Moneybackmortgages

trilbee

Hello

I'd just like to warn anyone who intends to use moneybackmortgages.com. Please make sure they pay you the 50% comission they promise and not anything less. When I received the cheque it fell short of what I was expecting. They also sent a statement and I pointed out that the figures were incorrect - only then did they reveal that another third party gets a share of this commission. I was not happy with this and informed them I would chat to the FSA. They promply paid the remaining monies but I still think this is improper practice. I'm not sure if anyone else has experienced something similar but I'd like to raise everyone's awareness to this.

dunstonh

3. Use Money Back Mortgages
With our solution you become your own broker and use our website to search for the most suitable mortgage for you using similar software to that used by independent mortgage brokers. You complete the application forms and our team of administrators liaise between you and the lender. We receive the same commission as any other broker - BUT - we rebate to you 50% of whatever we receive. With our service you will have access to the vast majority of mortgages that are available in the UK.

COMMISSION: We pay you 50% of commission paid to us.

That is from their website. So, they should be paying you 50% of what they receive and not 50% after deductions.

If you are going to complain, then make sure you get a printed copy of that webpage. Do it quickly as well as one of their employees has contributed at this site by pretending to be a client. He was caught out and went quiet after that but he could be lurking.

toonfish

out of interest, who was the "third party"?

This should have been disclosed on the key facts document.