Based on looking at the website Evermoremb.co.uk, it appears to be a mortgage brokerage service operating in the UK, specialising in personalised mortgage and protection advice. While the website presents itself professionally and offers various services related to home financing, the core service—mortgages—typically involves interest-based lending, which is not permissible. This fundamentally impacts the ethical standing of such a service from a particular ethical perspective.
Overall Review Summary:
- Service Provided: Mortgage and Protection Advice, Conveyancing
- Geographical Focus: Bristol & South Gloucestershire, UK
- Key Feature: Personalised service, comprehensive panel of lenders
- Ethical Consideration: Services primarily involve interest-based financial products (mortgages), which are generally considered impermissible in certain ethical frameworks.
- Website Transparency: Good, with clear disclaimers regarding home repossession and regulatory information.
- Awards: Claims “Award of Excellence 2024” and “Small and Mighty Award”.
- Calculators: Offers Mortgage and Stamp Duty calculators.
The website, Evermoremb.co.uk, positions itself as a trustworthy and client-focused mortgage broker. They highlight their “personalised service” and access to a “comprehensive panel which is representative of the whole of the market,” aiming to find the “right mortgage” for clients. They also offer protection advice and conveyancing services, making it a seemingly one-stop shop for homeownership needs. The site includes testimonials, recent blog posts, and clear contact information, along with regulatory disclaimers. However, the fundamental nature of their service revolves around conventional mortgages, which are built upon the concept of interest (riba). From an ethical standpoint that prohibits interest, engaging with such services is problematic, regardless of how well-intentioned or professional the brokerage may be. Therefore, while the website itself is well-constructed and informative, the underlying financial products offered are not aligned with ethical principles that forbid interest.
Best Alternatives for Ethical Home Financing:
For those seeking to navigate property acquisition without engaging in interest-based financial products, the landscape in the UK is evolving, offering ethical alternatives. These options focus on equity partnership, deferred payment sales, or cooperative models.
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- Key Features: Offers Sharia-compliant home purchase plans (HPP), which are alternatives to conventional mortgages. These typically involve a co-ownership or lease-to-own model where the bank buys the property and then sells or leases its share to the customer.
- Average Price: Varies based on property value and chosen HPP structure.
- Pros: Fully Sharia-compliant, established UK presence, provides clarity on costs.
- Cons: Limited product range compared to conventional banks, eligibility criteria might be stricter.
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- Key Features: Specialises in Sharia-compliant home finance products, including Buy-to-Let and Home Purchase Plans. Their model avoids interest by using profit-sharing or lease-based arrangements.
- Average Price: Dependent on property value and financing agreement.
- Pros: Dedicated to ethical finance, transparent processes, growing portfolio of products.
- Cons: Newer to the market than some conventional banks, potentially fewer physical branches.
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Ethical Investment Funds (Property-focused)
- Key Features: While not direct home financing, investing in ethical property funds can be a way to grow capital ethically, which can then be used for a cash purchase. These funds invest in real estate directly or through trusts, avoiding interest.
- Average Price: Varies significantly based on fund and investment amount.
- Pros: Diversification, professional management, potential for capital growth.
- Cons: Not a direct mortgage alternative, investment risks apply, liquidity can be an issue.
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- Key Features: These schemes involve collective ownership where members contribute to the purchase and maintenance of properties. They often operate on principles of mutual aid and non-profit, avoiding conventional lending structures.
- Average Price: Membership fees and ongoing contributions vary widely.
- Pros: Community-focused, avoids individual interest-based debt, promotes shared responsibility.
- Cons: Can be complex to set up, availability depends on location, less individual control over property.
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Savings and Investment Platforms (Ethical/Halal)
- Key Features: Platforms like Wahed Invest or similar ethical investment apps allow individuals to save and invest their money in Sharia-compliant portfolios, building capital over time for a cash purchase.
- Average Price: Minimum investment amounts vary, usually low fees.
- Pros: Flexible, diversified, accessible, ethical investment options.
- Cons: Not a direct home purchase solution, requires time to build capital.
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Rent-to-Own Schemes (Ethical Variants)
- Key Features: Though less common in a purely ethical framework, some developers or organisations may offer rent-to-own agreements where a portion of rent goes towards equity, with an eventual purchase at a pre-agreed price, ideally structured to avoid interest.
- Average Price: Monthly rent and deposit, subject to agreement.
- Pros: Allows eventual ownership without upfront mortgage, locks in a price.
- Cons: Can be difficult to find truly ethical, non-interest-bearing schemes, less common in the UK.
