Edinburgh · Scotland · UK-wide
Our fee depends on whether your case is a regulated mortgage contract. Regulated mortgages start at £495 and are capped at 1% of the loan. All other lending starts at £695, up to a maximum of 1.5%. Part of the fee is payable when you ask us to begin work, and the balance on production of your formal mortgage offer or facility letter. There is no fee for the initial consultation and no fee for protection advice. We are also paid a procuration fee by the lender, and we disclose the amount to you as part of our recommendation. Your exact fee is confirmed in writing before you are asked to commit to anything, and no fee is payable until you have agreed it. Full details are set out in the Initial Disclosure Document you receive before any advice is given.
Our fee depends on whether your case is a regulated mortgage contract or not.
Regulated mortgages — from £495, capped at 1% of the loan. This covers buying or remortgaging a home you live in, including adverse credit, self-employed, expat and other complex residential cases. Where your case is a regulated mortgage contract, our fee is capped at 1% of the loan, in line with the undertaking given by Mortgage Force (UK) Ltd.
All other lending — from £695, up to a maximum of 1.5% of the loan. This covers buy-to-let held by way of business, commercial mortgages, bridging and development finance, portfolio lending, and agricultural and rural finance. These cases are priced individually: they take substantially longer to package, involve more negotiation with lenders, and are frequently declined elsewhere.
On smaller loans the minimum fee applies in place of the percentage. Some buy-to-let and bridging cases are themselves regulated mortgage contracts, and where that is so the 1% cap applies to them too.
There is no fee for the initial consultation, and no fee for protection and insurance advice, where we are paid commission by the insurer.
When you pay. Part of the fee is payable when you ask us to begin work, and the balance on production of your formal mortgage offer or facility letter. On larger or more complex cases a further staged payment may fall due when you accept the lender’s indicative terms and the valuation is instructed. The amounts and the timing are set out in writing before you are asked to commit, and no fee is payable until you have agreed it.
Lender commission. We are also paid a procuration fee by the lender on completion. The amount is disclosed to you in your illustration and in our recommendation, so you can see the total we are paid from both sources.
Refunds. The amount paid when work begins is non-refundable once we start acting for you — it covers the research, advice and application work we carry out. The balance is payable only if a formal offer or facility letter is produced: if your application does not reach that point, no balance is due. If a lender declines your case or a valuation does not support the loan, we will source and submit your case to an alternative lender at no further charge.
Your exact fee is agreed with you in writing before any work begins and does not change afterwards — unless the scope of the work changes materially, in which case any change is agreed with you in writing first. Full terms, including the fee for your case, are set out in the Initial Disclosure Document you receive before any advice is given.
We offer an impartial mortgage service. We do not place restrictions on the mortgages we have access to, but we will not consider deals that can only be obtained by you going direct to a lender. In some cases the lender we recommend may wish to contact you to discuss your application further.
Where we recommend a lender to you, we provide advice and a recommendation following an assessment of your personal circumstances and requirements. You will normally receive an illustration setting out the fees, costs and charges relating to a particular loan, and you should read all documents carefully before proceeding to legal completion.
Prime Mortgages is a trading style of Mortgage Force (UK) Ltd. Edinburgh office: 30 Melville Street, Edinburgh, EH3 7HA. Central Office: Chestnut House, 65a Friar Gate, Derby, DE1 1DJ. London office: Suite 502, Fifth Floor, Irongate House, 22-30 Dukes Place, London, EC3A 7LP.
Mortgage Force (UK) Ltd is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 843041. You can check this on the Financial Services Register at register.fca.org.uk or by contacting the FCA on 0800 111 6768.
Our permitted business is advising and arranging deals in non-investment insurance contracts and general insurances, and mortgage and loan first and second charge contracts.
The FCA is the independent watchdog that regulates financial services. Most mortgages and loans are regulated. Buy-to-let mortgages taken by way of business, some bridging loans and most commercial loans are not covered by this regulation. In those cases there is no recourse to the Financial Ombudsman Service and the protection afforded by regulation does not apply. Ask your adviser for further details.
If you wish to register a complaint, please contact us in writing at: The Compliance Manager, Mortgage Force (UK) Ltd, Chestnut House, 65a Friar Gate, Derby, Derbyshire, DE1 1DJ. By email at complaints@mortgageforce.co.uk, or by telephone on 01332 900 789.
If we cannot resolve your complaint to your satisfaction, or we have not given you a final response within eight weeks, you may refer it to the Financial Ombudsman Service free of charge. You must normally do so within six months of our final response.
Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone 0800 023 4567 or 0300 123 9123. Email complaint.info@financial-ombudsman.org.uk. Online at financial-ombudsman.org.uk.
Regulated mortgage loans and Consumer Credit Act loans are covered by the Financial Services Compensation Scheme up to certain limits. Other loans, such as investment property and buy-to-let loans and commercial loans taken by way of business, are not covered by the FSCS, and the protection that would normally exist under this scheme is not available. Ask your adviser for details.
Common questions
It depends on whether your case is a regulated mortgage contract. Regulated mortgages — buying or remortgaging a home, including adverse credit, self-employed and expat cases — start at £495, and where your case is a regulated mortgage contract our fee is capped at 1% of the loan. All other lending — buy-to-let by way of business, commercial mortgages, bridging and development finance, portfolio and agricultural finance — starts at £695, up to a maximum of 1.5% of the loan. On smaller loans the minimum fee applies in place of the percentage. Your exact fee is agreed in writing before any work begins. The initial consultation is free and protection advice carries no fee.
There is no charge for the initial consultation. If you ask us to go ahead, part of the fee is payable when we begin work and the balance on production of your formal mortgage offer or facility letter. On larger or more complex cases a further staged payment may fall due when you accept the lender’s indicative terms. The amounts and timing are agreed with you in writing before you commit to anything.
Yes. We receive commission from the lender on completion, in addition to our advice fee. The amount is disclosed to you in your illustration and in our written recommendation.
The engagement fee is non-refundable once we begin work on your behalf — it covers the research, advice and application work we carry out. The balance is only payable if a formal offer is produced, so if your case does not reach offer, no balance is due. Full terms, including the fee for your case, are set out in the Initial Disclosure Document you receive before any advice is given.
Regulated mortgage contracts and Consumer Credit Act loans are covered up to certain limits. Buy-to-let and commercial loans taken by way of business are not covered, and there is no recourse to the Financial Ombudsman Service on unregulated lending.
No fee for the initial conversation, and no obligation. We usually reply the same working day.
A twenty-minute conversation will tell you what you can realistically borrow, what it will cost and whether it is worth doing. It is free, and we will tell you honestly if the answer is no.