I wish for First Union to undertake a whole of market mortgage review and advise me on a most suitable product available from across the market – broker fees may apply.

Terms of Business Agreement

Terms of Business Agreement The Financial Conduct Authority (FCA) is the independent watchdog that regulates financial services. You need to read this important document. It explains the service you are being offered and how you will pay for it.

First Union is a trading name of Windom Finance Ltd, which is an Appointed Representative of Richdale Brokers and Financial Services Ltd who are authorised and regulated by the FCA. Our Firm Reference Number is 912734. Our permitted business is advising and arranging regulated mortgage contracts, including consumer buy to let mortgage contracts and non-investment insurance contracts. You can check our authorisation and permitted activities on the financial services register by visiting register.fca.org.uk or by contacting the FCA on 0300 500 0597.

Buy to Let mortgages, where the borrower is acting by way of business, are not regulated by the FCA and therefore the provision of our service does not hold the additional level of consumer protection, provided for owner occupier mortgages.

2. Whose products do we offer?

MORTGAGES
We offer a comprehensive range of mortgages from across the market, but not those that you can only obtain by going directly to the lender. A list of lenders that we work with is available upon request.

Insurance
We offer a range of general Insurance and Pure Protection policies from a limited range of insurers across the market which does not represent the whole of market. A list of insurers we offer products from is available at the end of this document.

3. Which service will we provide you with?

MORTGAGES

NOTE: Alternative Finance Options
If you are looking to increase your borrowing on an existing mortgage then there are a few options available to you, including:

1. Further advance with your existing Lender;

2. Second charge regulated mortgage;

3. Unsecured lending, such as a personal loan or credit card.

We are required to inform you of the alternative options available to you so that you can consider them against your personal circumstances. We will however only provide advice on whether a further advance or second charge regulated mortgage may be more suitable for you. We will not however provide advice on whether unsecured lending is more suitable but can introduce you to a lender if you wish to consider this option.

INSURANCE
We will ask you some questions to help us ascertain your demands and needs, and we will then provide you with sufficient information on what we believe to be ‘a suitable product’, but not necessarily ‘the most suitable product’, for your demands and needs. The information we provide is intended to help you make an informed decision about how to proceed. Ultimately, you will need to make your own decision about how to proceed, and it is your responsibility to ensure that any product that you take out is suitable for your insurance requirements. In all cases, we will arrange the product on your behalf.

4. Disclosure of information

INSURANCE
It is important that you understand that any information, statements, or answers made by you to us or your Insurer are your responsibility and must be correct, as failure to disclose facts material to the insurance or any inaccuracies in your answers may invalidate your insurance cover. These facts must be disclosed at the earliest opportunity and certainly at each renewal. If you are a retail client you are duty bound to avoid any misrepresentation & if you are a commercial client you are duty bound to make a fair representation of risk, (more information is available upon request). Responsibility for this is solely yours as we cannot be expected to have known facts which have not been disclosed to us. Please keep copies of any documentation sent to you for future reference.

5. What will you have to pay us for our services?

MORTGAGES
Our broker fee is based on the loan amount and the complexity of your individual circumstances. As we offer a bespoke service our charges may vary. Our fees cover the administration of your application as well as the time taken for extensive research and reflects our in-depth knowledge of the market. As an independent whole of market broker, we provide you with a free service up to the point of completion, at which point our broker fee becomes due. Full details of how our broker fee is calculated are available on request. Rate Switch products (product transfer with your existing lender) are offered without a broker fee being charged. Where we are arranging a remortgage with no additional capital raising, our fee is fixed at £495.00. Fees for all other mortgage applications range from £995.00 to £2095.00. Fees for Secured Loans are charged at 10% of the loan amount and capped at £2350.00.

Our broker fee is only due on completion of your application and can be added to the loan or paid separately from your own resources.

If the mortgage cannot be completed, then no fee will be charged. We do not provide any refund once you have completed on the mortgage or loan. This does not affect your statutory rights. We will also be paid a commission by the lender.

