Mortgages
Life Insurance
Critical Illness Cover
Income Protection
General Insurance
Recommended Sites
Glossary
Secured Loan Site
 
 Home     Profile    Initial Disclosure Document    Contact Details    Job Opportunities

Initial Disclosure Document

- about our services
   
1. About this document
The Financial Services Authority (the ‘FSA’) is the independent statutory watchdog that regulates financial services including mortgages. They require us to give this document to you to explain our mortgage services and fees. Please use this information to decide if our services are right for you.
 
2. Whose mortgages do we offer?
We offer mortgages from the whole market.
X We only offer mortgages from a limited number of lenders.
X We only offer a limited range of mortgages from one lender.
   
3. Which service will we provide you with?
We will advise and make a recommendation for you after we have assessed your needs.
X You will not receive advice or recommendation from us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
   
4. What will you have to pay us for this service?
X Nothing - as we will receive a procuration fee (in the range of 0.2% to 2.0%) from the mortgage lender.
A fee of the of up to 0.5% of the loan amount or £299, payable on completion whichever is the greater.
X A fee of £100.00 payable at outset and a fee of £100.00 payable on completion. We will also be paid a procuration fee from the lender.

For example (as an illustration only) –

If your mortgage was £100,000 there will be a total charge of £500 that is equivalent to 0.5% of the loan. Or if your mortgage was £40,000 there will be a total charge of £500 that is equivalent to 1.25% of the loan.

You will receive a key facts illustration when considering a particular mortgage that will tell you about any fees relating to it.

   
5. Refund of fees
If we charge you a fee, and your mortgage does not go ahead, you will receive:
X A full refund if the lender rejects your mortgage application
X A refund of £150 if the purchase falls through
No refund if you decide not to take out a mortgage
   
6. Who Regulates us?

Company_Name is an appointed representative of Professional Mortgage Network ltd which is authorised and regulated by the Financial Services Authority under reference number 300517. Our permitted business includes advising on and arranging mortgages.

You can check this status on the FSA’s website www.fsa.gov.uk/register/ or by phone on 0845 606 1234

 
7. What to do if you have a complaint

You are intitled to make a complaint, in the first instance please write to: The Compliance Officer, Chestnut House, 13-15 Stamford Street , Glenfield, Leicester, LE3 8DL. Otherwise use our telephone number 0870 013 2372.

If we cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service

 
8. Are we covered by the Financial Services Compensation Scheme (FSCS)

We are covered by the FSCS and if appropriate you may be entitled to compensation from the scheme if we cannot meet our obligations. This will depend on the type of business and the circumstances of the claim.

Under advising upon and arranging Mortgages, 100% of the first £30,000 of an award is covered and 90% of the next £20,000. So the maximum compensation eligible under the scheme is £48,000.

Further information about the compensation scheme arrangements is available from the Financial Services Compensation Scheme.

  © COMPANY_NAME. COMPANY_NAME is an appointed representative of ABC_Company
which is authorised and regulated by the Financial Services Authority