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Terms, Conditions & Refund Policy

Assuming that you are looking for a standard residential mortgage, you are able to prove your stated income & do not have any adverse information registered against your credit file then we will waive our usual broker fee of £495 as long as we will receive a procuration fee from the lender on completion of the mortgage.

However, as we offer the choice of an independent whole of market full advice service that includes lender direct deals & there are some products where we will not be paid a procuration fee for introducing you to the lender, in these instances we will charge a discounted one off fee of £99 for the product advice and recommendation that you will receive. (Ordinarily we would typically earn a commission of 0.35% of the mortgage amount and under FSA independence rules we should charge you this to offer ‘independent’ advice but as we want to offer a full advice service that is affordable to all, we have decided to only charge £99 should we have to charge a fee).

The £99 broker fee is non refundable once the Key Facts Document has been issued regardless of whether you decide to apply to the recommended lender or if you are declined by the recommended lender. However, in these instances, we will provide further recommendations free of charge until your application is accepted by a lender unless you have undisclosed adverse information registered against you and then our standard fee of £495 on completion of the mortgage (less the £99 fee already paid) is charged.

A refund of the advice fee paid will only be given if the recommended lender subsequently pays a ‘procuration fee’ to Mosaic Mortgage Management Limited in recognition of introducing you as a client to the chosen lender. However, in this instance we will advise you at the outset of the advice process and this will be clearly stated within the Key Facts Illustration sent to you within our recommendation report. (This may occur if the original recommended lender declines your application and you are subsequently successfully placed on an Intermediary exclusive product)

The advice fee of £99 covers the cost of the factfinding process (in which we will determine your specific requirements for the mortgage), our expert advice in the sourcing of the whole of the mortgage market & our recommendation of a product specific to your particular requirements. The sourcing includes exclusive intermediary only products, direct to lender via branch, web & telephone only applications. Unlike going to see a Bank (who can generally only provide information on their on products only) you will receive a written recommendation from a mortgage broker directly authorised and regulated by The Financial Services Authority and this will give you the protection of the Financial Ombudsman Service and The Financial Services Compensation Scheme.