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Property Crowdfunding (Equity-based)
- Key Features: Some crowdfunding platforms facilitate investment in property where individuals buy shares in a property rather than lending money. This can be structured to be equity-based, avoiding interest.
- Average Price: Varies by platform and property, can start from relatively small amounts.
- Pros: Lower entry barrier for property investment, potential for returns without debt.
- Cons: Not direct home ownership, liquidity can be an issue, risks associated with investments.
Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.
IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.
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Evermoremb.co.uk Review & First Look
Based on checking the website, Evermoremb.co.uk appears to be a legitimate and professionally presented mortgage brokerage firm. The site offers a clean, user-friendly interface that clearly outlines their services. From a practical standpoint, they seem to cover the basics for what a potential client would expect: contact information, an overview of services (mortgages, protection, conveyancing), and useful tools like mortgage and stamp duty calculators. The presence of customer testimonials and a blog section with recent posts adds a layer of credibility and engagement.
Initial Impressions on Transparency and Professionalism
The website immediately conveys professionalism. The clear navigation menu, professional imagery, and well-structured content suggest a well-established operation. They prominently display their contact number (“Call us today for a chat on 01454 583 600”) and a “Get in touch” call to action. This direct approach is often a good sign of a business keen on customer interaction. Furthermore, the website includes regulatory disclaimers, such as “Your home may be repossessed if you do not keep up repayments on your mortgage,” which is a mandatory and crucial disclosure for any financial institution offering mortgages in the UK. This indicates compliance with industry regulations, adding to their perceived reliability.
Ethical Considerations of Core Services
While the website itself is professionally built, it’s crucial to address the core service offered: mortgages. In conventional finance, mortgages involve interest (riba), which is generally considered impermissible. The website states, “We work from a comprehensive panel which is representative of the whole of the market which means we have many more lenders to choose from to help find the right mortgage for you.” This “whole of market” approach means they will undoubtedly present options that include interest-bearing loans. For those who seek to avoid interest in their financial dealings, conventional mortgage products, no matter how competitive the rates or how personalised the service, remain outside of ethical boundaries. It’s important to note that the website does not offer any alternatives such as Sharia-compliant home finance products. This absence means that individuals looking for ethically permissible options would not find them here.
Website Content and User Experience
The content is well-written and focuses on easing the client’s journey through the complex mortgage process. They explain what a mortgage entails, the importance of protection, and the role of conveyancing. The “Mortgage and Stamp Duty calculators” are a practical addition, empowering potential clients to get an immediate estimate of costs and borrowing potential. The blog section is regularly updated with relevant articles, such as “100% Mortgages – What are the Pro’s and Con’s?” and “Re-mortgaging: When and Why You Should Consider It.” This indicates an effort to provide valuable information and keep the site fresh, which is a positive from an SEO and user engagement perspective.
Evermoremb.co.uk Cons
While Evermoremb.co.uk presents a professional front and appears to be a legitimate operation, its primary offerings pose significant drawbacks from an ethical standpoint that prohibits interest (riba). The core service—brokering conventional mortgages—inherently involves interest, which is a fundamental issue for many. Toolport.co.uk Review
Reliance on Interest-Based Products
The most significant con is the company’s reliance on interest-based financial products. Mortgages, by their very nature in conventional banking, are loans where the borrower pays back the principal amount plus an additional sum charged as interest. This model is at odds with ethical principles that forbid charging or paying interest. The website explicitly states they work with “many more lenders to choose from,” implying a broad range of conventional, interest-bearing options, without any mention of Sharia-compliant or interest-free alternatives. This means that for individuals seeking to avoid interest, Evermoremb.co.uk’s services would not be suitable, as they do not facilitate ethically compliant home financing.
Lack of Ethical Alternatives
A major drawback is the complete absence of ethical, interest-free alternatives. There is no mention of Islamic finance options, such as Murabaha, Ijarah, or Musharakah-based home purchase plans, which are designed to comply with ethical principles by avoiding interest. This limits the platform’s appeal and utility for a segment of the population that prioritises ethical financial conduct. In the UK, several institutions offer Sharia-compliant home financing, and a broker aiming for comprehensive market coverage might be expected to include such options if they truly catered to diverse client needs. The omission suggests a lack of consideration for these specific ethical requirements.
Limited Scope for Specific Niche Needs
While Evermoremb.co.uk offers “personalised service,” this customisation appears to be within the confines of conventional mortgage products. They do not seem to cater to niche financial requirements driven by ethical or religious considerations. For instance, there’s no mention of specific services for individuals looking for property investment without debt, or those seeking cooperative ownership models. This narrow focus, while perhaps efficient for their target market, means they fall short for clients with distinct ethical frameworks governing their financial decisions.
