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Private Wealth Mortgages LTD Terms of Business

Trading office:
Suite 3, Hillreed House
54 Queen Street
Horsham, West Sussex
RH13 5AD

Telephone number: 01403 27 00 06 

Whose mortgage products do we offer?

At Private Wealth, we take pride in providing an exceptional service for our clients and you will benefit from years of experience within the mortgage industry. We use an extensive sourcing facility to ensure you are given advice from the whole of the mortgage market.

We are not limited in the range of mortgages we will consider for you.

Which service(s) will we provide you with?

We offer an ‘advised’ service.  This means we will provide advice and make a recommendation for you after we have assessed your specific needs and circumstances. Our client support team will do all they can to ensure your mortgage is guided to a successful completion and we will liaise with solicitors and agents on your behalf.

Insurance

Reviewing your current protection needs and advising accordingly is part of our service. We do not charge a separate fee. If any insurance contracts are arranged we will be paid commission from the insurance company when the contract starts.

We offer products from a range of insurers for all non-investment insurance products, including building & contents, mortgage payment protection and life assurance.

We will advise and make a recommendation for you after we have assessed your needs for all non-investment insurance products.

Specialist Services

We can refer to you other professional organisations, if required, such as conveyancing, will writing specialists, tax specialists, independent financial advisers and accountants.

Our Service - Fees

Our initial consultation service is at the expense of Private Wealth Mortgages Ltd. If you wish to proceed with our recommendation, your adviser will then indicate the level of fee that will be charged. This fee is calculated based on your individual circumstances and the service provided by ourselves.

Our usual fee for a new mortgage transaction is £399

The fee is split into two parts:

  1. Engagement/Application Fee:  If after your initial consultation with your adviser, you wish to use our services, a fee of £250 is payable.  This is paid when the mortgage application is submitted.
  2. Completion Fee:  the balance of any fees due after the initial engagement/application fee, is payable on completion of the mortgage. This will usually be no more than £149

When and how our fees are paid

The Engagement/application Fee of £250 is due at the point you instruct us to carry out work on your behalf. This is collected electronically or if you prefer by bank transfer.

We will also receive a fee paid by the lender, upon completion of the mortgage along with our completion fee.

As a general guide, fees are charged for the following:

  • In relation to a purchase or remortgage of a residential or buy to let property
  • Further advances
  • Transfer of Equity on an existing mortgage
  • General mortgage administration

If more than one mortgage is arranged for a client at one time, a discounted fee will apply.
Fees are not normally charged if we are providing advice on products that are available with your present lender.

Any fees payable will be discussed and agreed by you prior to any transaction

Re-mortgage service

 

Administration Service

We often find that our clients need advice and/or assistance with administration or other matters relating to their mortgage or finances.  We offer an additional service to meet these needs and often there may not be any charge at all. If we do charge a fee our minimum amount is typically £50.

Data Protection Statement

The information you have provided is subject to the Data Protection Act 1998. You consent to us or any company associated with us, processing, both manually and by electronic means, your personal data for the purposes of providing advice, administration and management.

“Processing” includes obtaining, recording or holding information or data, transferring it to other companies associated with us, product providers, the FCA or any other statutory, governmental or regulatory body for legitimate purposes including, where relevant, to solicitors and/or other debt collection agencies for debt collection purposes and carrying out operations on the information or data.

We may also contact you with details of any other similar products, promotions, or for related marketing purposes in which we think you may be interested.  We will not pass your details to a third party for marketing purposes.

You may be assured that we and any company associated with us will treat all personal data and sensitive personal data as confidential and will not process it other than for a legitimate purposes. Steps will be taken to ensure that the information is accurate, kept up to date and not kept for longer than is necessary. Measures will also be taken to safeguard against unauthorised or unlawful processing and accidental loss or destruction or damage to the data.

Under the Data Protection Act you have a right, on payment of a fee, currently £10, to obtain a copy of the personal information that we hold about you.  If you believe that any information held is incorrect or incomplete, you should contact our Data Protection Officer at our usual address. Any information that is found to be incorrect or incomplete will be amended promptly.

Who regulates us?

We are authorised and regulated by the Financial Conduct Authority (FCA).  Our Financial Services Register number is 445980.

Our permitted business is advising on and arranging non-investment insurance contracts and mortgages.

You can check this on the Financial Services Register by visiting the FCA’s website or by contacting the FCA on 0800 111 6768 (freephone) from 8am and 6pm, Monday to Friday (except public holidays) and 9am to 1pm, Saturdays.

What to do if you have a complaint

We endeavor to provide all our clients with an efficient & professional service. However, if at any time during or after the transaction you become dissatisfied please contact us:

Write to the:

Complaints Officer
Private Wealth Mortgages Limited
Suite 3, Hillreed House
54 Queen Street
Horsham
West Sussex
RH13 5AD.

Call us: Telephone 01403 27 00 06

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

Full details please go to the Financial Ombudsman Service website

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 will depend on the type of business and the circumstances of the claim.

Insurance

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

Mortgages

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