Report topic or post
If you feel like the content shown below has broken cherry's rules, please click the "Report to cherry" button at the bottom to let us know why.
Indeed it is otherwise we are not only on the wrong forum but in the wrong job !
I think the financial risk is if the bank went under and didnt pay not so much the club. If the proc fee is collected from Woolwich for £1k and then gets credited and cleared on monday it will be sent on immediately. There are no employed people, compnay cars, expense accounts, expesnive offices nor lunches to be paid for hence WHY all the proc fee can be paid.
Yes it would be great to have all lenders on board but as i have scratched beneath the surface it is dissapointing to see how the clubs and networks work in unison with the lenders. One of the mortgage clubs made £4.5m last year . Call me a nutcase if you want but i would prefer to see that money to spread across the advisers bank accounts. We have the hardest job of anyone - finding new clients- and i have never liked the fact that the moment we do find one others swoop down to share the spoils
