HOUSE hunters and re-mortgagers will no longer be charged a broker arrangement fee with the arrival of the Free Mortgage Advice Bureau in Sale.
The company, which has been trading online nationwide as the highly successful Transparent Mortgages, has opened its first walk-in store on Washway Road, Sale.
Sale-born managing director, Paul Johnson, said: "We can offer a no-fee service because unlike most brokers we don't have huge overheads. We receive commission from the lender on completion of the mortgage, which is enough to run the business. Charging a fee on top would be just a little bit greedy. And of course we hope the fact that we don't charge a fee will send customers to our door."
Mr Johnson, who held roles in Lloyds TSB, I Group and a senior management role at Freedom Finance, works alongside fellow director David Beech, formerly of Royal Bank of Scotland and also Freedom Finance. Between them they have more than 40 years in the personal finance sector.
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