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Open4mortgages.com Key Facts
about our Mortgage Service
1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial
services. It requires us to give you this document. Use
this information to decide if our services are right
for you.
2. Whose mortgages do we offer?
v
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 only offer a limited range of mortgages from a single lender.
3. Which service will we provide you with?
v We will advise and make a recommendation for you after we have assessed your
needs.
You will not receive advice or a recommendation from us. 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.
4. What you will have to pay us for this service?
No fee [we will be paid by commission from the lender].
v
A fee £99 is normally charged for status applications. For non-status applications
a fee of up to 2% is normally charged. This fee is chargeable on completion.
We willl also be paid commission form the lender.
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 does not go ahead, you will receive:
v A full refund if the lender rejects your application.
A refund of £[ ] if the purchase falls through
No refund if you decide not to take out a mortgage.
6. Who regulates us?
Open4mortgages.com is a trading name of Open4biz Ltd which is an appointed representative
of Master Associates Ltd of 9 Coopers Yard, Curran Road , Cardiff , CF10 5D7
is authorised and regulated by the Financial Services Authority. Our FSA Register
number is 159406
Our permitted business is offering advice on regulated
mortgage contracts and general insurances
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:
...in writing Write to: Open4mortgages.com, 9 Coopers
Yard, Curran Road , Cardiff , CF10 5D7
...by phone Telephone 02920 398 989
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.
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 compensation scheme arrangements
is available from the FSCS.
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