Do you have to take £300 out of the loan for Brokers fee?

by Town on Tue May 04th, 2010 4:20 pm

Do you have to take £300 out of the loan for Brokers fee?

Jon Newman

by Jon Newman last updated 63 days ago.

If you have been passed to us by a broker then there will be a fee attached to your loan as a result of the work that they have done in locating us as your loan solution. This fee varies depending on the amount you borrow. The broker fee you're paying is not taken upfront, it's broken down over the term of the loan to make it easily affordable.

Comments

by mandy13 111 days ago.

i just want to thank you very much for the loan and for helping me get one thanks again



by thom 69 days ago.

the broker that sent me through to you is already charging me about £70 for passing me on to you , what is the £300 for , you explained its a fee for the broker , so apart from the 50+ apr there is a double brokerfee , why is there 2 brokerfees?



Roxane Tizzard

by Roxane Tizzard 69 days ago.

The £300 is a commision that has to be paid to your broker who put you in contact with us. The fee that you have already paid to them is for them to find a loan for yourself. They are providing a service to you.

Don't worry, you dont have to pay this upfront as its already included in your monthly payments.



by ppkvu 14 days ago.

The £300 commision that has to be pay to the broker,is this included in the loan eg £3,000-£300? or its £300 extra to be paid to the broker?



Jon Newman

by Jon Newman 14 days ago.

Hi,

The £300 is broken down over the term of the loan to make it easily affordable. This will be added on top of your agreed loan amount.



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