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about our mortgage services
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White House Mortgages Ltd |
14 Gray’s Inn Road, Chancery Lane, London WC1X 8HN. |
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The Financial Conduct Authority (FCA) |
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Whose mortgages and products do we offer? |
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We offer mortgages and life insurance products from the whole market. |
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We can only offer mortgages from a limited number of lenders. |
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We canonly offer a limited range of the mortgages from a single lender |
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Which service will we provide you with? |
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We will advise and make a recommendation for you after we have assessed your needs. |
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You will not receive advice or a recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed. |
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What will you have to pay us for this service? |
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Total Fee |
Admin Fee |
Offer |
Exchange |
Completion |
Notes |
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Residential/ BTL Purchase BTL Portfolios |
1%
1.25%
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£500/£750 *
£750 |
50% of Balance |
Remaining Balance |
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Minimum fee £1000 * Some Specialist Lenders require additional work pre Agreement in Principle or Offer. When this is the case, the Admin Fee will be increased to £750 to cover the additional work. |
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Residential/ BTL Re-mortgage BTL Portfolios |
1%
1.25% |
£500/£750 *
£750 |
As Above |
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Remaining Balance |
Minimum fee £1000 * As above |
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Minor Adverse Credit |
1.25% |
£500/£750 * |
As Above |
As above |
As Above |
Minimum fee £1000 No Adverse in 12mths * As above |
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Adverse Credit |
1.50% |
£750
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As Above |
As above
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As Above
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Minimum fee £1000. All other Adverse |
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Right to Buy |
1.50% |
£500 |
As Above |
As above |
As Above |
Minimum fee £1000 |
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Offshore |
1.50% - 3.00% |
£1000 |
As Above |
As above |
As Above |
Minimum fee £2000 Admin fee paid £500 on assessment £500 on AIP |
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Commercial
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1.50% - 3.00% |
£1000 |
As Above |
As above |
As Above |
Minimum fee £2000 Admin fee paid £500 on assessment £500 on AIP |
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Complex & Difficult |
1.50% - 3.00% |
£1000 |
As Above |
As Above |
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Minimum fee £2000 Admin fee paid £500 on assessment £500 on AIP |
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Bridging |
3.00% |
*£3000 |
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*Minimum Fee £3000 will be charged even if it doesn’t complete |
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Fast Bridging |
5.00% |
*£5000 |
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*Minimum Fee £5000 will be charged even if it doesn’t complete |
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Un-secured business loans Bellow £50,000 £50,000-£99,999 £100,000+ |
£1000+
5.00% 4.00% 3.00% |
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£500 |
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£500
5.00% 4.00% 3.00% |
Admin Fee of £1000 £500 on Offer and £500 on Completion. A further 3-5% will be added to the loan dependent upon size of loan and taken on Completion |
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Secured loans Bellow £50,000 £50,000-£99,999 £100,000+ |
£1000+ 5.00% 4.00% 3.00% |
£500 |
£500 |
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5.00% 4.00% 3.00% |
Admin Fee of £1000 £500 on application £500 on Offer. A further 3-5% will be added to the loan in line with unsecured loans and taken on completion. |
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Life cover |
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Commission only |
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For Residential and Buy to Let Mortgages, a fee of 1% (Minimum of £1000) will be charged. Of this a £500/750 non-refundable Administration fee will be charged on providing an Agreement in Principle. 50% of the Remaining Balance will be charged on providing a Mortgage Offer. The final Balance will be charged on Exchange of Contracts (purchases) or Completion (Re-mortgages). For BTL Portfolios, a higher fee of 1.25% and an Admin Fee of £750 will apply from the 1st October 2017 to cover the additional work due to a change in PRA Rules.