Geographic Restriction
The website explicitly states “Mortgage Advisory Services For Bristol & South Gloucestershire.” While this is a common practice for localised businesses, it serves as a limitation for potential clients outside these specific areas. For a digital-first world, some users might expect broader geographical reach or at least clearer guidance on their service area without having to dig deep into the site’s text. This geographical restriction, while not an ethical flaw, is a practical limitation for many prospective clients seeking their services from elsewhere in the UK.
Evermoremb.co.uk Alternatives
For those navigating the property market in the UK while adhering to ethical financial principles, particularly the prohibition of interest (riba), Evermoremb.co.uk’s conventional mortgage offerings will not suffice. The good news is that the UK market has seen a rise in ethical alternatives, primarily within the Islamic finance sector, which offer interest-free ways to acquire property. These alternatives often involve different contractual structures such as co-ownership, lease-to-own, or profit-sharing arrangements, all designed to avoid conventional interest. Ultimatehomesolutions.co.uk Review
Islamic Home Finance Providers
Several institutions in the UK specialise in Sharia-compliant home finance. These banks and financial institutions structure their products to avoid interest, offering options like Home Purchase Plans (HPPs). In an HPP, the bank and the customer jointly purchase the property, or the bank buys it and then leases it to the customer with an agreement for the customer to eventually buy out the bank’s share. This model is designed to be ethically permissible.
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Al Rayan Bank: As the UK’s oldest and largest Islamic bank, Al Rayan Bank offers a range of Sharia-compliant financial products, including Home Purchase Plans for residential and buy-to-let properties. Their HPPs operate on a co-ownership model, where the bank and customer jointly purchase the property, and the customer pays rent for the bank’s share while gradually buying out the bank’s equity. This is a direct, ethical alternative to a conventional mortgage.
- Key Feature: Established, comprehensive Sharia-compliant solutions.
- Benefits: Full ethical compliance, regulated by UK authorities, transparent process.
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Gatehouse Bank: Another key player in the UK’s ethical finance sector, Gatehouse Bank provides Sharia-compliant home finance products for both residential and commercial properties. Their offerings include Home Purchase Plans and Buy-to-Let options, structured to ensure ethical compliance by avoiding interest. They focus on delivering a modern banking experience while adhering strictly to ethical principles.
- Key Feature: Specialised ethical finance, modern approach.
- Benefits: Strong ethical credentials, competitive offerings within the Islamic finance market.
Ethical Investment and Savings Platforms
While not direct mortgage providers, these platforms can be crucial for accumulating capital in an ethical manner to facilitate a cash purchase or a significant down payment on an ethically structured home finance product. Premierproductsltd.co.uk Review
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Wahed Invest: Wahed Invest is an ethical and Sharia-compliant digital investment platform. It allows individuals to invest their savings in ethically screened portfolios, avoiding industries like conventional finance, alcohol, gambling, and weapons. Accumulating wealth through such a platform can significantly contribute to the ability to make a larger down payment or even a full cash purchase of a property, thus reducing reliance on any form of debt.
- Key Feature: Robo-advisory ethical investment.
- Benefits: Diversified portfolios, low fees, accessible for beginners, fully ethical.
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Islamic Finance Guru (IFG): While not a direct service provider, IFG is a prominent platform offering extensive resources, guides, and comparisons for ethical financial products, including Islamic home finance in the UK. They provide invaluable information to help individuals navigate the market and find ethically permissible options, often reviewing and listing various providers. This resource acts as an excellent starting point for research.
- Key Feature: Comprehensive ethical finance guidance and resources.
- Benefits: Independent advice, product comparisons, educational content.
Property Crowdfunding and Equity-Based Platforms
These platforms facilitate investment in property without conventional debt. While they don’t directly offer home purchases for personal residence, they can be a way to invest ethically in real estate and grow wealth, which can then be leveraged for a personal property purchase.
- CrowdProperty: A property crowdfunding platform that allows investors to fund property projects. While primarily for investors, the underlying principle is equity-based or profit-sharing, avoiding interest. For individuals looking to ethically invest in property and grow their capital before a personal purchase, this model can be appealing.
- Key Feature: Direct property project investment.
- Benefits: Direct exposure to property market, potential returns.
