Regulated Mortgage Services Initial Disclosure Document

Regulated Mortgage Services Initial Disclosure Document

Whose mortgage products do we offer?

We offer products in the following ‘relevant market(s)’:

• Regulated mortgage contracts that are used for a non-business purpose; and/or
• Regulated mortgage contracts that are used for a business purpose.

• We offer a comprehensive range of first and second charge mortgages from across the market, but not deals that you can only obtain by going direct to a lender

Please note that, where you are increasing your mortgage borrowing although we do not (or are unable to) advise on the following finance options these may be available to you and be more appropriate:-

• A further advance from your existing lender (in limited circumstances)
• An unsecured loan

Which service(s) will we provide you with?

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.

Customers switching to a new deal with their current lender

Please note that under the Mortgage Charter, those lenders who have committed to the terms of the Charter will allow customers approaching the end of a fixed rate product to lock into a new a deal ahead of the end of their advantage term.

The Charter also allows customers to manage their new deal and request a better like-for-like deal from the same lender if a better rate becomes available before completion.

Please note that our advice services will not extend to checking the availability of better deals after our initial recommendation has been made (i.e. – after the lenders initial mortgage offer).  It will therefore be your responsibility to check whether the lender has since reduced their interest rates and to request a switch to a better deal if one becomes available prior to completion.

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 of 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 will become payable upon on offer of the loan. Below are our fees:

• Standard Mortgage – £395.00
  • Subsequent mortgages will be charged at £195.00 per mortgage.
• Shared Ownership – £595.00
• Right to Buy – £595.00
• Adverse Credit Mortgage – £695.00

We refer Bridging Loans, Commercial Mortgages and Self-Build Mortgages to a packager, where we will receive commercial for the referral upon completion of the loan.

The exact amount of commission we will receive is not known to us at this stage.  We will confirm the actual amount to you as part of the lending illustration we are required to obtain from the lender.

We will tell you how much the total fee will be in good time before you apply for a mortgage, but you may ask for this information earlier.

You will receive an Illustration / European Standardised Information Sheet (ESIS) when considering a particular mortgage, which will tell you about any fees relating to that mortgage.

Refund of fees

If we charge you a fee and your mortgage does not go ahead, you will receive:

• No refund under any circumstances.

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.

Mortgage advising and arranging is covered up to a maximum limit of £85,000.

Further information about compensation scheme arrangements is available from the FSCS (www.fscs.org.uk).

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