Regulatory Statement

Who are we?

Active Mortgage Services Limited are a firm of independent mortgage brokers, based in Guisborough. We have been providing mortgage and insurance advice for our customers since 2006 and have many loyal clients. We are independent, which means we work for our clients’ interests, not those of a bank or insurance company.
Our experienced team consists of qualified mortgage advisers backed up by a dedicated and professional team of support staff. To find out more about us and meet the team go to www.activemortgageservices.co.uk.

What do we do?

We provide Mortgage, Life Insurance, Income Protection and General Insurance advice. We will advise you on the best ways to protect your family, your home and your lifestyle and whether you are buying your first home, stepping up the property ladder, buying a second property or looking at purchasing a buy to Let we can find the best mortgage deal available.

What Products Do We Offer?

Home Finance Products
For Mortgages, We will advise and make a recommendation for you after we have assessed your needs, based on a comprehensive and fair analysis of the market. We have access to the widest possible range of products and companies.
We offer a comprehensive range of mortgages from across the market, excluding lenders’ direct only products.
Insurance
We offer products from a range of insurers for Term Assurance, Critical Illness Cover Mortgage Payment Protection Insurance and Buildings & Contents Insurance.

Are we regulated?

Yes. We are authorised and regulated by the Financial Conduct Authority (FCA) and you are protected by the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS). Please see the back of this document for further information about what this means to you. Note that not all mortgages are regulated for example most Buy to Let and commercial mortgages are not currently regulated.

Our ethos?

We aim to act fairly and impartially at all times and to communicate with you in a jargon-free, easy to understand manner. We aim to provide you with top quality advice and to treat you fairly in all matters. We work in your best interests at all times.

Our service proposition

Full Advice Service
At our first meeting we will introduce ourselves, get to know you, explain our process, what we and the lender will require, complete a thorough fact find, ascertain your objectives, needs, goals and priorities, agree our fees, how they will be paid and agree anticipated timescales. If you want to release more money from your existing property we will always inform you that a further advance may well be available from your existing lender and that you could apply to them.
Following this meeting, using our knowledge of the lenders criteria, we will assess your needs and complete a comprehensive analysis of the mortgage and / or insurance markets to find a mortgage and protection plan that best suit your personal circumstances.
At our second meeting we will advise and make a recommendation to you, agree the products and providers and issue an illustration. We may well at this point apply for a decision in principle, which will give us an indication if that lender is prepared to lend you the money subject to confirmation of information provided and often a subsequent credit score. We will then arrange for the application forms to be completed and will submit them with supporting documents. The list of supporting documents may well include evidence of identification, pay slips, P60s, bank statements and accounts for self-employed people, please note this is an example list and lenders may well request additional information.
Following our meeting we will package the application and forward it to the provider. We will issue you with a comprehensive letter detailing why the product(s) recommended match your needs and are suitable for you. We will liaise with the lenders, underwriters and solicitors throughout the process from start to finish and keep you informed of progress.
If for any reason the mortgage or any insurance do not proceed we will try to understand the reasons why and source another provider for you if possible.

What will you have to pay for our services?

Mortgages and Insurance
Our fee for arranging a standard residential mortgage for house purchase or re-mortgage will be equal to any commission we receive from the lender. Additionally, we will charge you an advice, recommendation, administration and processing fee of up to £499.00, dependng on your circumstances however a typical fee is £299. This fee is a one off fee and provides you with mortgage and protection advice for life.
Our fee for setting up insurance based products will be from the commission we receive from the product provider.
We will disclose any commission and fee to be charged before you decide to proceed.

How do I pay the fee?

When deciding how to pay the fee we will discuss the options with you and answer any questions you may have. You can pay our fee either by cheque or you may elect to add our fee to the mortgage. If you do wish to add the fee to the mortgage we will clearly explain the implications of this now and over the term of the mortgage.
Refund of fees
If we charge a fee and the mortgage does not go ahead we will refund a flat fee of £200.00. No refund will be made if you decide not to proceed.
‘Ad-hoc’ services
Additional services are not charged.

Are you protected?

Yes.
The Financial Conduct Authority (FCA) is the independent watchdog that regulates the financial services industry. Active Mortgage Services Limited of 3 Highcliff View, Westgate, Guisborough is authorised and regulated by the FCA. Our FCA Number is 473140. You can check this by going to the FCA Register at www.fca.org.uk/firms/systems-reporting/registeror by contacting the FCA on 0800 111 6768.
We are authorised to provide advice on mortgages, personal and business protection and insurance. Please note that some of the products or services that we arrange for you or give advice on, may not be regulated by the FCA, but if this is the case, we will tell you beforehand.
So what happens if you are dissatisfied with us?
Hopefully, this won’t be the case, but should you be dissatisfied with the advice we have given you or with the service provided, you should firstly register a formal complaint with us, by either writing to the Compliance Officer at the company addressor by ringing us and speaking with the Compliance Officer or a Director. We will then provide you with details of the complaint investigation process and investigate your complaint thoroughly. Finally we will write to you to explain our findings.
Furthermore, individuals and small businesses are protected by the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).
If you are dissatisfied with the way that we have dealt with your complaint or with our findings, you may refer the matter to the FOS, an independent arbitrator.
Should you be entitled to compensation and we are unable to pay the compensation due, you may be entitled to a payment from the FSCS. Broadly speaking, mortgages are covered up to a maximum limit of £50,000, insurance arranging and advising is covered for 90% of the claim without upper limit. The compensation limits are complicated so if you are concerned in any way, please ask us for more information. Alternatively, you can contact the FSCS directly.
Please note that if you are not an individual, you may not have a right to refer your case to FOS and FSCS. Again, the rules are complicated and depend on factors such as your turnover, the number of employees you have and the value of your business. If in doubt, you should seek more information from us, the FOS or the FSCS.

Terms and conditions

Before we proceed with any service, we will give you our Terms and Conditions of Business which you should read carefully.

Fee agreement

Before we proceed with any service that will require you to pay us a fee, we will detail the fee due as accurately as we can and tell you when fees are payable, how they are paid and the circumstances under which you may be entitled to any fee refund. We will use a fee agreement for this purpose and we will ask you to sign a copy before we proceed further. This is so that we can make a clear and transparent disclosure of fees due in advance of any required payment.

VAT

The majority of our services are not subject to VAT. However, where we provide you with a pure advisory and consultancy service, where there is no reasonable expectation that the advice will result in a recommendation to transact a financial product or to invest funds, then VAT will be charged in addition to our fee at the rate prevailing at the time the fees are charged.