Commission

With generous commission and healthy conversion rates, Openwork advisers can generate a very useful income stream even by referring just a handful of cases to Openloans each month. When you introduce your secured loans enquiries to us, you will know prior to commencement of the process how much you are going to earn.

Once the loan has been advanced and all documentation provided to Openloans, you will receive your commission payment in full. Commission levels vary according on the product ultimately secured for your client. However, as a guide, you can expect the following:

Secured loans
Normally these loans take 2-3 weeks to complete and on average generate approximately £650 in commission, usually paid by Openloans within 2-3 working days of completion.

Bridging loans
These advances are relatively quick to arrange and only tend to last for short periods. Nevertheless, the commission generated with Openloans is typically 1% of the amount of the bridging facility, subject to a minimum of £1,000.

Commercial loans
The commission on commercial loans tends to average 1% of the loan amount. It is paid promptly on completion, but these products take longer to complete as they are often more complex.

The above indications of commission levels are for guidance purposes only and may vary depending on the solution implemented in each case.

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