Lifetime Mortgage Initial Disclosure Document
You should use the information provided within this document to decide if our services are right for you.
Whose equity release products do we offer?
We sell lifetime mortgages only and not home reversion plans, though we will consider all lifetime mortgages available in the market, but not deals that you can only obtain by going direct to a mortgage lender.
Which service(s) do we offer?
We offer an ‘advised’ sales service.
This means we will provide advice and make a recommendation for you after we have assessed your specific needs and circumstances.
Capturing your needs
We are committed to providing you with a service that meets with your individual needs. To enable us to achieve this objective it is important that you are open and frank with us and provide us with all the necessary information that we will need to deliver a service that reflects your needs e.g. any existing mortgages or other loans you may have. This will enable us to identify products that best meet with your personal circumstances. It will also help us to identify any specific needs regarding the methods by which we deliver our services to you. For example, if you need information in large font or braille due to sight difficulties, we can provide you with that.
In addition if you request for this information to be communicated in a language other than English we will provide a translated version.
Further information on how we collect and use your personal data is set out in the separate Data Privacy Notice that we have issued to you.
What you will have to pay us for this service?
Advised sales
A flat fee of £695 will become payable only if the lifetime mortgage completes.
The exact amount of commission we will receive is not known to us at this stage. You will receive an illustration when considering a particular lifetime mortgage, which will tell you about any commission relating to it.
We will tell you how much the total fee will be before you apply for a lifetime mortgage, but you may ask for this information earlier.
Who regulates us?
We are authorised and regulated by the Financial Conduct Authority (FCA). Our Financial Services Register number is 144667.
Our permitted business is: arranging, making arrangements (bringing about) and making arrangements with a view to regulated mortgage contracts.
You can check this on the Financial Services Register by visiting the FCA’s website https://www.fca.org.uk/register or by contacting the FCA on 0800 111 6768 (Freephone) from 8am and 6pm, Monday to Friday (except public holidays) and 9am to 1pm, Saturdays.
What to do if you have a complaint
If you wish to register a complaint, please contact us:
…..in writing Kieron Bassett
30-32 Victoria Street, Morecambe, Lancashire, LA4 4AJ
info@kieronbassett.com
…..by phone 01524832057
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if either we or the providers with whom we arrange products were to go out of business. This depends on the type of product and the circumstances of the claim.
Equity release advising and arranging is covered up to a maximum limit of £85,000.
Further information about compensation scheme arrangements is available from the FSCS
Or by contacting:
Financial Services Compensation Scheme PO Box 300 Mitcheldean GL17 1DY
Telephone number 0800 678 1100
International customers Telephone number +44 207 741 4100
If you are at all unsure about whether equity release is right for you, you should ask your adviser to make a recommendation.