For Minor Adverse Credit, a fee of 1.25% (Minimum £1000) will be charged. Of this a £500/750 non-refundable Administration fee will be charged on providing an Agreement in Principle. 50% of the Remaining Balance will be charged on providing a Mortgage Offer. The final Balance will be charged on Exchange of Contracts (purchases) or Completion (Re-mortgages)
For Adverse Credit, a fee of 1.50% (Minimum £1000) will be charged. Of this a £750 non-refundable Administration fee will be charged on providing an Agreement in Principle. 50% of the Remaining Balance will be charged on providing a Mortgage Offer. The final Balance will be charged on Exchange of Contracts (purchases) or Completion (Re-mortgages)
For Right to Buy Mortgages and Adverse Credit Mortgages, a fee of 1.50% (Minimum of £1000) will be charged. Of this a £500 non-refundable Administration fee will be charged on providing an Agreement in Principle. 50% of the Remaining Balance will be charged on providing a Mortgage Offer. The final Balance will be charged on Exchange of Contracts (purchases) or Completion (Re-mortgages)
For Offshore Mortgages, Commercial and Complex and Difficult Mortgages a fee of between 1.50% and 3.00% will be charged. The level of the fee will be agreed once we have assessed your case in principle (Minimum of £2000). A non-refundable administration fee of £500 will be charged on Assessment prior to an Agreement in Principle being submitted. A further non-refundable Administration fee will be charged on providing an Agreement in Principle. 50% of the Remaining Balance will be charged on providing a Mortgage Offer. The final Balance will be charged on Exchange of Contracts (purchases) or Completion (Re-mortgages)
For Bridging a fee of 3.00% to 4.00% will be charged (Minimum of £3000). Please note that if an offer of funds is made, the Minimum Fee will be charged even if it doesn’t complete.
For Fast Bridging a fee of 5.00% will be charged (Minimum of £5000). Please note that if an offer of funds is made, the Minimum Fee will be charged even if it doesn’t complete.
For Unsecured Business Loans and Secured Loans we have a non-refundable set Admin Fee of £1000, of which £500 Administration Fee is payable on Offer and £500 on Completion. A further 3-5% will be added to the loan dependent upon the size of the loan and paid by the lender on Completion.
If the Mortgage or loan does not proceed, the administration fee is non-refundable, however we will try to place the mortgage with another lender. If the second mortgage does not proceed, then we reserve the right to charge a fresh administration fee for any further work carried out. We may also be paid commission from the lender in addition to our fee which will be disclosed.
Please note that this charge is purely for our work and does not include any charges made by third parties.
Non-Disclosure In the event that a client fails to disclose either adverse credit or something that may adversely affect a lending decision, such as gambling, debt management agreements etc…, then the appropriate fee scale will automatically be applied without further notice.
For life insurance products, we will disclose any commission received on the illustration we provide you. |
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Refund of fees |
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If we charge you a fee, and your mortgage does not go ahead: |
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You will receive a full refund if the lender rejects your application. |
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Our fees are as laid out within this document and non-refundable once they become payable, as per our Irrevocable Fee Agreement that has to be signed in all cases. |
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No refund if you decide not to take out a mortgage.
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6. |
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Who regulates us? |
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White House Mortgages Ltd, 14 Gray’s Inn Road, Chancery Lane, London WC1X 8HN is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 302190. Our permitted business is Mortgage & Life Cover advising & arranging. You can check this on the FCA's Register by visiting the FCA's website http://www.fca.org.uk/register/ or by contacting the FCA on 0800 111 6768. Commercial loans and some bridging loans are not regulated by the Financial Conduct Authority and therefore outside the jurisdiction of the Financial Ombudsman’s Service |
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What to do if you have a complaint |
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If you wish to register a complaint, please contact us: |
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… in writing |
Write to White House Mortgages Ltd, 14 Gray’s Inn Road, Chancery Lane, London WC1X 8HN. |
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… by phone |
Telephone 020 3039 3400 |
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If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
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Are we covered by the Financial Services Compensation Scheme (FSCS)? |
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We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Mortgage advising and arranging is covered up to a maximum limit of £50,000. Long-term insurance (e.g. life assurance) the maximum level of compensation for claims against firms declared in default on or after 3 July 2015 is 100% of the claim with no upper limit. Further information about the compensation scheme arrangements is available from the FSCS http://www.fscs.org.uk/ |
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