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

Town (1 year ago)

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

FLM Loans (7 mths 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 (15)

mandy13 (1 year ago)

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

thom (1 year 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?

FLM Loans (1 year 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.

ppkvu (1 year 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?

FLM Loans (1 year 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.

pat123 (10 mths ago)

what is a brokerage fee of

FLM Loans (10 mths ago)

Hi,

As mentioned above the brokerage fee is an amount which is included in your repayments as commission for the broker who has given you our details so you can apply to us. You don't have to pay this upfront and is included in your repayments on your loan.

Koonlay (10 mths ago)

If I get a loan of £3000 which I intend to pay back in 12months. According to your calculation I will about £302 every month. That means I will pay back £3619.56. Is there any other that is not yet included.

FLM Loans (10 mths ago)

£301.63 over 12 months, yes your figure of £3619.56 is correct.

There are no hidden charges or extras, when you get your agreement form, the Total Charge for Credit will be broken down so you can see exactly what you're paying.

rg (10 mths ago)

you have offered loan over 3 yrs, i want it over 5 yrs

FLM Loans (10 mths ago)

If you want to change the term of your loan, all you need to do is log in to your online application and adjust the term you want your loan over, then you can reprint, or resend your application forms.

kelly0609 (4 mths ago)

On my agreement it say £150.00 set up fee, do i have to pay this first before i get my loan?

FLM Loans (4 mths ago)

You do not have to pay this fee upfront. We know it can difficult paying upfront fees so we make it easier by rolling it into your monthly repayments. We find our customers prefer this method as it makes it more affordable.

The fee is then spread throughout the life of the loan, so don't worry about that.

drbjeb (4 mths ago)

Would the 3k be paid to me then the 300 taken leaving 2700 or do I get 3k and with my payments pay the fee?

FLM Loans (4 mths ago)

The fee is rolled into your monthly repayments making it easier for you to pay. We know customers can struggle with upfront fees, which is why we don't do it.

This way it's much more affordable for our customers.


Tags: broker commission, brokerage, fee, upfront fee