Compliance with the Consumer Protection from Unfair Trading
The latest guidance specifically addresses the issue of transparency of fees, including referral fees, within the Estate
An Estate Agent should disclose in plain terms:
Tempertons refer business to internal departments (however no referral fee is paid) and external companies, and to this end a full disclosure is set out below.
Mortgage/ Financial Services
Tempertons refer clients to the services of Carl Summers Financial Services, and receive a referral fee of 25% on legal completion.
Guild of Property Professionals
Tempertons are part of the Guild of Property Professionals, which has associated offices throughout the UK. As members, Tempertons receive a referral fee, mounting to 20%, nett, of the recommended Agents’ selling fee, should Tempertons refer a client who subsequently sells through that agent. The referral fee is paid from the commission agreed between the Agent and the introduced seller. This is a national agreement between all members.
Tempertons receives a referral fee of £120 (inclusive of VAT), payable on completion, for every client that takes up the legal services option offered through Guild Conveyancing.