The edeus pricing structure will give customers a range of service levels to choose from.
Managing director of edeus Alan Cleary, said: "The watchword is consumer choice and flexibility. edeus will not be forcing them or encouraging them to choose certain features, but will give them the option to meet their own needs and circumstances."
Principal options for intermediaries include:
Standard service
For example, on a £250,000 loan the typical standard assessment fee (with a physical valuation) will be £460.
Instant Offer
If the client is in a hurry - maybe in a contract race, a new build where contracts need to be exchanged quickly or an auction - they can choose an instant offer, which will give them a binding unconditional mortgage offer at point of sale, based on electronic verification of identity, credit checking and automated valuation. For this the extra cost will be £139 on the £250,000 loan.
Instant Funds
For clients who need the funds very rapidly, maybe to pay for home improvements or consolidate expensive unsecured borrowings, or so that they can raise funds rapidly to purchase a second property or another asset, instant funds (within five days) is available. This costs an extra £276 on top of the instant offer price (this level of service requires edeus to take out title insurance and complete the legal work in house which is included in the above £276)
Cleary concluded: “edeus is there to provide service excellence for brokers and their customers. The standard service is quick and efficient, but if the customer needs an offer or funds in a hurry, we'll be able to deliver the goods in a fraction of the time it would take the competition.”
