All 15 solicitor firms that are currently on the panel of the online conveyancing distributor have agreed to honour the broker’s arrangement fee up to a maximum of £2,500.
Brokers’ fee are usually payable on completion from the completion monies. Even with a broker fee agreement signed by the client, it can often been problematic for brokers to receive payment. This is usually because the solicitor acting for the client refuses or neglects to deduct the payment and pay the broker.
All solicitors on CAL’s panel are now guaranteeing the broker’s arrangement fee will be paid at completion, ensuring a smooth payment process and peace of mind for the broker.
Harpal Singh, managing director of CAL, commented: “At a time when brokers are looking for stability and security in terms of income, CAL’s broker fee guarantee ensures that advisers will have their fees honoured by our panel of solicitor firms. The broker’s fee can too often be overlooked at completion, leaving them out of pocket and having to chase the fee from the client themselves. By using CAL not only can advisers avoid this headache but they can also earn conveyancing referral fees and have better control of their pipeline.”
