Downland Mortgages
6b Elgin Gardens
Seaford
East Sussex
BN25 3UR
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?
» 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 mortgages from one single lender.
3] Which service will we provide you with?
» We will advise and make a recommendation to 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 will you have to pay us for our services?
» No fee, as we will be paid by commission from the lender.
» A fee of £500 payable on application, or 1% of the loan if less than £50,000.
We will also be paid commission by the lender.
You will receive a key facts illustration when considering a particular mortgage, which will tell you about any fees relating to it.
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
5] Who regulates us?
Downland Mortgages, 6b Elgin Gardens , Seaford, East Sussex , BN25 3UR is authorised and regulated by the Financial Services Authority. Our FSA Register number is 300871.
Our permitted business is advising on and arranging 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.
6] What to do if you have a complaint
If you wish to register a complaint, please contact us:
… in writing Write to Downland Mortgages, Complaints Department, 6b Elgin Gardens , Seaford, East Sussex . BN25 3UR.
… by phone Telephone 01323 893449
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.
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.