Mortgage Terms of Business

Our aim as independent mortgage advisers, is to provide a quality, client focussed service. We appreciate and understand that your mortgage is likely to be the largest financial commitment you will undertake. Our role is to help you understand how a mortgage works and how control of the repayments is essential for prudent money management.

We will seek to reduce the financial burden and where possible, allow you to redeem your mortgage earlier. In addition, we seek to provide adequate protection for you and your family.

Throughout our association with you we are committed to giving the highest standard of service and customer care. Both before and after your mortgage completes.

The Mortgage Code came into effect for intermediaries on 1st May 1998 and is a voluntary code to which our company subscribes. The Code sets minimum standards of good lending and advisory practice, which are to be followed by all lenders and mortgage intermediaries. A copy of a leaflet summarising the Code and explaining what you can expect from us is provided to every client

WESTEXE, THE MORTCAGE CENTRE is registered with the Mortgage Code Compliance Board and our registration number is 5020465.

We will review the market place to identify the mort suitable mortgage product for you. We constantly review the mortgage market conditions to enable appropriate advice to be given. However, in certain instance where a limited range or a single product only is recommended (e.g. in conjunction with a builder/developer's special scheme) we will explain the reasons for doing so.

Under the terms of the Code there are three level of service available. There are:

a. Full advice and recommendation

b. Information on different types of mortgage products available to allow you to make a choice

c. Information on a single product only, where no advice is given.

We offer a full advice and recommendation service in all cases in order that we can make an informed declaration with you about the choice of your new mortgage.

We will also 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 a mortgage A full list of information can be found in Section 32 of the Mortgage Code.

We will provide an explainable of the main relevant repayment methods available (for example capital and interest or interest only)

We will also provide you with a copy of "Mortgage Information Sheet" which explains briefly some of the possible mortgage concerns. It is important for you to ensure that any questions you may have are answered before you proceed with your mortgage/remortgage

During our initial meeting we will be completing a detailed mortgage/financial review questionnaire to enable appropriate advice to be given an your mortgage and other related insurance products.

Once we have made our recommendations to you, we will confirm our advice in writing/ a written quotation. 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.

WESTEXE, The Mortgage Centre may receive fees from lenders with whom we place mortgages. Where this occurs we will tell you the amount. We always source a mortgage to fit our clients' requirements and not by any fees that the lender may pay us for introducing you to them

We will treat all your personal information as private and confidential even when you are no longer a customer, except where the law requires us not to do so or where disclosure is made at your request or with your consent in relation to arranging your mortgage. For example, when instructing a financial advisor or insurance specialist.

The Mortgage Code Compliance Board (MCCB) regulates the Mortgage Code to which this firm subscribes. As part of the MCCBs duties we maybe asked to provide them with access to our customer records in order that they may carry out an audit of our activities. The MCCBs 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 MCCB, the MCCB has agreed to use it only for the purpose of compliance with the Mortgage code and not for any other reason. If you would not like us to disclose any of your personal information to the MCCB then please inform us in writing within 21 days.

You have the right to inspect any documentation we hold in respect of our dealing with you. We will keep copies of your records only for the duration of the selected product(s) as suitable for your requirement They will be kept confidential and in accordance with the Data Protection Act.

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 our Mortgage Code Compliance Officer at our office address. Your complaint will be acknowledged within 8 days, and we will then ask for the full details concerning your complaint. Having received this we will give you an update to the progress of your complaint. If we nave not resolved the matter to your satisfaction within 30 days of receiving your complaint, we will assist you in resolving it by referring it to the Mortgage Code Arbitration Scheme whose address can be found in the Mortgage Code Booklet

We look forward to being of service to you and thank you for the opportunity to review your current situation. Westexe, the Mortgage Centre remains committed to saving money for our clients and providing a quality service.