Why am I paying a brokers fee
Malcolm300 (1 year ago)
Hi I have been going through the terms and conditions and see that I am paying a £300 broker fee. It states that you should only have to pay this if you been refered through a broker company, but I contacted you directly so therefore I should not have to pay this charge. I am not willing to complete the application if this charge remains for no reason. Also can you confirm that if I was to pay the loan off eairly would I have to pay the full amount including intrest or just the original amount borrowed? Regards m. Moore
FLM Loans (10 mths ago)
You may have been through us directly at one point, but a broker has also sent application forms to you. You can always tell if a broker has sent you forms because the agreement number will have a particular arrangement of letters before the numbers. (For example, YL... stands for Yes Loans, a broker)
If you send those forms back to us, then those are the forms that were sent to you from a broker, and so we would have to pay the commission to the broker as on the form.
To answer the last part of your question, no you wouldn't have to pay the total interest if you settled your loan early. You only need to pay whatever is left on the balance, with no early settlement charges to pay.