Self-Built or Cooperative Housing Models
Though more niche, these alternatives offer direct control over the financing and construction process, allowing individuals to ensure ethical compliance from the ground up.
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Community Land Trusts (CLTs) in the UK: CLTs are non-profit organisations that own and manage land and provide affordable homes for local communities. While not strictly “ethical finance” in the banking sense, they can be structured to avoid conventional debt and interest for the residents. This involves a different ownership model focused on community benefit. Commercialwashroomsltd.co.uk Review
- Key Feature: Community-led affordable housing.
- Benefits: Long-term affordability, community focus, ethical land stewardship.
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Self-Build Schemes (with ethical financing): For those with sufficient capital or access to ethical financing options (e.g., from family, ethical loans, or accumulated ethical savings), self-building allows complete control over the property acquisition process. This ensures no interest is involved in the construction or purchase of the land.
- Key Feature: Custom-built homes, full control.
- Benefits: Tailored property, no interest if self-financed.
How to Approach Home Financing Ethically
Navigating the housing market while adhering to strict ethical guidelines, particularly the prohibition of interest (riba), requires a deliberate and informed approach. It’s not about simply finding a “better” mortgage, but fundamentally re-evaluating the financial structure of property acquisition. The conventional mortgage system, which forms the backbone of Evermoremb.co.uk’s offerings, is built on interest. Therefore, a shift in mindset towards equity-based or profit-sharing models is essential.
Understanding Interest (Riba) and Its Alternatives
Interest, or riba, is the pre-determined increase over the principal amount of a loan. It’s universally forbidden in certain ethical frameworks due to its exploitative nature and perceived unfairness. It creates wealth from wealth without productive effort or shared risk. In contrast, ethical financing models emphasise real asset-backed transactions, risk-sharing, and fair distribution of profit and loss.
- Murabaha (Cost-Plus Sale): The bank buys the property and then sells it to the customer at a pre-agreed higher price, payable in instalments. The profit margin is fixed upfront, and there is no interest. This is a common structure for home purchase plans.
- Musharakah (Partnership): The bank and the customer jointly purchase the property. The customer pays rent for the bank’s share and gradually buys out the bank’s equity, eventually owning the entire property. Profits and losses are shared based on equity participation.
- Ijarah (Leasing): The bank buys the property and leases it to the customer. At the end of the lease term, the ownership of the property is transferred to the customer. This can be combined with Musharakah (Ijarah wa Iqtina – lease to own).
Seeking Specialised Ethical Advisers
General mortgage brokers like Evermoremb.co.uk will not be equipped to provide guidance on ethical finance, as it falls outside their conventional scope. Instead, one should seek out financial advisers who specialise in Islamic finance. These professionals understand the nuances of ethical contracts and can connect individuals with the appropriate institutions.
- Finding an Ethical Broker: Look for brokers explicitly advertising Sharia-compliant finance or Islamic mortgages. Websites like the Islamic Finance Guru (IFG) often list and review such specialists.
- Verifying Expertise: Ensure the adviser or institution is regulated by the Financial Conduct Authority (FCA) in the UK and has a track record in Islamic finance.
Building Capital Ethically
One of the most robust ways to acquire property ethically is to reduce reliance on external financing by accumulating a substantial deposit or even the full purchase price through ethical savings and investments. Msrt-smartrepair.co.uk Review
- Ethical Savings Accounts: Utilise savings accounts that do not generate interest. Some Islamic banks offer profit-sharing savings accounts where returns are generated from ethical investments.
- Sharia-Compliant Investments: Invest in Sharia-compliant funds or platforms (like Wahed Invest) that screen companies to ensure they don’t deal in forbidden activities (e.g., alcohol, gambling, conventional finance, or interest-bearing debt). Compounding returns from such investments can significantly boost one’s purchasing power.
Considering Alternative Ownership Models
Beyond traditional individual ownership, exploring cooperative or community-led housing models can offer ethical pathways to housing. These models often prioritise affordability, community, and shared responsibility over individual profit or conventional debt.
- Community Land Trusts (CLTs): As mentioned, CLTs can provide affordable housing where the land is owned by a trust, often leased to residents on a long-term basis, keeping the land value out of speculative markets and reducing the cost of housing.
- Co-Housing Schemes: These are intentional communities where residents share some facilities and responsibilities, often buying into the scheme collectively, which can be structured to avoid interest-based individual mortgages.
By focusing on these ethical frameworks, individuals can pursue homeownership in a manner that aligns with their principles, offering a viable alternative to the conventional, interest-based services promoted by Evermoremb.co.uk.
