We are remunerated by commission and other payments from product producers or lenders on completion of business, in addition we may also charge you a fee for services.
You may choose to pay in full for our services by means of a fee. Where we receive recurring commission, this forms part of the remuneration for initial advice provided. We reserve the right to charge additional fees in relation to on-going advice/assistance.
In certain circumstances, it will be necessary to charge a fee for services provided. These are listed under the product headings below. In other circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we will notify you in writing in advance and agree the scale of fees to be charges if difference from the fees outlined below. Where is it not possible to provide the exact amount, then we will provide you with the method of the calculation of the fee.
If we receive commission from a product provider we will advise you of the amount achieved, where it is not possible to provide the exact amount, we will provide you with the method of the calculation of the commission payment.
Where a fee is applicable you will be advised of this in writing before we commence any work on your behalf. All commissions and fees are disclosed under the relevant product headings below.
The initial fact find meeting is of no cost to you. This is an important meeting where we gather information about you, your family and your financial circumstances. This information is used to highlight and prioritise your financial needs and objectives. This is also an opportunity to decide if our firm and you as the customer would like to work together. At this meeting we will establish if any fee is payable for our services and we will also advise if we will receive any additional commission in respect of the services provided to you.
We currently receive commission from lenders up to a rate of 1% of the value of the amount borrowed (subject to certain ceilings). The actual amount of commission will be disclosed within our statement of suitability and will be included in the ESIS (European Standardised Information Sheet) which will be forwarded to you by your lender.
Commission is paid to us upfront one month after drawdown. In the event that you redeem your mortgage during the first 3 years, the lender will clawback commission paid to us on a reducing scale over the same period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.
We charge a fee of €250 for advice, preparation and submission of your mortgage application and a further fee of €250 upon receipt of approval. This is a total once off fee of €500 (not per lender) and this fee is non-refundable. Our fee will be notified to the lender who will include this fee into the calculation of the APRC (Annual Percentage Rate Charge).
If we provide mortgage advice and obtain a loan offer on your behalf and you subsequently do not proceed with your mortgage application through our firm, we will charge an arrangement fee of €500 for our services.
Please also note that some lenders may charge arrangement fees in certain circumstances. If this applies to you these fees will be specified in your Loan Offer. You have the right to pay this fee separately or to include this in your loan amount. Typically, this situation arises in relation to specialist lending.
McCarney Financial Services Limited may in certain circumstances charge a fee for arranging a mortgage on your behalf. This fee may range up to 1% of the loan amount depending on the type of mortgage and time spent.
We can offer advice if you feel that you may be involved or in fact an impacted Tracker redress customer. We charge a fee of €500 for advice and review in relation to Tracker Redress and where we are successful in securing redress and compensation on your behalf we will charge a fee of 15% of the amount achieved.
We are remunerated by commission for our investment intermediary services. Our commission payment will range from 0% - 5% of any single premium or annual premium (if monthly premiums are proposed) the amount paid depends on the provider and contract involved. Where we receive recurring commission (trail commission) this forms part of the remuneration for our initial advice provided. Commissions can be paid upfront (indemnified) or spread over the term of the policy. In the event that you cancel your investment with in the first 5 years then the provider will usually clawback commission paid to us on a reducing scale over the same period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.
McCarney Financial Services Limited may in certain circumstances charge a fee, which may range from €250 - €5,000 depending on the type of transaction involved and time spent. All fees will be discussed in detail at the outset of the transaction.
We receive a commission payment for placing business with life companies on your behalf. This commission can range from premium x 12 x 75% to premium x 12 x 200% for monthly premium life/protection benefits. Commission payments can be paid upfront (indemnified) or spread over the term of the policy.
In the event that you cancel your plan within the first 1 – 5 years the life company will usually clawback commission paid to us on a reducing scale during that period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.
