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The Mortgage Code came effect for intermediaries on 1st may 1998 and is a voluntary code to which our company subscribes. The code sets minimum standards of good lending and advisory practise, which are to be followed by all lenders and mortgage intermediaries explaining what you can expect from us. Our firm is registered with the Mortgage Code compliance Board under registration number 5403630. Buy to let mortgages are not covered under the Mortgage Code however we still adhere to their general principles in our dealings with all of our potential clients. Under the code there are three categories of service levels available. These are:
During our initial meeting we will be completing a detailed mortgage questionnaire in order to assist in tailoring a mortgage to best suit your requirements. We will also provide you with information relevant to your mortgage needs, confirmed in a 'Mortgage Key Features Brochure' covering such items as an explanation of the types of mortgage product available, repayment methods, as well as implications of, and costs involved in, taking out a mortgage. Once we have made our recommendations to you we will confirm our advice in writing as well as providing you with detailed illustration. This information should be kept as an important record of our discussions. You are advised also to seek advice from your solicitor if you are unsure of any terms and conditions contained in the formal mortgage offer letter. We will usually receive fees from lenders, or their agents, with whom we place mortgages. Before you take out a mortgage we will advise the exact amount of this fee in writing. In addition we may charge a brokerage fee, the amount of any fee will be notified to you in advance and will be due for payment only on successful completion of any loan. We reserve the right to charge an administration fee of up to £100 should you decide not to proceed with your chosen option. We will treat all your personal information as private and confidential (even when you are no longer a customer) accept however we are obligated by law or where disclosure is made at your request and/or with your consent in relation to arranging your mortgage. The Mortgage Code Compliance Board (MCCB) regulates the Mortgage Code to which we subscribe. As part of the MCCB's duties we may be required to provide them with access to our customer records held on your files. Our aim is to provide you with a first class, professional and confidential service. However, we have internal procedures for handling complaints fairly and speedily should one arise. In the first instance you should contact Chris Tonkin at this address. This information relates solely to buy to let mortgage business. Our terms of business for items regulated by the Financial Services Authority are provided separately. This Terms of Business sets out how we will deal with you in the provision of advice regarding your protection and assurance needs. This Terms of Business relates solely to protection and assurance products, which are NOT regulated by the Financial Services Authority. Our Service In order to source your protection product, we use a panel made up of 10 life companies. Our Service includes advising you on your protection and assurance needs, arranging your insurance cover and helping you with any ongoing changes you have to make. Your Requirements We will make sure that as far as possible, the products and services we offer you will match your requirements. We will give you enough information and assistance so that you can make an informed decision before you make a final commitment. In order to do this we may need to identify your needs by obtaining from you information regarding your personal and financial circumstances. Your Obligations It is essential that you are aware of your own duty to provide full details of ALL factors which an insurer may wish to consider in relation to any proposal that you make. All answers given on any proposal form and any other statements made by you to us are your responsibility. FAILURE TO DISCLOSE MATERIAL FACTS MAY WELL RENDER THE COVER VOID. Please ask us if you are in any doubt. Fees and Costs We are paid commission direct from the life company on completion of the sale. We will disclose to you the commission we receive upon request. All cheques for premiums or money of any kind must be payable to the life office, in no circumstances must a cheque be made out to us or cash given to us. Authority to Act In order to avoid any possible disputes, we normally require clients to give instructions in writing before we will act for you. We will however, accept all instructions provided they are subsequently confirmed in writing. You, or we, may terminate our authority to act on your behalf at anytime, without penalty, notice of this termination must be given in writing. Complaints If a complaint should arise, please in the first instance contact us at our office address. We will handle your complaint fairly and speedily. Confidentiality and Security We will treat all of your personal information as private and confidential to us even when you are no longer a customer. In order to process your application it may be necessary to disclose your information to third parties who may hold this information indefinitely. We may also be required to disclose this information if we are legally compelled to. We may also obtain advice and guidance from personal advisers such as compliance advisers. On these occasions, you agree that personal information held and in accordance by us may be disclosed on a confidential basis and in accordance with the Data Protection Act 1998 to such third parties. You agree that this information may be transferred electronically e.g e-mail. Under the terms of the Data Protection Act, you have the right to view any personal data we may keep on you. We will take it that you have read and understood the above, if you then proceed to complete any relevant application forms. Chris Tonkin On behalf of Mortgage Matters and ABC Buy to Let |
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