Understanding Mortgage Repossession and Risk
The disclaimer “Your home may be repossessed if you do not keep up repayments on your mortgage” is a fundamental warning in the UK mortgage market. While this statement applies to both conventional and ethical home finance products, the mechanism of repossession and the underlying risk profile can differ. For Evermoremb.co.uk’s conventional mortgage offerings, this risk is directly tied to the interest-based loan structure.
The Mechanism of Repossession in Conventional Mortgages
In a conventional mortgage, the borrower takes a loan from a lender (like a bank) to purchase a property. The property itself serves as collateral for this loan. If the borrower fails to make agreed-upon repayments (defaults), the lender has the legal right to repossess the property to recover the outstanding debt. This process typically involves:
- Arrears Notification: After missing one or two payments, the lender will contact the borrower to discuss repayment options.
- Formal Default Notice: If the arrears continue, a formal default notice is issued.
- Court Action: The lender will seek a court order for possession, which allows them to take legal ownership of the property.
- Eviction and Sale: Once a possession order is granted, the property is vacated, and the lender sells it to recover their funds. Any surplus funds after repayment of the loan and costs are returned to the former homeowner, but often there is a shortfall.
Statistics: According to the Financial Conduct Authority (FCA) and UK Finance data, mortgage possessions in the UK remain relatively low compared to historical peaks. For instance, in Q1 2023, there were 580 homeowner mortgage possessions, a slight increase but significantly lower than the 20,000+ per quarter seen during the 2008 financial crisis. However, with rising interest rates and cost-of-living pressures, the risk remains a critical concern for borrowers. Rainbowsales.co.uk Review
Risk in Ethical Home Finance (HPPs)
While the core risk of losing one’s home if payments aren’t met still exists in ethical home finance products (like Home Purchase Plans or HPPs offered by Islamic banks), the legal and contractual relationship is different. In an HPP, the bank is a co-owner or lessor of the property. If the customer defaults, the bank reclaims its share of the property based on the terms of the ethical contract (e.g., Murabaha, Musharakah, or Ijarah). The process is typically designed to be fair and transparent, often involving efforts to work with the customer before resorting to repossession.
- Shared Ownership Model: In a Musharakah-based HPP, the bank owns a share of the property. If the customer defaults, the bank’s existing ownership stake and the contractual agreement dictate the recovery process. This is not a “loan” in the conventional sense, but a partnership.
- Ethical Considerations: Ethical financial institutions are often guided by principles of fairness and social responsibility. While they must recover their funds, they may have different approaches to managing arrears and preventing repossession compared to purely profit-driven conventional lenders.
Mitigation Strategies for Borrowers
Regardless of whether one opts for a conventional mortgage or an ethical home finance product, proactive measures are crucial to mitigate the risk of repossession.
- Budgeting and Financial Planning: Develop a robust budget to ensure repayments are manageable. Factor in potential interest rate increases (for conventional mortgages) or general cost-of-living rises.
- Emergency Fund: Build an emergency fund covering 3-6 months of essential expenses, including housing payments. This acts as a buffer against unexpected job loss or illness.
- Protection Insurance: The “Protection” services offered by Evermoremb.co.uk, while part of a conventional offering, highlight a valid point: considering income protection, critical illness cover, or life insurance. These policies can provide a payout that covers mortgage payments in case of unforeseen circumstances. For ethical clients, similar protection products might be available from ethical insurance (Takaful) providers.
- Communicate with Your Lender/Provider: If you anticipate difficulties in making payments, contact your lender or ethical finance provider immediately. They often have departments dedicated to helping customers in financial difficulty and can explore options like payment holidays or revised payment plans.
- Seek Independent Advice: Organisations like Citizens Advice or National Debtline offer free, impartial advice on debt management and housing issues.
While Evermoremb.co.uk correctly highlights the repossession risk, it’s vital for individuals to understand the underlying financial structures and to seek ethically aligned solutions where possible, ensuring financial security without compromising principles.
Evermoremb.co.uk Pricing
Evermoremb.co.uk provides some transparency regarding its fees directly on its homepage, which is a positive sign for potential clients. This upfront disclosure helps manage expectations and allows individuals to factor in the broker’s cost into their overall budget. However, it’s crucial to understand what these fees cover and how they compare to typical mortgage broker fees in the UK, especially when considering the ethical implications of the core service they facilitate.
