Who are we and what do we do?
Helpforbuyers provides a quick and simple phone based mortgage advisory service throughout the UK. We provide consumers a ‘whole of the market’ mortgage search. We also provide advice on protection products such as life cover and critical illness cover.
Helpforbuyers.co.uk is a trading name of Helpforbuyers Ltd an appointed representative of The Right Mortgage Limited, which is authorised and regulated by the Financial Conduct Authority (FCA). The FCA is the independent regulator of financial services in the United Kingdom. The Right Mortgage Limited is entered on the Financial Services Register (www.fca.org.uk/register) under reference 649443.
Who is The Right Mortgage Limited?
“We are a completely independent Network for mortgage and protection brokers with over 800 member firms across the UK. Our Network is owned by our founding Directors; Martin Wilson, Amanda Wilson, Adam Stretton and Tania Stretton, all of whom have worked as advisers in the past.”
Their address is: The Right Mortgage Limited, St Johns Court, 70 St Johns Close, Knowle, Solihull, B93 0NH. Tel: 01564 732 749.
To find out more about The Right Mortgage and the support and backing they provide us with, please visit their website www.therightmortgage.co.uk
What can we do for you?
Our mainstream service is to act on your behalf for the purpose of arranging and advising on the following:
- Mortgages, including Buy-to Let
- Personal & Family Protection, for example a Life Assurance or Critical Illness Plan;
For all the services described above we will complete a detailed fact find so we can understand your circumstances, specific needs and objectives. Following our research we will provide a personal recommendation(s) for you to consider. With your agreement we will then implement our recommendation(s) and arrange any products on your behalf. Ultimately, whichever type or level of service you require from us we will act in your best interests at all times.
Further details about these and other related services we provide are contained in the pages below. This also confirms the typical cost and how you can pay us for them.
Before you consider our services in more detail we would like to draw your attention to the following important information:
When we have discussed and agreed with you the services that we are to provide we will confirm this to you in a Client Agreement. This will describe the scope and specific services to be provided including any on-going services, the cost and how it can be paid for. It will also confirm how we use and store personal information that we collect from you in the course of providing our services. A copy of our standard Client Agreement is available on request.
From time to time it may be necessary for us to collect personal information from you, prior to concluding a written Client Agreement, to assess whether we are able to meet your needs. In this event we will clearly identify the data to be collected and will use it only for the purpose of assessing our ability to provide services to you.
Under the terms of Financial Conduct Authority (FCA) regulations we will classify you as a retail client for investment and pensions business. As a retail client you have the right to request re-classification as an elective professional client. This may be generally or in respect of a particular service, type of transaction or product, and is subject to the following:
- All requests for re-classification must be made in writing;
- We will consider such requests on a case by case basis against the criteria set out in FCA rules.
- We will confirm the scope of any re-categorisation along with the consumer protections you will lose as a result.
- You must keep us informed of any change to your circumstances that could affect your classification
We will not advise you if you are experiencing difficulties managing debts. Free help and advice about managing your debts is available by contacting the Money Advice Service via its website: www.moneyadviceservice.org.uk/en/articles/where-to-go-to-get-free-debt-advice
INFORMATION ABOUT OUR MORTGAGE SERVICES
Whose products do we offer?
We offer a comprehensive range of mortgage products from across the market for first charge mortgages only. We do not offer deals that you can only obtain by going direct to a lender. To review the list of lenders we offer mortgages from, please refer to the appendix attached.
For those seeking to increase their existing borrowing, alternative finance options may be available and more appropriate for your needs. For example, a further advance from your existing lender, a second charge mortgage or an unsecured loan (e.g. a personal loan).
How much will you have to pay for our mortgage services?
For establishing your needs, undertaking research and making a recommendation, we don’t charge any fees.
We charge a broker fee of £395 which becomes payable when you wish to proceed with our mortgage product recommendation.
