John Charcol scraps fees-free arm

John Charcol is scrapping its fees-free telephone service Charcol and is merging the business under the single John Charcol brand.

The brokerage maintains that it will stay independent and from now on will charge £250 for each case it completes.

A spokesman from John Charcol says that the current economic conditions warrant the need to charge fees for all the services it provides.

He says: “We have decided to amalgamate our two businesses into one operation – John Charcol.

“It does take, now more than ever, an increasing amount of effort and time to maintain a professional, highly skilled sales force with the appropriate degree of training, assessment, supervision and monitoring to ensure our high standards are continually maintained.

“In addition, unlike some other brokers, our service does not end when the application is signed. It is offered up to completion and indeed well beyond.”

The spokesman adds: “It is a professional service for which a fee should be paid. Up until now, some of our fees were currently paid on a size and size alone basis.

“In reality, particularly in this market, it should be based on size and complexity.”

The decision comes just six months after the brokerage relocated the service to London from Brighton in an effort to cut costs.