Our commitment is to treat all our customers fairly!
Treating customers fairly is central to the ethos and culture of Heswall Mortgage Services. We treat our customers fairly because we want our customers to feel happy about the service we have provided for them. We recognize that the impression we make on our customers is vital to the growth of our business. Because we do not charge any fees, we rely on our customers being so pleased with the service which they have received, that they are happy to recommend us to their family, friends and colleagues.
Our Core Principles:-
Introduction
1. We will explain about our service and any cost related to the service, confirming this through the issue of our Initial Disclosure Document, for you to retain.
2. We will be clear about which areas we do and do not cover, so that you can understand where our expertise is.
3. We will offer an in-home service, or an appointment at our office, or we will offer to arrange your mortgage by telephone, internet and/or post as appropriate.
4. We will provide all necessary documentation, support and explanations throughout the whole process.
5. We will always return your telephone calls.
Assessment of your needs
We will listen carefully to your financial circumstances, needs and preferences and will be happy to guide you in the areas which we cover to enhance your understanding. Before we make any recommendation to you, we will check with you that we have clearly understood what you have told us.
If you have chosen not to pay us any fees, we will not charge you for assessing your needs, offering any advice or arranging your mortgage. If you have opted to pay us a fee, which would be 0.75% of the loan amount (i.e. £750 for a £100,000 mortgage) we will explain when and how this fee will be payable and in what circumstances you will not be charged.
Your Agreement
If you want us to proceed to consider your needs and make a recommendation to you we will provide you with information about the mortgage which we are recommending, selected from the mortgage market as a whole.
Considering your needs
In considering your needs we will take account of:
- Your income as well as your ability to meet the mortgage payment
- Your expenditure and any monthly commitments on loans, debts, maintenance payments, credit cards, store cards etc. you have and your ability to meet the payments.
- Any forseeable changes to either your income or expenditure
- Your attitude to risk in terms of the method of repaying your mortgage
- Your preferences regarding the stability of monthly repayments or the acceptance of variable rates
- Your desire to consolidate any debts, in which case we will explain the short term benefits against the long term increased costs.
- Your preferred term of repayment of your mortgage and how this might impact on your ability to maintain your mortgage repayments.
- We will consider your future ability to meet any increase to the mortgage payment which may occur, and whether you intend to move home or sell your property for instance during any special fixed or discounted period
If we are able to recommend a suitable mortgage product, we will provide you with a Key Facts Illustration explaining our recommendation. We will take time to explain this document to make sure you fully understand the commitment you would be undertaking if you applied for this mortgage.
We will advise you about any protection needs you may have in safeguarding your mortgage, in the event of death, critical illness, home insurance, loss of income through unemployment, illness etc.
If you agree with our recommendation, we will seek your permission to apply for a Decision in Principle from the lender. This will involve a credit search by the lender or other parties through our online systems which could register on your credit file
If, for any reason your 'application in principle' is declined following a credit search then we will tell you about this. We will not have access to the details of your credit file but we will tell you how you can obtain this information on request. We will continue to offer to help you with your mortgage needs in this situation
We will not ask you to make any decisions about your mortgage or protection needs without giving you time to consider any recommendation we have made.
Our Service
If you ask us to arrange a mortgage then, depending on your location, we may arrange this in your home, at our office, or if you prefer, we can arrange this by Internet, or post as appropriate to your preferences.
Within 5 days of completing a mortgage application through Heswall Mortgage Services, we will forward to you a letter explaining why we believe the mortgage we have recommended is the most suitable for your needs
We will ask you to provide details of your current mortgage (if applicable), your employment and income your identity and any other matters relevant to the particular lender.
The normal documentation requirements for each applicant are as follows:-
• Passport or Driving Licence
• A Utility Bill (not mobile phone) dated within the last 3 months
• Last 3 months payslips
• Last 3 months bank statements
• Latest mortgage statement (if applicable)
The top 2 items are required in relation to our duty under Money Laundering requirements
If you do not have a solicitor we are able to arrange one for you. In this event we may receive a referral fee from the Solicitor
After Sales Service
We will keep you informed on the progress of your mortgage application through the various stages and will advise you of any delays or problems which we become aware of, as soon as practicable. These stages can be summarized as follows:-
• Submitted to Lender
• Acknowledged by Lender as complete or they may request additional documentation or clarification of some aspect/s of the application.
• Valuation of the property is instructed by the Lender
• Offer issued – copied to Solicitor and Heswall Mortgage Services
• Solicitor undertakes legal work (known as Conveyancing)
• Solicitor agrees “Exchange of Contracts” date with clients and vendors (See below)
• Buildings Insurance and Life Policies as appropriate arranged.
• Exchange of Contracts (n/a for Remortgage) This is the point at which you are legally obliged to buy the property, at the price you have agreed.
• Completion - the day when you finally get the keys!
When we receive a copy of your mortgage offer we will check and confirm with you, that it matches the Key Facts Illustration we discussed and that it is still suitable to fulfill your needs
We will continue to liase with you, the Lender and the Solicitor until the mortgage has completed satisfactorily.
Following completion, we will send to you a questionnaire asking for feedback about the service you have experienced from Heswall Mortgage Services, so we can assess how we compare with the promises we are making. We would encourage you to be completely honest in your assessment.
In order to continue to provide you with our service, we need your permission to do so. Within the questionnaire will be a space for you to either confirm that you are happy to give this permission or alternatively ask us not to contact you in the future.
Our serviced does not end when your mortgage completes. We are always available to offer friendly advice or help in any areas in which we operate, and of course to offer you ongoing help and advice in connection with your mortgage.
If you have a Complaint
If you make a verbal or written complaint about our service or about the mortgage we arranged for you then we will write to acknowledge receipt of your complaint within 7 working days.
We may ask you to write to us to explain the issues of your complaint before we investigate it fully.
We will try to reach agreement with you in order to settle your complaint and will write to you again within 28 days with our final decision and if we are unable to settle your complaint then we will help you with information about how to refer your complaint further to
The Financial Ombudsman Service,
South Quay Plaza,
183 Marsh Wall,
London.
Tel: 0845 0801800
E-mail enquiries@financial-ombudsman.org.uk
Website: www.financial-ombudsman.org.uk