Terms of Business

Your mortgage should be at least £80,000, for us to offer mortgage advice

1st Mortgage Brokers is a trading name of Mortgages Direct

We are regulated by the Financial Services Authority (FSA). Our registration number is 303319.

The FSA sets minimum standards of good lending and advisory practice to be followed by all lenders and mortgage intermediaries.

Mortgages Direct are committed to the principles of “treating customers fairly”. This initiative, introduced by the FSA, aims to improve the quality of information provided to clients at all stages of the mortgage application process.

We are free to deal with the whole of the mortgage market and will review the market place to identify the most suitable mortgage product for you. Some products may not be available through us if a lender chooses to restrict the availability of a particular product.

We can offer two levels of service, these are: 

Full advice and recommendation
Information on different types of mortgage products available to allow you to make a choice

We will provide you with information relevant to your mortgage needs, covering such items as an explanation of the main repayment methods and the implications of taking out a mortgage.

We will be completing a detailed mortgage / financial review questionnaire to enable appropriate advice to be given on your mortgage and other related insurance products. Once we have made our recommendations to you, we will confirm our advice in writing. You should keep this as it will be an important record of our discussions. Details of the loan will also be confirmed in your lender's formal offer. 

At an early stage in our introduction we will provide you with an Initial Disclosure Document (IDD). This document provides you with some key information about us.

Before making a mortgage application you will be presented with a Key Facts Illustration (KFI). This document presents you with key information about a mortgage product. The information is presented in a standard format to enable you to compare schemes.

Please be aware that ‘buy to let’ mortgages and other ‘business’ mortgages are not regulated by the FSA. You will not have the same degree of protection for these products.
 
We do not charge you a fee for arranging your mortgage. 

Our firm may receive fees from lenders with whom we place mortgages. We do not receive a fee if your mortgage application fails.

Our firm may also receive a fee from insurance companies, if you take out insurance through us.

Our aim is to provide you with a first class professional and confidential service - should a complaint arise, in the first instance you should contact me at the above address.

We provide illustrations from computer software provided by third party organisations. Occasionally, errors and omissions will occur. The actual terms and conditions of your mortgage will be shown on the lender's mortgage offer document.

Where a lender's fee (for example valuation fee) is requested with your application, please be aware that the fee may not be refundable should your application not proceed to completion.

We can never guarantee that a mortgage application will be successful. You should not enter into any contractual arrangements or agreements until you have received your mortgage offer.

We will treat all your personal information as private and confidential (even when you are no longer a customer) except where we are permitted by law or where the disclosure is made at your request or with your consent in relation to arranging your mortgage.

As part of FSA's duties we may be asked to provide them with access to our customer records in order that they may carry out an audit of our activities.

The FSA's ability to inspect customer records promotes best practice in our industry and ensures that you continue to receive the best possible service from us. If we disclose your personal information to the FSA then they will only use it for the purpose of compliance and not for any other reason.

1st Mortgage Brokers is part of Mortgages Direct

2 The Crescent, Goodworth Clatford, Hampshire SP11 7RQ, telephone 08456 448823