Our Fees
There are two separate costs for our mortgage complaints service.
Initial appraisal fee – £199
This fee is non-refundable and payable at outset. Once we have received our signed Terms of Business, together with payment of £199, your case will be allocated to a Claims Manager who will review the information provided by you and your mortgage adviser. The fee may be paid by cheque or bank transfer.
Success fee – 10%
Where a claim is successful we will deduct 10% from the final claim settlement figure and pass the balance on to you.
There are no other fees to pay us.
EXAMPLE 1
You pay an Initial Appraisal fee of £199. Your claim is rejected by both the mortgage broker and the Financial Services Ombudsman. You receive no compensation.
Total fee paid to us £199
EXAMPLE 2
You pay an Initial Appraisal fee of £199. Your claim is successful and you are awarded £10,000 as a compensation settlement payment. We deduct £1,000 (10%) and pay the balance of £9,000 to you.
Total fee paid to us £1,199
You receive £9,000
EXAMPLE 3
You pay an Initial Appraisal fee of £199. After a Claims Manager initially reviews your case we decide that it is not worth pursuing. You decide to proceed anyway and file a claim yourself against the mortgage broker or financial adviser. Your claim is successful and you are awarded compensation. If you can provide us with written proof of the broker or advisers offer of compensation then we will refund your £199 appraisal fee.
Total fee paid to us £199
IMPORTANT
Mortgage Complaints Bureau reserve the right to make a cancellation charge if you knowingly provide our business with misleading information about your claim. Furthermore, if we successfully win compensation for you and you try to cancel our agreement without paying our fee, we reserve the right to charge you a fee of no more than 10% plus loss of interest of the compensation amount won.
