Fees only become due when an application is submitted to the lender of your choice. Prior to that, all the consultancy, advice and guidance are provided free as part of Trafalgar Square’s service.
Trafalgar Square works for a client with every intention of keeping them happy but retains the right to keep the fee if a Mortgage Offer has been achieved. However, in most instances, we are prepared to issue a Credit Note to carry the fee over to the next case (retaining a non-refundable fee of £150 which covers consultancy and administration costs incurred).
Remortgaging or a Further Advance can occur when a property has been bought under value or it has been purchased and refurbished, enhancing its value. The Council of Mortgage Lenders stipulates that lenders require 6 months between purchase and re-finance.
Money laundering is the conversion into legitimate funds of illegal money, brought into the country by individuals, organised crime or terrorists. Millions of pounds each year are laundered in the UK through financial institutions. As a result, brokers are required by law to validate every client’s identity, proof of residence and source of deposit funds.