All fees, monthly payments and any associated charges will be disclosed in full to you before you choose to proceed with an application through First Union.

INSURANCE
We do not charge a fee for this service but will receive a commission, which we will disclose to you, from the Insurance provider.

6. Professional Indemnity Insurance

We conform to the FCA requirements in respect of Professional Indemnity Insurance. This type of insurance is mandatory for mortgage and insurance intermediaries.

7. Cancelation Rights

MORTGAGES
We do not provide any refund should you decide not to proceed once you have completed on the mortgage or loan. You may however have the right to withdraw from your mortgage or loan as specified within your mortgage or loan offer, as provided by the lender. This does not affect your statutory rights.

INSURANCE
If you wish to cancel your policy please contact us in writing at Cancelations Department, First Union, Alban House, Garnell Business Park, Brownfields, Welwyn Garden City, Hertfordshire AL7 1AY or by phone on 01707 397722. We reserve the right to charge a fee of £20 upon cancellation of a policy unless the cancellation is within 14 days of inception or renewal of the policy. Please note that where applicable, we operate on an auto renewal basis, in that all policies will be automatically renewed at renewal date, unless otherwise specified or unless you have informed us of your intention to lapse the policy. Your statutory rights are not affected.

8. Data Protection

First Union are registered with the Information Commissioners Office and comply with the relevant Data Protection legislation. The information you have provided is subject to the Data Protection Policy and Privacy Notice of the firm, which is available upon request. You may request confirmation of the information we hold about you, to which we will respond within 30 days. You consent to us or any company associated with us for processing your personal data in accordance with the Data Protection Policy and Privacy Notice of the firm.

If you provide First Union with Personal Data of a third party, you must only do so if you are authorised to release such Personal Data by the data subject. You hereby authorise First Union to provide your Personal Data to any relevant providers for whom First Union wish to make an application to on your behalf. The information you provide is subject to the Privacy Notice of the firm, which is available upon request. You may request confirmation of the information we hold about you, to which we will respond within 30 days. You consent to us or any company associated with us, processing your personal data in accordance with the Privacy Notice of the firm. If you wish to obtain a copy of the firm’s Privacy Notice, please be in contact with First Union in writing at First Union, Alban House, Garnell Business Park, Brownfields, Welwyn Garden City, Hertfordshire AL7 1AY or by phone on 01707 887799.

We may undertake checks via credit reference and fraud prevention agencies to manage your account with us. Please note that these checks should not affect your credit rating. Product Providers may also undertake checks via credit reference and fraud prevention agencies to obtain information with regards to your credit profile. This may affect your credit rating.

We may communicate with you via various methods including email. Although all of our emails are all scanned for viruses, it is recommended that any attachment(s) be scanned by yourselves as we cannot be held liable for any loss or damage caused by software viruses. If you chose to communicate with us via email, please be aware that email communications without the use of encryption, may not be the safest method of communication. If you wish to guarantee the safety and confidentiality of any information you send to us via email, encryption methods should be used.

9. What to do if you have a complaint

If you wish to register a complaint, please contact us in writing to: Complaints Department, First Union, Alban House, Garnell Business Park, Brownfields, Welwyn Garden City, Hertfordshire AL7 1AY or by phone on 01707 397722. If you wish to obtain a copy of the firm’s Complaint Handling Procedure, please be in contact with First Union.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service www.financial-ombudsman.org.uk

10. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

MORTGAGES:
Mortgage advising and arranging is covered up to a maximum of £85,000.

INSURANCE:
Advising and arranging of optional insurance policies is covered for 90% of the claim, without any limitation. Compulsory insurance policies are covered 100%.

Further information about the compensation scheme arrangements is available from the FSCS.

11. List of General Insurance Providers

This table is designed to provide you with an exclusive list of the insurers and brokers we work with when arranging a policy on your behalf.

Policy type

First Union is a Trading name of Windom Finance Ltd, which is an Appointed Representative of Richdale Brokers and Financial Services Ltd, who are authorised and regulated by the Financial Conduct Authority to advise on and arrange regulated mortgage contracts.

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