Terms of Business

Our aim as whole of market 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.

WESTEXE MORTGAGE SOLUTIONS LTD. is Authorised & Regulated by the Financial Conduct Authority, registration number 499032. Details of which can be found by visiting http://www.fca.org.uk/

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.

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.

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

During our initial meeting 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 a Key Facts Illustration or 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 Mortgage Solutions 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.

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.

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

Charges

If the company receives commission from companies with whom insurance  including life assurance are arranged and from mortgage company’s. We retain that commission. A one off broker fee of £600 is payable upon Westexe Mortgage Solutions acquiring a mortgage offer for the applicant/s. The payment of this fee is normally made on completion and only applies to the property upon which the mortgage is arranged, no VAT is payable. The company reserves the right to negotiate a fee of up to 1% of the mortgage for very difficult and complex applications, this would be discussed and agreed before the application commences. ALL consultations are completely free without any obligation.

Advice

Any advice to be given by us, or instructions shall be in writing and any instructions to be given by you are also to be in writing. If any advice, request for instruction or instructions are given orally, then they must be confirmed in writing, to avoid possible disputes. We may refuse at our discretion to accept certain instructions, although such discretion will not be exercised unreasonably.

Records

We keep all records of all your transactions for up to six years. You and your appointed agents, have the right to inspect the records at a mutually convenient time. As we treat all our clients’ records as confidential, we reserve the right to give you copies of your records, where, in certain circumstances to release the originals would compromise other clients’ confidentiality.

Professional Indemnity Insurance

We confirm that we maintain adequate Professional Indemnity Insurance for your protection in the event of our negligence. Details of this insurance, including the current limits of indemnity, are available on request.

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 advising and arranging is covered for 90% of the claim, without an upper limit.

Mortgage advising and arranging is covered up to a maximum limit of £50,000.

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

Third Party Rights

These Terms of Business exclude any rights, which may be conferred upon third parties by the Contracts Third Party Rights Act 1998.

Termination

You, or we, may terminate our authority to act on your behalf at any time, without penalty. Notice of this termination must be given in writing.

WESTEXE MORTGAGE SOLUTIONS LTD DOES NOT HANDLE CLIENTS’ MONEY. WE NEVER ACCEPT A CHEQUE MADE OUT TO US UNLESS IT IS A CHEOUE IN SETTLEMENT OF OUR CHARGES OR DISBURSEMENTS FOR WHICH WE HAVE SENT YOU A FEE NOTE.

Data Protection and Direct Marketing

INFORMATION HELD UPON YOU. In order to advise you properly, we must obtain certain information from you about your financial and personal circumstances, to assess your suitability for particular products and services.

By agreeing to these Terms and Conditions of Business:

You agree that the information we hold about you can be held on computer and/or paper files.

You agree that any information, which you give us may be disclosed to third parties (e.g. credit reference agencies and product providers) for the purpose of processing your application.

You agree that we may use the information that we hold about you to contact you from time to time by post, fax, email or telephone to bring to your attention additional products or services, which may be of benefit to you.

We agree that any consent given by you under paragraph 3 above may be withdrawn by you at any time by contacting us in writing at:

Head office and registered address Westexe Mortgage Solutions Ltd 25 Okehampton Street, St Thomas, Exeter Devon, EX4 1DY.

Company registered in England No. 6821202

Westexe Mortgage Solutions Ltd is Authorised and regulated by The Financial Conduct Authority. FRN 499032

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