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1. The Financial Services Authority (FSA)

The FSA is the independent watchdog that regulates the financial services. It requires us to give out this document. Use this information to decide if our services are right for you.

2. Whose products do we offer?

Mortgages
  • We offer Mortgages from the whole market.
  • We only offer mortgages from a limited number of lenders. Ask us for a list of the lenders we offer mortgages from.
  • We can only offer a limited range of mortgages from a single lender.
Insurance
  • We offer Insurance from the whole of market for Life Assurance or Payment Protection Insurance or Buildings & Contents Insurance.
  • We offer Insurance from the whole of market for Private Medical Insurance.
Lifetime mortgages and home reversion schemes
  • We offer products from the whole market.
  • We only offer products from a limited number of companies. Ask us for a list of the companies we offer products from.
  • We offer products from a single company.

3. What services will we provide you with?

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 details on. You will need to make your own choice about how to proceed.
Insurance
  • 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 details on. You will need to make your own choice about how to proceed.
Lifetime mortgages and home reversion schemes
  • 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 details on. You will need to make your own choice about how to proceed.

4. What will you pay for our services?

Mortgages
  • No fee, we will be paid commission from the lender.
  • A fee of 0.3% of the loan amount paid on legal completion of the mortgage, for example on £100,000 loan you will need to pay £300. (£100,000 x 0.3%)
Insurance
  • No fee.
Lifetime mortgages and home reversion schemes
  • No fee, we will be paid commission from the lender.
  • A fee of 0.3% of the loan amount paid on confirmation of the mortgage offer, for example on £100,000 loan you will need to pay £300. (£100,000 x 0.3%)

5. Refund of fees

If we charge you a fee and your mortgage does not go ahead, you will receive:

  • A full refund if the lender rejects your application.
  • No refund if you decide not to proceed.

6. Who regulates us?

Mortgage Extra Ltd. The Chapel, 33 Church Street, Coggeshall, Essex CO6 1TX are authorised and regulated by the Financial Service Authority. Our FSA register number is 300499.

Our permitted business is advising and arranging general insurance and 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:

Write to Compliance Officer, Mortgage Extra Ltd, The Chapel 33 Church Street, Coggeshall, Colchester, Essex CO6 1TX

Telephone 0800 027 4484

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. The Financial Ombudsman Service does not consider complaints about home reversion schemes.

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.

Mortgages

Mortgage advising and arranging is covered for the 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.

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.

Further information about compensation scheme arrangements is available from the FSCS