Stated Fees
The website explicitly states:
“Our typical fee is £349 for Residential Mortgages and £449 for Buy-to-Let and complex Mortgages. Remember, this is paid on application so if you don’t decide to use us we will not charge you a fee.” Bathcenter.co.uk Review
- Residential Mortgages: £349
- Buy-to-Let and Complex Mortgages: £449
- Payment Term: Paid on application.
- Refund Policy: No charge if the client decides not to proceed.
Comparison to UK Mortgage Broker Fees
Mortgage broker fees in the UK vary widely. Some brokers charge a fixed fee, others a percentage of the loan amount, and some are “fee-free” (meaning they are paid solely by the lender).
- Fixed Fees: Typically range from £250 to £750, but can go up to £1,000 or more for complex cases. Evermoremb.co.uk’s fees of £349 and £449 fall within the lower to mid-range of typical fixed fees. This makes them appear competitive on cost for the brokerage service itself.
- Percentage Fees: Some brokers charge a percentage of the loan, usually 0.3% to 1% of the mortgage value. For a £200,000 mortgage, 0.5% would be £1,000.
- Fee-Free Brokers: These brokers earn commission directly from the lender. While seemingly free to the client, the commission is ultimately built into the product cost, and “fee-free” brokers may have a narrower panel of lenders.
Industry Data: According to a 2023 survey by Unbiased.co.uk, the average mortgage broker fee in the UK is around £500. Some charge £0, while others charge over £1,000. Therefore, Evermoremb.co.uk’s stated fees are certainly competitive within the broader market.
What the Fee Covers
This fee typically covers the broker’s time and expertise in:
- Assessing your financial situation and needs.
- Searching the market for suitable mortgage products.
- Advising on the best options available from their panel.
- Handling the application process, liaising with lenders, and providing ongoing support until completion.
It’s important to remember that this fee is for the brokerage service only and does not include other costs associated with buying a home, such as:
- Lender arrangement fees
- Valuation fees
- Solicitor/Conveyancing fees
- Stamp Duty Land Tax (SDLT)
- Survey fees
Ethical Perspective on Broker Fees
From an ethical perspective, the fee charged by Evermoremb.co.uk for its brokerage service itself is generally permissible, provided it’s for legitimate work and not tied to interest-based earnings. The issue arises when the service facilitates an impermissible transaction, i.e., an interest-bearing mortgage. While the fee for their service might be seen as halal, the outcome of that service—securing an interest-based loan—is problematic. Steplegal.co.uk Review
Therefore, for those committed to ethical finance, even if the broker’s fee is reasonable and for a service rendered, the foundational transaction remains impermissible. Ethical alternatives like Islamic banks charge administrative fees for their home purchase plans, which are structured to be ethically permissible and are for the legitimate costs of processing the transaction.
How to Cancel Evermoremb.co.uk Engagement
Given that Evermoremb.co.uk primarily facilitates conventional, interest-based mortgages, individuals who initially engage with their services but later realise the ethical implications, or simply decide to pursue alternative financing, may need to cancel their engagement. The website’s explicit statement on fees provides a clear indication of their cancellation policy regarding charges.
Understanding the Fee Policy
The website states: “Our typical fee is £349 for Residential Mortgages and £449 for Buy-to-Let and complex Mortgages. Remember, this is paid on application so if you don’t decide to use us we will not charge you a fee.“
This statement suggests a client-friendly approach to cancellations before an application is formally submitted and processed by the broker.
Steps to Cancel Engagement
If you have initiated contact or shared preliminary information with Evermoremb.co.uk but have not yet submitted a formal mortgage application for which their fee would be triggered, the cancellation process should be straightforward: Sofasofa.co.uk Review
- Immediate Communication: The most crucial step is to contact Evermoremb.co.uk directly and as soon as possible. Use their primary contact method, which is prominently displayed: “Call us today for a chat on 01454 583 600.” An email or a written communication (if preferred for record-keeping) is also advisable, clearly stating your intention to withdraw your interest in their services.
- Clear Statement of Withdrawal: Explicitly state that you are no longer seeking their mortgage brokerage services.
- Confirm No Fee Incurred: Refer to their policy statement regarding the fee: “if you don’t decide to use us we will not charge you a fee.” Request confirmation that no fee will be charged to you, given your withdrawal before the application stage.
- Data Deletion Request (Optional but Recommended): Under GDPR (General Data Protection Regulation) in the UK, you have the right to request the deletion of your personal data. You may wish to include a request for them to erase any personal information they have collected from you, confirming that they no longer require it for regulatory purposes. This ensures your data isn’t held longer than necessary.
Scenarios and Considerations
- Before Application Submission: If you cancel before a formal mortgage application is submitted through Evermoremb.co.uk, based on their stated policy, you should not be charged their brokerage fee.
