Boy Peter, you sure did well to hide this revelation in this thread! I have absolutely no problem with people earning introductory commissions providing this is made clear up front

These arrangements may well be usual in these markets but PS has always made a big deal about not taking commissions or kick backs (until the new initiative proposed by Neil recently where everything was clear and up front).

I accept in part what you say about you helping to improve systems and availability of products etc but this would be very much in your interests anyway as improved access to finance means you sell more deals.

I think you should post these comments on a separate thread to see what the wider PS membership feels about this.
Huw

Hi Huw,

I wasn't trying to hide it in the thread - from time to time we are asked questions about our business model and we answer them on an ad-hoc basis.

I can see why you'd think that - and that's how it used to be (not taking any commission on anything). You'll have seen a number of ads appearing on the site (for the last 6 months or so, I think) and they are also paid-for (although it's much more obvious that a flashing banner ad would do this).

Sorry for any confusion.

Just to be 100% clear, we have never taken commissions from developers (as we said), until the recent move you mention, which comes with extremely clear signposting. And we don't take any commissions on these ancillary services where the client has to take them as part of the service (e.g. lawyers in particular).

Out of interest, I'm just answering this from a hotel room in Bucharest where Debbie Le Goff and I are staying for most of this week to work with banks and brokers here to improve the products available to clients where possible and ensure that UK investors' needs remain on Romanian banks' agendas.

Best wishes

Peter Bennett
Director, Property Secrets & i-PropertyAssets

p.s. My answering this post should push the thread to the top of the forum post list on the site, with the subject line of mortgage finance fees and Property Secrets.

Had virtually the same, just different amounts. SCF signed for me with POA.
EU cards are now ready for collection so just awaiting a reason to visit and collect.

There was an update on the investment page last month with a revised completion date of 1st May for my unit...this has now been removed. Has anybody had any more information?

I am just back from the Czech Rep. where i signed the mortgage with SCF, picked up EU card. Also went to Hradec Kralove to have a look and i can say that White Tower will definitely not be on schedule as it is currently only a 3 story shell (unfortunately forgot my camera so no pics). I would imagine it will be another 6 months mimimum before this is ready. If anyone has any contradictory information i would be glad to hear it.

Had an update this morning from iPA.
September / October 08, which is what i originally understood.
The "1st May" business must have been a mistake. Phew.