Affordable Mortgages

FAQs

Please find below some Frequently Asked Questions - if you have any other queries please do contact us and we will answer them all for you;

 

Why do you want a £200 cheque with the application?
You want us to commit to you and reserve a certain town, city or region for you – so it’s only fair that we get some commitment from you in return. - Having spent money advertising the posts - if we are going to turn away subsequent applicants who would definitely have joined we need to be able to recoup our advertising & processing costs if you are wasting our time !

Due to the great offer - we also receive a lot of speculative enquiries from people "thinking about joining" and "thinking about taking their CeMAP exams", these enquiries take up a lot of time, - so now to protect ourselves and ensure we only reserve areas and spend time with genuine enquiries from people who really are prepared to commit to joining - we insist that any application is also accompanied with a cheque for £200 to cover administration costs in initially assessing your application and obtaining all the necessary references that we must have in place under FSA requirements – whilst your application is being approved we do put this as contribution to the marketing fund - Please make cheques payable to 'Affordablemortgages.co.uk Ltd' This cheque is not refundable in cases where you are rejected – however only fraudulent applications are likely to be rejected !

 

Your website only mentions mortgages ?

We are busily getting a new website approved - this jobsite is based upon the new architecture - the new website will have the following main categories;

• Mortgages clean credit
• Mortgages bad credit
• Commercial Mortgages
• Debt Help
• Pensions & Investments
• Insurance & Protection

 

Do I have to Pay £200 each month ?YES - We do require any advisor joining us to pay £200 per month towards central operations, the vast bulk of this money goes into supporting central marketing activities designed to put business back to you. Unlike other clubs or networks you may join where you get nothing back in return, with our fee you will get mortgage leads, marketing materials, marketing support, sales training and much much more.

What about the leads ?
Our goal is to be spending £5,000 + per month on marketing within the next 6 months, this is a significant marketing budget and as such we are confident that all our advisors will benefit both in the short term and also in the longer term with a growing client base and tools , systems and training to help you get the best out of all the leads and referrals.

Will I get a certain postcode / area ?
We will ring fence a certain postcode area / town for you on joining, we may ask you to be flexible and be prepared to drive upto 20 miles in order to ensure we get a good flow of leads to you

How much will I earn ?
These posts are self employed adviser posts and you will be paid based on the commissions you earn from each case, commission earnings from mortgage and insurance related cases really do range from £300 to £5,000 a typical case average overall we see is £ 1,270 per case. How much you earn could depend on how hard you work, how many hours per week you work and if you have existing clients or contacts.

What about my existing client bank?
Any clients you bring with you will always remain yours - PLUS any client bank you build up with us – you can take with you when you leave !

What broker fee's can I charge?
Within our broad guidelines you are free to charge what you wish. If you are doing mortgages for friends or large mortgages you might even choose not to charge any Broker fee at all - the decision is yours.

All we ask advisors to follow these three guidelines;

1. Clean Credit = Maxmimum of 1% of the mortgage value or £500 - whichever is the greater
2. Adverse Credit = Maxmimum of 2% of the mortgage value or £500 - whichever is the greater
3. IN ALL ABOVE CASES - any broker fee in excess of £1,500 - that you explain why the fee is justified in the fact find and suitability letters

 

Do I have to deal in Pensions & Investments ?
No each advisor will have their own skills set and areas they feel comfortable trading in. - However for those that want to expand their skill set and take on new areas / opportunities selling pensions and investments then we can support you with training.

Do I have to attend an induction course?
Yes this is to ensure you understand our sales process and how to get the best out of the sourcing software, the course will be 5 days duration and is residential, as the course typically runs until 6pm most evenings. How many other companies would invest 5 days in you upfront ?

Do I have to pay for the induction course?
No induction courses are held around the UK, so hopefully there is one near to you, if not hotel costs are covered – the room accomodation costs and all meals are covered - however you would have to pick up your own bar bill !

How often do I have to attend the Head Office?
We appreciate our people are spread out from Aberdeen to Plymouth, so we only ask advisors to get together twice a year for a bit of sales training, an update on marketing a chance to meet each other and network with other advisors in a non competitive environment - and a nice meal thrown in as well !