we're most unlikely to charge a fee.
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To ensure transparency, if you're borrowing less than £225,000 a fee will apply. Rest assured in that if we can't secure a mortgage offer, there are no upfront application or admin fees!
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​For full details, check our fee table below.
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Our team is here to help you through the mortgage application process and it costs nothing to talk with us!
When May A Fee Apply?
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You wish to borrow less than £225,000
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You are looking at Shared Ownership, Right to Buy, Buy to Let, Joint Borrower Sole Proprietor Mortgages, Product Transfers or if you share your mortgage with two or more family members/friends
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Our fee is capped at 2.5% of your mortgage and is paid when we secure your mortgage offer.
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If a fee is based solely on your mortgage value and is not any of the schemes listed above, here's what to expect:​
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Mortgage of between 50-100k: £700 - £1250 Fee Payable
Mortgage of between 100-225k: £350 - £700 Fee Payable
And if your mortgage is upwards of 225k: No Fee Payable
Unsure about charges and costs?
Need immediate assistance? Contact us now via our Live Chat.
Don't forget to explore all your options before making a decision and avoid paying exorbitant broker fees!
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