1. The Financial Services Authority (FSA):
The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Please use this information to decide if our services are right for you.
2. Whose products do we offer?:
Insurance:
We offer products from a range of insurers for:
·
Life & Critical Illness Cover
·
Personal Income Protection
·
Buildings & Contents
·
Private Medical
·
Dental
We only offer products from CETA Insurance and Paymentshield for:
·
Mortgage Payment Protection
·
Travel
Mortgages:
We offer mortgages from the whole market.
We only offer mortgages from a limited number of lenders.
We can only offer mortgages from a single lender.
3. Which service will we provide you with?:
Insurance:
We will advise and make a recommendation for you after we have assessed your needs for:
·
Life & Critical Illness
·
Personal Income Protection
You will not receive advice or a recommendation from us for Mortgage Payment Protection, Buildings & Contents, Private Medical, Dental, or Travel Insurance. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.
Mortgages:
We will advise and make a recommendation for you after we have assessed your needs.
You will not receive advice or recommendation from us. We may ask some questions to narrow down the selection of products that we will provide detail on. You will then need to make your own choice about how to proceed.
4. What will you have to pay for our services?:
Insurance: Either (the choice is yours) -
·
No fee as we will be paid by commission from the insurance company.
·
An administration fee of £250 paid at the point of application (all commission will be rebated back into the contract).
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.
Mortgages: Either (the choice is yours) -
·
No fee as we will be paid by commission from the lender.
·
A fee which is payable at the point of application for the mortgage which will be calculated depending on the service being provided (any commission payment subsequently received by this firm from a lender will be rebated to you):
o
Residential purchase or re-mortgage – a fee equivalent to 0.35% of the value of the loan (e.g. £100,000 mortgage – fee would be £350).
o
Buy to let purchase or re-mortgage – a fee equivalent to 0.45% of the value of the loan (e.g. £100,000 mortgage – fee would be £450).
o
Adverse credit cases or specialist lending – a fee equivalent to 0.5% of the value of the loan (e.g. £100,000 mortgage – fee would be £500).
You will receive a Key Facts Illustration when considering a particular mortgage which will tell you about any fees relating to it.
5. Refund of Fees:
If we charge you a fee, and your mortgage or life assurance does not go ahead, you will receive:
·
A full refund if the lender or insurance company rejects your application (except when the information provided is inaccurate).
·
A refund of 50% of your mortgage fee if your application falls through.
·
There will be no refund in all other circumstances.
6. Who regulates us?:
Ariston Bell, PO Box 820a, Surbiton, Surrey. KT1 9AH is authorised and regulated by the Financial Services Authority. Our FSA Register Number is 301741.
Our permitted business is to advise on, and to arrange deals in non investment insurance contracts and regulated mortgages.
You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.
7. What to do if you have a complaint:
If you wish to register a complaint, please contact us at the address or telephone number at the top of this document.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
8. 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.
Insurance:
Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.
Mortgages:
Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000.
Further information about the compensation scheme arrangements is available from the FSCS.
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