How we operate - terms & conditions

How we operate - terms & conditions

Upon first contact, we are required to make you aware of how we operate and provide you with some “Key Facts” about the services we offer. If these declarations are made over the phone, we are required to confirm these details to you by sending the “Initial Disclosures Document” within five working business days.

The FSA is the independent watchdog that regulates us and they require us to give you this information. It is designed to provide you with information to decide if our services are right for you.

We will also state the “scope” of service we are willing to provide, that is to say from where we source the appropriate products.

We will confirm which level of service we are willing to provide. Ouconsultants provide advice.

How we are paid is also stated, and normally this involves receiving introduction fees from the eventual lender chosen. There may also be occasions where a Mortgage Force may wish to charge you a fee. This could be up to a maximum of 1.75% of the amount of the loan which is normally payable upon legal completion of your new loan. The consultant will not carry out any chargeable work unless they have agreed this fee with you and obtained your signed permission to charge a fee. The precise amount, if any, may well depend upon your circumstances but where a charge is to be made, past fees charged typically amount to approximately £715.00. You will receive a Key Facts Illustration, which will tell you about any fees charged by a Mortgage Force consultant relating to a particular mortgage.

If any fees are charged, Mortgage Force are required to tell you if some, part or the entire fee is refundable if your mortgage does not proceed. Each consultant will inform you of their refund policies if a fee is charged, and again confirm this in writing for you. Where fees are charged, it is normal for fees to be collected on legal completion, however where this is not the case the consultant will state in what circumstances the fee will be refunded, and the amount to be refunded.

A Mortgage Force consultant is authorised and regulated by the Financial Services Authority. Each consulant will provide their authorisation numbers to you, however if you want this number, please contact Mortgage Force Ltd, who will provide the number for you.

The permitted business we are allowed to operate is stated on our “Initial Disclosures Document”. The details of authorisation can be checked by visiting the register on the FSA’s website: FSA Register or by contacting the FSA by telephone on 0845-606-1234.

Should you be unfortunate and have a complaint please contact person stated on the “Initial Disclosures Document”, or alternatively please contact Mortgage Force Ltd who can provide these details.

If you cannot settle your complaint with the appropriate firm, you may be entitled to refer it to the Financial Services Ombudsman Service.

Mortgage Force Ltd consultants are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation if that firm cannot meet their obligations. This depends on the type of business and the circumstances of the claim.

We have provided this information so that you can see how we operate. From the information provided you know what to expect from each consultant, so be sure to ask for details as to how they operate. They are required to provide this information to you either verbally in the first instance, and/or confirm these details in an “Initial Disclosure Document”.