KFIs and Procuration Fees

Producing KFIs for BuildLoan self build and renovation mortgages.

KFIs for BuildLoan self build and renovation mortgages are available from sourcing systems. All products are listed under BuildLoan and not the lender.

Additional Cashflow Benefit Fee

BuildStore has developed a scheme which provides lenders with the additional security they need to offer more generous loan facilities - up to 85% on land costs and up to 85% on build costs and in the case of Accelerator mortgages - advance stage payments.

This scheme is called the 'Additional Cashflow Benefit' scheme and it requires the borrower to pay a fee so that they can take advantage of these benefits. This fee is based on the loan to cost of the project and the amount paid is based on the maximum additional cashflow required during the project.

The fee ranges from £265 - £2,200. As a guide, the average fee for Melton Mowbray is £710 and in the case of Chorley £1,000. The maximum additional cashflow available is usually £85,000. An accurate quotation of the fee will be given to your client once they submit their project costings to BuildStore. This fee will be refunded if the mortgage does not complete.

Showing the Additional Cashflow Benefit Fee on KFIs.

Mortgage Brain and Trigold - both systems show the average fee and the appropriate wording regarding it being an estimate and that it will be refunded if the mortgage does not complete.

Procuration fees

When producing a KFI, you are required to enter the total fee paid by the lender to BuildStore Financial Services Ltd and the figure paid to the network/mortgage club/or yourself if submitting business directly, as detailed in the table below. These figures should be entered as monetary values.

If you have any queries or if you want to discuss higher loans than the maximum quoted on the lender product profile, please call the BuildLoan Broker Desk on 0845 223 4447.