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 HomeLoan Partnership Network Membership Costs

There are no application or joining fees to become a member of the network.

There are no fixed monthly fees for active AR firms or Advisers.*

There are no charges for sourcing, compliance and T & C software.

There are no deductions from broker fees.

HomeLoan Partnership's network membership costs are simply expressed as a retained percentage of turnover. Procuration fees, insurance and other commissions received from product providers are credited to the AR's account weekly. The net total due is paid to the AR by BACS after deducting the appropriate percentage which we retain as our network charge.

The retention is set at outset and then reviewed periodically with each AR firm according to:

  • The number of advisers in each AR firm
  • The firm's annual turnover from procuration fees and commissions
  • Whether the firm has Trainee Advisers
  • Whether express procuration fee payments have been agreed
  • Whether additional services (such as a white label website) or business financing are provided

Standard rates of retention start from as little as 7% of turnover.

Based on HomeLoan Partnership's understanding of current HM Revenue & Customs practice, the percentage of fees and commissions retained by HomeLoan Partnership is not subject to VAT.

PI Insurance is deducted separately (according to risk rating) from 1% of turnover.

*Except for any period of inactivity when a debit of £100 per month will be carried forward to maintain membership status.
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If you require mortgage, insurance or loan advice visit www.independentmortgagenetwork.co.uk

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