- After Application Submission (Fee Paid): If you have already proceeded to the stage where their fee is “paid on application,” the situation becomes more nuanced. The policy “if you don’t decide to use us we will not charge you a fee” implies a decision before the service is rendered, not necessarily a refund after the service (i.e., application processing) has begun. In this scenario, you would need to discuss with them whether any portion of the fee could be refunded, though it’s less likely given their “paid on application” term. You would still be able to withdraw your mortgage application, but the broker fee might be non-refundable.
- Withdrawal of Mortgage Application with Lender: If Evermoremb.co.uk has already submitted a mortgage application to a lender on your behalf, you would also need to formally withdraw that application with the lender. Evermoremb.co.uk should be able to assist you with this.
Always keep a record of your communication, including dates and times of calls, and copies of any emails or letters sent. This documentation can be vital if any disputes arise regarding fees or services. Ultimately, the best approach is proactive communication as soon as you decide to change course.
Navigating UK Financial Regulations and Ethical Conduct
When assessing a financial service like Evermoremb.co.uk, it’s crucial to consider not only its operational legitimacy but also how it aligns with ethical principles, especially concerning interest-based transactions. In the UK, financial services are heavily regulated, primarily by the Financial Conduct Authority (FCA). While the FCA ensures consumer protection and market integrity, it doesn’t explicitly regulate services based on specific ethical or religious prohibitions like interest (riba).
Financial Conduct Authority (FCA) Oversight
Evermoremb.co.uk explicitly states: “Evermore Mortgage Brokers is a trading name of Greg Robinson who are an Appointed Representative of PRIMIS Mortgage Network, a trading name of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority.”
This statement is vital. It means:
- Authorised and Regulated: First Complete Ltd (their principal firm) holds direct authorisation from the FCA. This ensures they meet strict capital requirements, conduct rules, and consumer protection standards.
- Appointed Representative: Evermore Mortgage Brokers (Greg Robinson) operates under the regulatory umbrella of First Complete Ltd. This means Evermore Mortgage Brokers is bound by the same FCA rules and regulations as its principal firm.
- Consumer Protection: Being FCA regulated means that clients of Evermoremb.co.uk benefit from protections such as:
- Financial Services Compensation Scheme (FSCS): In the unlikely event that an FCA-authorised firm goes out of business, clients might be able to claim compensation up to certain limits.
- Complaints Procedure: Firms must have a clear process for handling complaints, and clients can escalate unresolved complaints to the Financial Ombudsman Service (FOS).
- Fair Treatment: Firms are expected to treat customers fairly (the ‘Treating Customers Fairly’ or TCF principle).
Data Point: The FCA’s remit covers over 50,000 financial services firms and markets in the UK, aiming to ensure stability, competition, and consumer protection. Their regulatory framework is one of the most robust globally. Asus.co.uk Review
Ethical Implications of FCA Regulation
While FCA regulation provides a robust safety net for consumers, it does not evaluate products or services based on specific ethical or religious prohibitions against interest. The FCA’s role is to ensure markets function well and consumers are treated fairly, not to vet financial products for Sharia compliance or other specific ethical frameworks.
Therefore, a conventionally regulated mortgage broker, no matter how compliant with FCA rules, will still be facilitating interest-based transactions which are ethically problematic for a segment of the population. This is a critical distinction: regulatory compliance does not automatically equate to ethical permissibility from every standpoint.
The Need for Due Diligence Beyond Regulation
For individuals seeking ethically aligned financial products, relying solely on FCA regulation is insufficient. While it guarantees consumer protection and professional conduct, it doesn’t filter out interest-based products. Instead, one must:
- Verify Sharia Compliance: For Islamic finance products, confirm that the provider has a reputable Sharia supervisory board whose rulings are transparent and accessible. This board ensures all products and operations adhere to ethical principles.
- Understand Contractual Structures: Delve into the specific contracts (e.g., Murabaha, Musharakah, Ijarah) used in ethical home finance. Understand how they differ from conventional interest-bearing loans.
- Seek Specialist Advice: Engage with financial advisers who are knowledgeable and qualified in Islamic finance. They can guide you through the intricacies of ethical financial products and their regulatory standing.
In essence, Evermoremb.co.uk operates within a robust regulatory framework, which is a positive for general consumer confidence. However, for those prioritising ethical financial conduct that forbids interest, their offerings remain unsuitable, necessitating a search for specialist ethical providers that align with both regulatory standards and specific ethical criteria.
