When your application is proceeding, we will:
• Assign one of our specialist & experienced mortgage consultants to you, who will manage your application for you.
• Communicate clearly the entire process, including what we require from you, in plain simple English.
• Provide regular updates on the progress of your application via your preferred medium.
• Maintain consistent contact with the lender to ensure that your application is progressed as promptly and efficiently as possible and;
• Ensure that all issues are dealt with by liaising with all parties involved in the application, including the lender, solicitor and estate agent.
The Financial Conduct Authority (FCA) has been regulating residential mortgages since 1st April 2013. General Insurance has been regulated by the FCA from the same date. The FCA does not regulate Buy-to-Let & Commercial mortgages (however, please be aware that a Buy-to-Let mortgage may be regulated under certain conditions. If this applies to your application, we will notify you of this.) Mortgages Made Easy charge a broker fee of £895 which is payable on application. Please note that this fee is non-refundable if you should choose not to proceed with your application. The fee can be added to the mortgage loan, subject to lender agreement. A different set of charges will apply if we are required to recommend a mortgage provided by a lender which specialises in providing funds for clients who have impaired credit, please ask us for further details.
You will be provided with an explanation of the main mortgage repayment methods (e.g. interest only or capital and interest repayment). Please be aware that if you should choose a repayment method which is inclusive of an FCA regulated investment product, we will advise you to seek guidance from an appropriately authorised Independent Financial Adviser (IFA). You can obtain details of an IFA near you by calling 0800 085 3250, or visiting www.unbiased.co.uk.
We conduct continuous and regular reviews of the mortgage market in order to ensure that the lenders that we select are the most appropriate in terms of meeting your individual needs and circumstances. We use mortgage lenders who are consistent in providing our clients with a competitive product range and a high standard of service; however there can be a variation in the standards of service over time. Mortgages Made Easy accepts no liability for any delays caused by the product provider in the processing of your mortgage and/or insurance application, although we will always endeavour to actively assist the smooth processing of your application. Mortgages Made Easy Ltd is able to recommend a select panel of conveyancers with whom we work very closely. Depending on the mortgage product recommended to you, you may be eligible for free or discounted conveyancing services (whether these are appointed by you or by your proposed new mortgage lender); in both of these cases, you will be responsible for checking the appointment of the conveyancer and the progress of any ongoing legal work involved.
To enable us to give appropriate advice on your mortgage and other related insurance products, we will complete a Mortgage & Remortgage questionnaire with you as part of the initial consultation process. When we have made our recommendations to you, our advice will be confirmed to you in writing. This confirmation should be retained as a record of the advice given. The mortgage lender will confirm details of any products applied for on a formal Offer of Advance, and in Acceptance Terms by the insurance provider. You are responsible for ensuring that these documents are correct before you exchange contracts.
If the lender does not asses your income under contractor policy, we will issue you with a full refund of our fee. If there is any other reason which prevents the application from proceeding, the fee is not refundable.
Our fee will not be refunded in the event that we are unable to secure a formal mortgage offer for you due to your non-disclosure of relevant information required by the lender, or as a result of inaccurate information that you have provided.
To avoid possible disputes, we require our clients are required to give instructions in writing. For urgent matters, oral instructions will be accepted on the condition that these are confirmed to us in writing.
You, or we, are able to terminate our authority to act on your behalf at any time without penalty. The notice of this termination must be provided in writing.
Unless confirmed in writing by one of the directors of Mortgages Made Easy Ltd, no variation of this agreement will be valid.
We do not handle cash in settlement of our fees, and we will only accept cheques which are made out to Mortgages Made Easy Ltd.
Documentation will be forwarded to you as soon as practicable after we receive it. If there are a numerous documents which relate to a series of transactions, we will in most cases hold the documents until the series has completed and then forward these to you.
Records of all business transactions will be kept for a minimum of seven years. You (or your agent) are able to inspect contract notes, vouchers and entries in books, whether these are kept manually or electronically. All client records are kept strictly confidential, even when you are no longer a client.
We therefore reserve the right to give you copies of your particular records as opposed to allowing you to access files which contain records about other clients. Under the Data Protection Act 1998, you have rights of access to any personal records we hold about you.
As your mortgage broker, we have a duty to determine the most appropriate product for your individual needs, and we therefore reserve the right to discuss your personal circumstances with any lender in order to fulfil this duty. Upon receipt of your mortgage application, we or the lender may undertake a credit check. In some cases, a credit check will be undertaken before the application is submitted in order to enable preparation of an “Agreement in Principle”. We will always ask your permission before the credit check is undertaken. Please be aware that any credit checks can be registered as part of your credit record, and the lender may also supply information regarding the way that your account is managed to a Credit Reference Agency.
We conduct regular internal auditing procedures, which include monitoring and compliance with Financial Conduct Authority Guidelines.
We maintain Professional Indemnity Insurance.
It is a requirement that we verify your identity in compliance with Anti-Money Laundering regulations. Until such verification has been obtained, no mortgage offer or insurance acceptance terms will be produced.
We like to keep you updated, and will tell you about new services from time to time. We may also send related information from third parties whom we think may be of interest to you, or who offer relevant products and services which may be of interest to you. You can choose to opt out of these communications when you engage with us during the arrangement of your mortgage. You can also change your communication preferences at any time by writing to:
The Data Protection Officer (Compliance Dept)
Mortgages Made Easy Ltd
3 Turnberry House
For the purposes of the Data Protection Act 1998, Mortgages Made Easy Ltd is the Data Controller in relation to any personal data that you supply.
If you send us an email, we retain a record of your contact and email address. We may contact you with details of relevant products and services as well as information about the company, in addition to specific services that you request. If you do not wish to be opted in to marketing communications, please email firstname.lastname@example.org, and you will be promptly removed from our mailing list.
Struggling to get to grips with mortgage related terms? Use our quick-reference guide to help you.