Broker fees may be charged on all residential products and must have been agreed with the applicant.
The maximum broker fee that can be charged is as follows:
Loans ≤£375,000 – 15% of the net loan, up to a maximum of £7,500
Loans >£375,000 – 2% of the net loan, up to a maximum of £20,000
Where the property valuation is >£500,000 or an audit valuation is required, valuation costs that have been incurred may be added to these maximum amounts with underwriter approval; proof of valuation costs will be required.