Mortgages

Choosing a mortgage
There are different levels of service which your lender or intermediary normally use to help you choose a suitable mortgage. The lender or intermediary will tell you, at the beginning, which of these levels of service they can provide.

Abacus operate a practice of providing clients with advice and a recommendation on the type of mortgage most suited to the clients' circumstances.

Ther may be a charge for mortgage advice. Our standard fee for arranging a mortgage is £795. Where we recieve a payment from a lender we will off-set this payment against the standard mortgage fee We charge a non-refundable fee of £100 at the first meeting. This £100 fee is also off-set against our standard mortgage fee when your mortgage completes.

Lenders and intermediaries will make sure that their staff are appropriately trained, qualified, experienced and supervised.
Nowadays Mortgage advice is covered under the regulations of the Financial services authority and all the relevant information concerning a mortgage must be shown in what is known as the KEY FACTS DOCUMENT. This should be supplied to you by your advisor and it is a document providing information in plain english that shows the facts concerning your proposed mortgage including all the costs etc associated with the loan. All advisors must present the KEY FACTS in the same format to allow clients the freedom to make comparisons.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

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