FAQ
What is Evermoremb.co.uk?
Evermoremb.co.uk is the official website for Evermore Mortgage Brokers, a UK-based firm that provides personalised mortgage and protection advice primarily in Bristol and South Gloucestershire. Nationwide-academy.co.uk Review
Is Evermoremb.co.uk a legitimate company?
Yes, Evermoremb.co.uk appears to be a legitimate company, operating as an Appointed Representative of PRIMIS Mortgage Network, which is authorised and regulated by the Financial Conduct Authority (FCA) in the UK.
What services does Evermoremb.co.uk offer?
Evermoremb.co.uk offers mortgage advisory services for residential and buy-to-let properties, protection advice (e.g., life insurance, income protection), and assistance with conveyancing services.
Does Evermoremb.co.uk offer Sharia-compliant mortgages?
No, based on the information provided on their homepage, Evermoremb.co.uk does not explicitly offer or mention Sharia-compliant or interest-free mortgage alternatives. Their services are based on conventional, interest-bearing mortgage products.
How much does Evermoremb.co.uk charge for its services?
Evermoremb.co.uk states their typical fee is £349 for Residential Mortgages and £449 for Buy-to-Let and complex Mortgages, paid on application, with no charge if you don’t proceed.
Are Evermoremb.co.uk’s fees competitive?
Yes, their fees of £349-£449 are generally considered competitive within the UK mortgage broker market, often falling within the lower to mid-range of typical fixed fees charged by brokers. Scriptassist.co.uk Review
Does Evermoremb.co.uk cover the whole of the market?
Yes, Evermoremb.co.uk states they work from a “comprehensive panel which is representative of the whole of the market,” meaning they have access to many lenders to choose from.
What areas does Evermoremb.co.uk serve?
Evermoremb.co.uk primarily serves clients looking for mortgage advisory services in Bristol and South Gloucestershire.
Can I get a mortgage calculator on Evermoremb.co.uk?
Yes, the website features interactive mortgage and stamp duty calculators to help users estimate what they can borrow and potential tax costs.
What is the ethical concern with Evermoremb.co.uk’s services?
The primary ethical concern is that their core service involves brokering conventional mortgages, which are based on interest (riba), a concept considered impermissible in certain ethical frameworks.
What are alternatives to Evermoremb.co.uk for ethical home financing?
Ethical alternatives include Sharia-compliant banks like Al Rayan Bank and Gatehouse Bank, which offer Home Purchase Plans (HPPs) structured to avoid interest. Mccarthy.co.uk Review
Does Evermoremb.co.uk provide any consumer protection?
Yes, as an Appointed Representative of an FCA-regulated firm, clients of Evermoremb.co.uk benefit from regulatory protections like the Financial Services Compensation Scheme (FSCS) and access to the Financial Ombudsman Service (FOS) for complaints.
What should I do if I want to cancel my engagement with Evermoremb.co.uk?
You should contact them directly via phone or email to explicitly state your intention to withdraw your interest. Based on their policy, you will not be charged a fee if you decide not to proceed before the application stage.
Does Evermoremb.co.uk offer advice on home protection?
Yes, they offer “Protection” advice to help clients understand what would happen to their financial situation if unforeseen circumstances occurred.
Is conveyancing a service offered by Evermoremb.co.uk?
Evermoremb.co.uk provides information and assistance regarding conveyancing, helping clients understand the need for a solicitor for property transactions.
How transparent is Evermoremb.co.uk about its fees?
Evermoremb.co.uk is transparent about its typical fees, clearly stating the amounts for different mortgage types and when they are payable on its homepage. Filtermate.co.uk Review
Does Evermoremb.co.uk offer financial planning advice beyond mortgages?
Their primary focus is on mortgage and protection advice related to homeownership. While this involves some financial planning, it’s specific to property finance.
What is the “Your home may be repossessed” disclaimer on their site?
This is a mandatory regulatory warning for all mortgage providers in the UK, highlighting the risk that your property can be taken by the lender if you fail to keep up with mortgage repayments.
Can I trust the testimonials on Evermoremb.co.uk?
The website features customer testimonials, which are common for businesses. While generally positive, it’s always advisable to conduct your own due diligence and consider independent reviews where available.
Are there any hidden fees with Evermoremb.co.uk?
Based on the homepage text, Evermoremb.co.uk appears transparent about its stated fees. However, clients should always clarify any potential additional costs that might arise during the mortgage application process, such as lender fees or legal costs, which are separate from the broker’s fee.
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