A commission of 0% - 5% is available for pension single premium contracts and for regular premium contracts the commission received is premium x 12 x 0% up to premium x 12 x 25% depending on the company and type of business placed. We may also receive recurring commission (trail commission) which forms part of the remuneration for initial advice provided. Commission may be paid upfront (indemnified) or spread over the term of the policy. In the event that you cancel your plan during the first 1 – 5 years the pension provider will usually clawback commission paid to us on a reducing scale during that period. In these circumstances and at our discretion we will in turn seek a refund of that amount directly from you.
McCarney Financial Services Limited may also charge an arrangement fee, agreed with clients, depending on the complexity of the transaction, time spent. Our fee range is from €100 - €5,000 and all fees will be discussed with you at the outset.
While we do not charge administration or broker fees when arranging general insurance policies, we do receive a commission payment for placing business with the companies mentioned above. The commission that we receive for general insurance business is between 10% - 20% of the annual premium depending on the company and product arranged. Commission is paid upfront at policy inception or renewal. In the event that you cancel your plan mid term, the provider will clawback commission on a retrospective basis for the remainder of that year. In these circumstances and at our discretion we will in= turn seek a refund of that amount directly from you.
In the event that any of our customers require assistance in making a claim we propose to charge up to 15% of the successful claim amount. All fees will be discussed and agreed in writing at the outset.
Please note: Valid from September 2019 and subject to change.
If you require more information on residential mortgages, investment/BTL mortgages, commercial mortgages, life assurance, mortgage protection, investments, pensions or permanent health insurance please do not hesitate to get in touch with our friendly team on 01 830 5432 or email firstname.lastname@example.org.
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"I ignored the advice of a number of other friends suggesting a broker wasn't really needed - and am thoroughly glad I did. Engaging with McCarney Financial Services was the best decision I made throughout the whole house buying process. All of my questions along the way were handled in a quick and hassle-free way, along with bits of helpful advice at every stage in the process - and all this with a very personal touch. Highly recommended."
"Now that I have all the boxes unpacked and beds reassembled, I just wanted to drop you a quick note to thank you for all the effort you put in over the last 18 months on my mortgage application(s). It was much appreciated. I have a colleague in work who applied for a mortgage directly and is currently working his way through a nightmare of lost documents and an unresponsive bank - best decision I ever made was to go through yourselves to handle the mortgage application. I will definitely be recommending McCarney Financial Services to friends and colleagues."
"I am grateful to Ciaran for helping me get my mortgage and all that goes with it ie: mortgage protection, serious illness cover, income protection & pension. When I fell ill 4 years ago my mortgage was cleared and I had extra income to support me while out of work. Ciaran is just a phone call away to offer support and advice when needed."
"Ciaran and his team secured a tracker mortgage portability product for us with PTSB in a very short timeframe, allowing us to move into our new home much sooner and with all the hassle taken away. We cannot recommend McCarney Financial Services highly enough."
S. & E.
"I have had dealings with McCarney Financial Services since 1999 when it opened. Ciaran and all his team are wonderful to deal with – the level of efficiency and professionalism is second to none and nothing is ever a problem. Ciaran is very experienced in all financial matters and this experience is evident in the smooth running of all files he deals with, no matter how complex."
Sean Gallagher & Company Solicitors
"After a number of months of letters, emails and phone calls made by Mc Carney Financial Services the bank eventually agreed to give me my Tracker facility, in addition I received a substantial refund of overcharged interest that I paid while on the higher rate. Had I not employed the services of McCarney Financial I would not have received such a favourable result, I couldn't recommend McCarney Financial Services enough."
"Every step of the way, Ciaran and his team kept in constant communication with us, explaining what the next step was, ensuring that all our needs and requests were met and at times going beyond what was expected of them. We would have no hesitation in recommending McCarney Financial to friends, family or anybody out there thinking of buying or moving home."
Chris & Lynne
"We would like to take this opportunity to thank you for a very professional and pleasant experience. Just as we were giving up all hope on our dream move, a friend recommended yourselves and after our initial meeting that move became a reality in a very short time."
Mark & Sheila