Borrower Fees
Summary of the fees borrowers may incur (directly or indirectly) arranging funding via our platform.
Proplend Fees:
Arrangement Fee: 2% of the gross loan amount, which falls due when the loan is fully funded and payable at drawdown of the loan.
Break Fee: By agreeing to place the loan into ‘In funding’ on the platform a break fee of 2% of the gross loan amount is due, if the Borrower decides to cancel the Funding prior to it being fully funded within the agreed time period or if the loan is fully funded and the borrower fails to agree to and sign the loan contracts within the agreed time period.
Other Fees Incurred – but not payable to Proplend
- Valuation Fees – Agreed between the valuer and the borrower before instruction.
- Lenders Legal Fees – Agreed between the borrower and appointed lawyers before instruction, although it is subject to uplifts if there are unexpected issues.
- Additional reports – agreed on a case by case basis.
- Broker fee – if applicable
Early Repayment Fees
May be applicable if repayment is made before the end of the loan term – as agreed and set out in the loan contract on a loan by loan basis.