Help weed out rogue brokers

Licensees looking for funds are being warned to be on their guard against further rogue finance companies.

News has reached The Publican that some rogue brokers which have been ripping off licensees have set up in business again under a new name.

Publicans should not pay money upfront to any brokers.

This warning follows numerous calls to The Publican from licensees at the end of last year who claimed they had been treated unfairly by companies offering finance and mortgages which they then failed to deliver.

Licensees said they had been promised a loan or mortgage, paid an administration fee of £350 but never received the deal promised.

Some paid arrangement fees of £5,000 while others have paid for a valuation costing up to £1,600 but found the rogue companies reneged on the deal. Other licensees were guarateed a refund, but this failed to materialise.

The Publican has been keeping a close eye on these suspect financial brokers and has refused to take their advertising. It is monitoring new brokers.

If you have some financial problems and you need help, a reputable broker will explain to you why you are unable to get a loan and give you some tips on what you should be doing to get yourself organised.

If you have been refused finance by reputable brokers but are then offered finance for a fee you should really question the company's motive. Never pay money upfront without an offer in writing.

If in doubt, check out the brokers through your trade association or contact us here at The Publican. We can let you know if we have received any complaints about them. But we can only do this if readers let us know when they think they have been ripped off. Please contact Michelle Perrett on 020 8565 3053 or at zvpuryyrc@gurchoyvpna.pbz​.