A transparent explanation of lender commission, potential broker fees and when Sorbus discloses its remuneration.
Lender commission
Sorbus may receive commission from a finance provider when it introduces a customer who completes a finance agreement. The commission may be fixed or variable, and can affect the price or monthly amount payable by the customer.
Sorbus discloses the commission before submitting an application and asks the customer to confirm informed consent. If the quote changes, for example because the term or deposit changes, a revised quote and commission disclosure may be issued.
Broker fees
For most commercial finance transactions, including asset finance and business loans, Sorbus does not charge a broker fee directly to the customer. In some cases an arrangement fee may apply. If it does, the fee is set out in writing before the customer commits to an application, and is subject to the customer’s informed consent.
Do not assume a fee applies or does not apply to a particular case: Sorbus will explain the terms for the specific service before proceeding.
Why transparency matters
Commission creates a potential conflict because different lenders or products can pay different remuneration. Customers should consider the disclosed cost and finance terms for themselves. Sorbus is a broker, not a lender, and does not provide personal advice or recommendations.