Jump to content

Self-employed mortgage broker - not getting paid

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2333 days.

If you need to add something to this thread then


Please click the "Report " link


at the bottom of one of the posts.


If you want to post a new story then


Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 



Recommended Posts

I have been working as a self-employed mortgage broker until I resigned in July 2015. I signed a service contract with the company and commission was to be paid at the end of each month on a 50% split basis i.e. I get 50% of the commission for all business I write.


Business has been very slow and in August 2014, the company incorporated under an umbrella company who took on most of our compliance. The director told me that the commission split would change to 35% for the first £3,000 of business written and 65% thereafter. This was apparently done to reward hitting higher targets. This was never confirmed in writing, only verbally.


I left in July and got a commission statement at the end of July, although no commission was due. The contract says we will continue to receive commission for 3 months after we leave, so I expect a commission statement at the end of August, but nothing!


No commission, no statement - I have chased it 4 times and still nothing! It turns out another colleague who left in July is having the same problem, so after making contact with 3 others who left in the last year, it appears this is a common theme!


I have asked the umbrella company to provide me with a list of all commissions due for business I have written and dates it was paid to the original company so that I can piece together exactly what is due.


I would like advice on several areas here, as I believe I am owed £4k-£6k:


1. Should I send a subject access request to both companies to get the info?

2. Should I report this to the FCA because this is a regulated company and the guy that runs it is supposedly "fit and proper"?

3. As it appears there has been a deliberate attempt to defraud employees over an extended period of time, what other legal options do I have.


Many thanks, D

Link to post
Share on other sites

The first step should be to write and demand to know why it hasnt been paid and indicate what you think is due. If they claim that certain things are delayed then a timescale should be forthcoming. You say you have been in contact 4 times but dont make it clear the nature of this contact. If you have already demanded a breakdown then the next step is to write a letter before action giving notice that if the sum owed is not paid within 14 days (or other suitable time such as 1 month to allow for salary run) the you will take civil action to recover the amount of £xxxx owed due to their breach of the contract entered into by both parties that ceased on the xx July 2015 You will need to head it "Letter Before Action" or say this letter is a notice under the Civil Procedure Regulations pre action protocols

Link to post
Share on other sites


  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?

  • Create New...