If you choose to proceed with our recommendation and the mortgage goes ahead, we will also be paid commission from the lender for arranging the mortgage on your behalf. Typically, this is 0.37% of the mortgage loan. Based on a £100,000 loan this would be £370
If you apply for a mortgage that does not go ahead, you will receive, a full refund of the broker fee paid. This is subject to our refund terms and conditions below.
Refund of Fees
Helpforbuyers.co.uk will refund the broker fee if we cannot provide a suitable mortgage product from a lender. The broker fee may be retained if the mortgage application fails due to the provision of incorrect or false information.
You will receive a personalised illustration when considering a particular mortgage. This will highlight the key facts about the mortgage product including any fees relating to it.
INFORMATION ABOUT OUR INSURANCE SERVICES
Personal and Family Protection
We only offer products from a limited number of insurers for Life Assurance, Critical Illness Cover and Income Protection Insurance. Ask us for a list of the insurers we offer insurance from.
We do not offer general insurance advice or products.
How much do we charge for our insurance services?
We do not charge a fee for advice and arranging an insurance product. We will receive commission from the insurer and this is reflected in the premium amount you pay to them. The amount of commission we receive will vary depending on the type of contract, term of the cover and the premium amount.
We will tell you how much commission we expect to receive before we transact business for you. You will receive a quotation, which will tell you about any other fees relating to any particular insurance policy we arrange for you.
INFORMATION ABOUT OUR OTHER RELATED SERVICES
We will tell you how we get paid and the amount before we carry out any business for you.
We are also Credit Brokers. This means that if you require a loan other than a mortgage, (whether secured or unsecured, e.g. a personal loan) we can refer you to a specialist third party who can discuss your specific needs with you. We will not advise you on this type of borrowing and you will need to make up your own mind whether to go ahead with it or not.
Other benefits we may receive
Some of the firms whose products we recommend provide us with access to training and software which allows us to offer you a better service. Some of the costs of these benefits may be passed onto you as part of the total charges you pay, should you choose to purchase a product from one of these firms. Further information regarding these arrangements is available on request.
WHAT HAPPENS IF YOU HAVE A COMPLAINT?
If you are unhappy with the service you have received or a product we have arranged on your behalf, a copy of our complaints procedure, which sets out how we will handle your complaint, is available upon request.
If you would like to make a complaint please contact us either in writing to: Compliance Director, The Right Mortgage & Protection Network, St Johns Court, 70 St Johns Close, Knowle, B93 0NH; or by e-mail: firstname.lastname@example.org; or by telephone: 01564 732 744.
If we are unable to settle your complaint or you are unhappy with our response, the Financial Ombudsman Service may be able to help. We will explain how at that point.
If you require further information about the Financial Ombudsman Service you can contact them directly:
Tel: 0800 0234567
ARE WE COVERED BY THE FINANCIAL SERVICES COMPENSATION SCHEME (FSCS)?
Yes, we are covered by the FSCS. You may be entitled to compensation from the scheme if we are unable to meet our obligations. This will depend on the type of business and the circumstances of the claim. The FSCS only pays compensation for financial loss and the limits are per person per firm, and per claim category, as listed below:
Arranging and advising on most types of investment (e.g. an ISA) is covered up to a maximum limit of £50,000 per person per firm.
Long Term Insurance Contracts:
Arranging and advising on long term insurance contracts (e.g. a life insurance policy, personal pension or annuity) is covered for 100% of the claim without upper limit.
General Insurance Contracts:
Arranging and advising on compulsory classes of insurance (e.g. employers liability), professional indemnity insurance, and general insurance contracts that pay out on death or incapacity due to injury, sickness, or infirmity (e.g. an accident & sickness policy) is covered for 100% of the claim without upper limit.
Arranging and advising on other types of general insurance contracts (e.g. Building and Contents) is covered for 90% of the claim without upper limit.
Mortgages & Equity Release Products:
Arranging and advising on mortgages and equity release products is covered up to a maximum limit of £50,000 per person per firm.
Further information about the FSCS is available from their website: www.fscs.org.uk