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Trailing commission on mortgages
Johnc_3
Posts: 2 Newbie
Is is possible to claim a refund of trailing commission on a mortgage, and if so how does one go about doing it?
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Comments
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You cant get a refund of trail commission on any product. However, there is no trail commission on mortgages.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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Typically, the procuration fee on a standard residential mortgage via a High Street lender is 0.3%. This is a one-off paid at completion. Lenders don't pay us anything else.Is is possible to claim a refund of trailing commission on a mortgage, and if so how does one go about doing it?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Even if there was trail commission on what grounds would you think you are entitled to a refund?I am a Mortgage AdviserYou should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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Even if there was trail commission on what grounds would you think you are entitled to a refund?
Probably the same reason they are going to attempt a refund from their weekly shopping bill to Lidl or whoever.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I hope the OP does responds as I can't wait for a dose of warped logic!0
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