Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Arrangement Fee

What is an Arrangement Fee?

An Arrangement Fee (sometimes called a Completion Fee or Booking Fee) is an administration charge made by lenders for arranging credit – usually for a mortgage or for a business loan and sometimes for car finance.

Under the Consumer Credit Act 1974, an Arrangement Fee must be quoted in your written offer of credit and in your Credit Agreement. Not all lenders charge an Arrangement Fee.

The size of an Arrangement Fee can vary from a couple of hundred pounds up to 1% of the mortgage value, which can be a sizable sum. Nowadays, if you require a fixed rate or discounted mortgage you will probably have to pay an Arrangement Fee.

The Arrangement Fee is intended to cover the administrative costs of setting up the credit facility.

You should look very carefully at any conditions associated with the fee: some lenders expect you to pay when you submit your mortgage application and it might not be refundable, though this must be disclosed at the point of agreement. Other lenders add the Arrangement Fee to the loan, which means that you will pay more in interest.

Be wary of mortgage lenders that offer low interest rate loans coupled with high Arrangement Fees in an attempt to obtain more favourable ratings in mortgage comparison tables.

Jargon Buster

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