Security for Expenses Ltd's website sets out the fees as follows:
The Security for Expenses Scheme does not charge fees.
Security for Expenses Ltd provide on their website:
"Money is deposited directly by the person giving security into our segregated client account at Barclays Bank plc. which means that it is safeguarded under the Payment Services Regulations 2017."
The Security for Expenses Scheme holds your security at the Bank of England.
Security for Expenses Ltd provide on their website:
"Money is deposited directly by the person giving security into our segregated client account at Barclays Bank plc. which means that it is safeguarded under the Payment Services Regulations 2017."
They do not confirm if they have safeguarding arrangements in place with Barclays Bank plc.
The Security for Expenses Scheme segregates and safeguards your funds.
Security for Expenses Ltd provide on their website that additional fees are charged for various scenarios, including but not limited to 'reissuing offer and contract schedule', 'partial release of the security sum', 'each additional entity in the ownership structure', 'change of surveyor', 'change of bank account', 'enhanced due diligence' - these vary from £150 to £3,250 each.
The Security for Expenses Scheme does not allow for any hidden costs. The only possible extra cost is very clearly signposted - the dispute fee that you can read about here.
Security for Expenses Ltd provide on their website:
"We are usually able to set up the holding facility within three working days of receiving all the required information."
The Security for Expenses Scheme can generally open an account within a matter of hours.
Security for Expenses Ltd provide on their website:
"All interest accruing on Security Sums held in the Company’s segregated client accounts will be retained by the Company. Any negative interest applied to the Security Sum by the bank holding the funds will be deducted from the Security Sum."
The Security for Expenses Scheme does not pay interest, but does not charge any fees.
Security for Expenses Ltd's terms are available at their website.
The Security for Expenses Scheme operates clear, transparent Scheme Rules - there are only 6 and they are very short.