Information
about our Mortgage and Insurance services
Mortgages,
Lifetime Mortgages & Protection Planning
The Financial Conduct Authority
The Mortgage Market Uk
Ltd is authorised and regulated by the Financial Conduct Authority
(FCA). The FCA regulates financial services in the UK and you can check our
authorisation and permitted activities on the Financial Services Register by
visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or
by contacting the FCA on 0800 111 6768. Our Financial Services Register number
is 461650
This agreement is made between the Mortgage Market UK Ltd and
clients solely introduced by The Mortgage Hive Ltd
Our Services
Mortgages
Our mortgage services are limited to advising on first charge
mortgages and lifetime mortgage products only. We will consider all lenders we
have access to before recommending a suitable mortgage product following an
assessment of your personal needs and circumstances. This will include a detailed
assessment of affordability.
Certain lenders may offer products directly to the public,
rather than via an intermediary firm, with more favourable terms. Accordingly,
our recommendation to you will be based on the most suitable mortgage product
incorporated within the range available to intermediary firms.
If there is a particular mortgage
product that you are aware of which is available directly from a lender that
you wish us to review and comment on, we are happy to do so. We may charge you
a fee for providing advice in relation to this but would agree this with you at
the time.
Where you are increasing your borrowing or consolidating
existing loans you may have the option of;
•
• taking out a further advance with your
existing lender
•
•
arranging a separate second charge mortgage
•
•
borrowing through an unsecured loan.
There may well be alternative options available to you that
may be more appropriate. For example, you may be able to obtain a further
advance from your existing lender or obtain an unsecured loan for the
additional funds. Where your existing mortgage is a first charge against the
property, a second charge mortgage may be available.
Lifetime
Mortgages
We will consider all lifetime mortgages
products across the market that we have access to. We can provide you with a
list of the providers we consider on request.
We will not consider those providers that
are only available by you going direct to them.
We will only recommend you take out a
lifetime mortgage after an assessment of your personal needs and circumstances.
Protection Planning -
Insurances
Non-investment
protection contracts - we offer
non-investment protection from a range of insurers. We will provide you
with advice and arrange products such as term assurance, income protection and
critical illness on your behalf after an assessment of your personal needs and
circumstances
You can pay for our advised protection
services by: Commission.
Where we are paid by commission we will tell
you the amount before we carry out any business for you.
In respect of any regular premium policy
which we have arranged for you, should you subsequently cease to pay premiums
on the policy and in consequence we are obliged to refund the commission that
has been paid to us, we reserve the right to charge you a fee representing the
amount we have to repay, for a period of up to four
years after commencement of the policy. We will confirm the exact amount that
will need to be repaid by you and the timescale over which it will need to be
repaid in the suitability report we will send you when a recommendation is
made. We will not charge any such fee if you exercise your right to cancel in
accordance with any cancellation notice sent to you by the life insurance
company.
The Costs of our
Service
We do not charge you a fee, we will receive
and retain a commission from the lender when your mortgage completes. This
amount will be confirmed by the lender in their disclosure document.
Should you wish you can request to view the
commission rates from each of the lenders we have considered at the time that
we make our recommendation to you.
We may also receive a marketing allowance
from third parties or be required to pay a commission to third parties that
have introduced business to us.
Non-Investment
Protection and General Insurance Contracts
We do not charge a fee as we will receive
commission from the provider after the policy has been placed on risk
Our
Ethical Policy
We are committed to providing the highest
standard of advice and service possible. The interest of our customers is
paramount to us and to achieve this we have designed our systems and procedures
to place you at the heart of our business. In doing so, we will:
•
• be open, honest and transparent in the way we deal with
you;
•
• not place our interests above yours;
•
• communicate clearly, promptly and without jargon;
•
• seek your views and
perception of our dealings with you to ensure it meets your expectations or to
identify any improvements required.
Cancellation rights
Certain protection and insurance contracts
allow you the right to cancel after a contract has been put in force. Prior to
you entering into a contract of protection or insurance we will provide you
with specific details should this apply to include: its duration; conditions,
practical instructions and any costs for exercising it, together with the
consequences of not exercising it.
Instructions
We prefer our clients to give us
instructions in writing, to aid clarification and avoid future
misunderstandings. We will, however, accept oral instructions provided they are
confirmed in writing.
Complaints
If you wish to register a complaint, please
write to The Mortgage Market UK Ltd, 117 Victoria Rd, Ferndown, Dorset BH22 9HU
or telephone 01202 850390.
A summary of our internal complaints
handling procedures for the reasonable and prompt handling of complaints is
available on request and if you cannot settle your complaint with us, you may
be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk
or by contacting them on 0800 023 4 567.
Compensation Scheme
If you make a complaint and we are unable to
meet our liabilities, you may be entitled to compensation from the Financial
Services Compensation Scheme.
Further information about the limits
applicable to the different product types is available from the FSCS at http://www.fscs.org.uk/what-we-cover/products
Client Verification
We may be required to verify the identity of
our clients, to obtain information as to the purpose and nature of the business
which we conduct on their behalf, and to ensure that the information we hold is
up-to-date. For this purpose we may use electronic
identity verification systems and we may conduct these checks from time to time
throughout our relationship, not just at the beginning.
Law
This agreement is governed and shall be
construed in accordance with the Law of England and the parties shall
submit to the exclusive jurisdiction of the English Courts.
Force Majeure
The Mortgage Market UK shall not be in
breach of this Agreement and shall not incur any liability to you if there is
any failure to perform its duties due to any circumstances reasonably beyond
its control.
Termination
The
authority to act on your behalf may be terminated at any time without penalty
by either party giving 7 days notice in writing to
that effect to the other, but without prejudice to the completion of
transactions already initiated. Any transactions effected before termination
and a due proportion of any period charges for services shall be settled to
that date.
