Complete FS – £199 fee means there is no excuse not to consider second charge loans


buy to let

Complete FS, the specialist lending packager, has recommitted itself to possibly the lowest master broker fee in the second charge market at £199, regardless of the case size.

In an email to introducers, Complete FS, which celebrates its 25th year of uninterrupted service to the intermediary sector, restated its commitment to a choice of fee structures that challenges the high fees being charged by some master brokers and which it believes are stopping many brokers from considering them as a viable option for clients looking to raise capital.

According to Complete FS Director, Damian Cain, one of the most often asked queries concerns brokers’ unease at the broker fees being charged in relation to those for first mortgages.

He said, “Second charge lending is growing because there are strong reasons, in certain cases, that many clients are better off with a second charge than a remortgage. However, in my opinion one of the major factors that is slowing the take up of secured loans is the understandable concern that advisers have at what they see as the high fees, often up to 10% of the loan, being charged by some packagers or master brokers. At Complete we think it’s important to offer choice and we do this by letting the adviser offer a fees paid option with a master broker fee of £199 or a fees free option with a limited master broker fee of 4%.”

Damian continued, “At Complete FS, we are eliminating that cost barrier and would urge advisers to look again at second charge loans. Broker fees need never again be a reason for not recommending a secured loan.”