 Initial Disclosure Document |
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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 products do we offer?
Mortgage
We offer mortgages from the whole market
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We only offer mortgages from a limited number of lenders.
Ask us for a list of the lenders we select from.
We only offer our own mortgages.
Insurance
We offer products from a range of insurers for buildings and contents
insurance or payment protection insurance.
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We only offer products from a limited number of insurers for buildings and
contents insurance. Ask us for a list of the insurers we offer insurance
from.
3. Which service will we provide you with?
Mortgage
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We will advise and make recommendations 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.
Insurance
We will advise and make a recommendation for you after we have assessed your
needs for buildings and contents insurance or payment protection insurance.
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You will not receive advice or a recommendation from us for buildings and
contents insurance or payment protection insurance. 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 will you have to pay us for this service?
Mortgage
No fee.
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A non refundable administration fee of £395 will be charged at the time of
completing the application form for submission to the lender. We also charge
a fee when your mortgage completes of up to 2% of the loan - minimum fee £
950 and a maximum fee of £ 2950.
A typical fee being £950. We may also receive commission from the lender
with whom we place your mortgage.You will receive a key facts illustration when considering a particular
mortgage which will tell you about any fees relating to it.
Insurance
A fee of £50 for arranging each contract of insurance, payable on the start
date of the contract.
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No fee.
You will receive a quotation which will tell you about any other fees
relating to any particular insurance policy.
5. Who regulates us?
Acorn Property Services, 152 Westborough Road, Westcliff on Sea, Essex, SSO
9JF is an Appointed Representative of Finance Plus UK Ltd, who are
authorised and regulated by the Financial Services Authority. Our FSA
Register number is 411461
Our permitted business is advising on, lending and administering mortgages
and general insurance.
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.
6. What to do if you have a complaint.
If you wish to register a complaint, in the first instance, please contact
us:
…in writing Write to: Customer Services, Acorn Property Services,
152 Westborough Road, Westcliff on Sea, Essex, SSO 9JF.
…by phone Telephone: 01702 390976
If you cannot settle your complaint with us, you may be entitled to refer it
to the Financial Ombudsman Service.
7. 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.
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.
Mortgage
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.
Click to
Read our Terms of Business
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