E1 BTL FINANCE |
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Qualified Mortgage Broker
A professional person who is qualified to provide advice on the availability as well as suitability of the range of mortgage products available. Some brokers are independent, which means that they provide advice about the financial products (mortgages) available from a variety of lenders on the market. Other brokers are tied to a specific financial institution (bank, building society, etc) and would only be able to advise you on the mortgages offered by their banks.
Quotation
A written confirmation of estimate costs associated with a particular financial product. Quotation usually includes an example of likely expenses in respect of arranging the product, monthly payments, etc. It is often referred to as KFI (Key Financial Information) and/or KFD (Key Financial Document).
Quote
An estimate of likely monthly payments on a relevant mortgage, loan, credit and/or store card,etc as well as costs pertaining to arranging the same, such as administration fee, brokers fee, etc.