Terms of Business
From November 1st 2004, The Financial Services Authority (FSA) became the regulator for the mortgage industry. The Financial Services Authority (FSA) have a website (www.fsa.gov.uk) specifically for the consumer.
My company, via my principal, Professional Mortgage Partnerships Ltd is regulated by the FSA. Professional Mortgage Partnership Ltd is registered with the Financial Services Authority Registration number 304174. Part of that registration requirement is that we maintain in place Professional Indemnity Insurance that provides additional protection for customers if our firm is found to be negligent.
We undertake to act in a clear and informative manner with you at all times and act only on your behalf. We do not act on behalf of any lender, we do not have any formal links with any lender except for the introduction of mortgages to them. Using the information you provide we will advise you on your mortgage requirements from a panel of lenders that is representative of the whole of market, this panel will provide our customers with a competitive range of products and a high standard of service. We do not have a list of preferred lenders.
Unless indicated otherwise on our Initial Disclosure Document (IDD) we provide a full advice and recommendation service in all cases to ensure that we can make an informed decision with you about the choice of your new mortgage.
We will provide you with information relevant to your mortgage needs, including a full explanation of the main repayment methods and the implications of taking out a mortgage. We will further explain the main mortgage repayment methods (capital and interest or interest only) but if you select a method that requires an investment product to repay the capital borrowed we will be unable to provide advice on that investment product.
During our initial meeting we will collect information from you by completing a detailed mortgage fact find, this information together with our conversation will enable us to give you appropriate advice on your mortgage and other related insurance products. The mortgage we help you to select will be based on your needs and objectives after full consideration of the information you provide and your circumstances, it will also take into account any particular requirements and market conditions at that time.
Once we have made our recommendations to you we will record them and confirm them to you in writing before you complete your mortgage. You should keep such confirmation safely as it provides a record of the transaction. The details will be further confirmed by your chosen lenders formal offer of a loan.
My firm, authorised through Professional Mortgage Partnerships Ltd may charge you a fee for our services and/or receive fees from lenders with whom we place mortgages. Where this occurs we will inform you of the amount and source.
All monies received from the lender to any firm involved in your mortgage transaction will be disclosed in the Key Facts Illustration (KFI) we will provide you with at the appropriate time.
We will treat your personal information as private and confidential (even when you are no longer a customer) except where disclosure is made at your request, compliance with the law of the land or with your consent in relation to arranging your mortgage. We will also explain that you have a right of access under the Data Protection Act 1998, to your personal records whether held manually or electronically.
Professional Mortgage Partnerships Ltd is regulated by the Financial Services Authority (FSA) and we may, from time to time, be required to pass your information to this organisation for compliance checking. This information will be treated as private and confidential and will be used for no other purpose.
Our aim is to provide you with a first class professional and confidential service – should you feel you have cause for complaint then in the first instance you should contact the Group compliance manager at the address below. If the Group compliance manager does not resolve your complaint to your satisfaction, we will assist you in resolving it by referring it to the Financial Ombudsman Service, details of which will be sent to you.
This document relates only to mortgage business. Our terms of business for other regulated items are provided separately.
| Advisor: |
Name Of Firm |
| Company |
Right Answer Finance |
| FSA Reg No: |
441845 |
| Data Protection Reg No: |
Z8962289 |
Address
Kingsdale Suite
Dunedin House
Columbia Drive
Stockton on Tees
TS17 6BJ
|
