Our income is earned in two ways a fee from the client plus a commission paid by the lender on completion. Typically our scale charges are as follows:
An engagement fee
Our initial discussion and a desktop review of the client’s proposal is free of charge.
At the outset we outline exactly how we would progress the proposal and agree any fees that would be payable by the client to Bespoke Business Finance LLP.
If the client wishes to proceed then a “Terms of Business” Agreement would be signed by both parties outlining and agreeing:
- the respective responsibilities of each party
- indicative terms for the funding that would be acceptable to the client
- fees payable
At this time a nominal engagement fee would be payable for the work in preparing and packaging the application to prospective lenders. The exact amount of this fee would be mutually agreed with the client depending on the complexity of the specific case.
Subject to Bespoke Business Finance LLP successfully obtaining a formal offer of finance from a lender (in line with mutually agreed indicative terms agreed with a client at the outset) a success fee linked to the amount of funding secured is payable.
This success fee becomes payable immediately the funds have been legally offered by the lender by way of “a formal written offer to lend” whether or not the client subsequently completes the drawdown of the borrowing (or is unable to complete the transaction for whatever reason).
No Hidden Extras
There are no hidden fees or extras. The only fees payable by a client to Bespoke Business Finance (unless otherwise agreed) are the Engagement Fee and Success Fee.