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.

Broker

What is a Broker?

A Broker is someone who acts as an intermediary between you and a lender. Home buyers, for instance, may use a Broker to find the best mortgage offers.

The profession is strictly regulated. Brokers are usually paid by commission, and this must be ‘transparent’ – which means that you have to be made aware of all commissions right from the start.

Nowadays, lenders offer a vast range of different credit products, so the popularity of Brokers has increased as they make it easier for individuals to shop around.

Typically the role of a Broker, in addition to finding the most suitable product, will be to package the customer’s application for submission to the lender. With mortgages for example, a Broker may run a credit check, ensure income and equity criteria are matched with documentation (such as identity verification and wage slips), obtain an Agreement in Principle, and ensure that the customer is correctly advised.

All Brokers are regulated in the same way as lenders. For example, a mortgage Broker will be regulated by the same authorities as a mortgage lender would be. As such they are subject to the same rules and potentially can be censured in the same way as a lender if they are deemed to have acted outside of regulatory boundaries.

Our Annual Banking and Credit Card Surveys have consistently shown that respondents feel that they have a less stressful and better experience all round when using a Broker for mortgage finance.


Q: How do mortgage Brokers make money?

A: Brokers make most of their income through commission. If you accept a mortgage recommended by a Broker, the lender will pay the Broker an amount for bringing them a customer.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.

A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z