TERMS & CONDITIONS

The Financial Conduct Authority

WIS Mortgages and Protections is a trading name of WIS Contractor Mortgages Ltd and is authorised and regulated by the Financial Conduct Authority (FCA). The FCA regulates financial services in the UK, and you can check our authorisation and permitted activities on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register. Our Financial Services Register number is 824411.

Our Services

We are independent mortgage advisers and will recommend a mortgage product suitable for you after assessing your personal needs and circumstances, including affordability.

We consider all products and lenders available to us, excluding those only accessible directly by customers.

If you’re increasing borrowing, we may assess new first charge mortgages or additional mortgages on a second charge basis. We may also review further advances from your current lender if we can deal with them on your behalf.

In some cases, an unsecured loan may be more suitable for your needs.

The Costs of Our Service

We charge a mortgage fee in consideration of preliminary processing, information gathering, planning and research with provision of the advice provided to you in recommending the most suitable mortgage product.

The maximum we charge is 1% of the new loan amount. For example, if the total amount being borrowed is £150,000 our charge could be £1,500. Our typical fee is £495

The amount of the mortgage fee will be based on the complexity of your individual case. We will agree the mortgage fee in writing prior to any mortgage application being submitted to the lender.

As we offer a bespoke service our charges can vary. The mortgage fee doesn’t merely cover the administration of your loan application. It also covers our extensive research, our in-depth knowledge of the market and the mortgage advice you receive from us. The mortgage fee will be VAT exempt unless the work we provide for you only involves advice and or preparing a report, in which case VAT may be applicable. We will always tell you if you must pay VAT before we undertake any work for you.

As a mortgage is secured against your home, it could be repossessed if you do not keep up the mortgage repayments

Our Ethical Policy

We are committed to offering the highest standard of advice and service. Your best interests are at the heart of our business, and we aim to:

• Be open, honest, and transparent in all interactions;
• Never place our interests above yours;
• Communicate clearly and without jargon;
• Seek your feedback to improve our services continually.

Instructions

We prefer written instructions to avoid misunderstandings. However, we will accept oral instructions if followed by written confirmation.

Compensation Scheme

If you make a complaint and we cannot meet our obligations, you may be eligible for compensation under the Financial Services Compensation Scheme (FSCS). More information is available on their website: FSCS website.

Client Verification

We may verify client identity, understand the nature and purpose of services we provide, and ensure up-to-date information. This may include electronic identity checks at the start and throughout our relationship.

Law

This agreement is governed by English Law and falls under the exclusive jurisdiction of the English Courts.

Force Majeure

WIS Contractor Mortgages Ltd will not be held liable if unable to perform due to circumstances beyond reasonable control.

Termination

Either party may terminate our authority with 7 days’ written notice. This does not affect any transactions already started, and applicable charges will be settled up to the termination date.