About Mortgage ID

Mortgage ID is directly authorised and regulated by the Financial Services Authority. Our registration number is 302699. You can find us listed on the Financial Services Authority website – www.fsa.gov.uk

We may not be the largest firm of financial advisers working in the mortgage and loan sector nor are we the biggest in the personal and corporate insurance sectors, but few work harder than us for their customers. We have clients in all corners of Britain enjoying low cost mortgage and insurance deals. We work to win your confidence and respect and we never forget that our clients have a wide choice of advisers in the market. We are always striving to improve upon our high standards of professionalism and advice.

Unlike the financial advisers found in banks, building societies and most estate agencies - we are totally unbiased. Because we are retained by you, our first duty of care will always be to you. We will always put our recommendation in writing to you so you can always have recourse to us if it is wrong. Our services are usually paid for by the lender or insurance provider. However, If no fee is receivable from them, we will normally ask you to pay our costs of submitting and administering your application. We will always make this clear to you in writing before we complete an application on your behalf. As members of the Mortgage Intelligence, Personal Touch, Sesame, Simply Biz, Paymentshield and Premier Mortgages buying groups, amongst otheres, we are able to offer you many truely amazing deals you are unlikely to hear about if you looked yourself.

Our many years of experience has allowed us to grow our contacts within all the major banks and building societies. These valuable links give us access to hundreds of exclusive products that these same High Street lenders never make available to the public through their branches. We believe we bring real value to our client realtionships because we are geared to saving our clients money and time. That's why they keep coming back and continue recommending us to their friends.

We are proud of our past reputation. In an industry where customers often feel let down by their advisers and register their dissatisfaction to the Regulator, it is refreashing to know that our company has never received a client complaint. It's a reputation we work hard every day to keep. So don't be surprised if you receive a level of service beyond what you expected, it's just us working to preserve our good name.

Mortgage ID does not charge a fee for the professional advice we offer. Everything we do for you up to the point of case submission is free and without obligation. We are confident that our personal service will convince you to use our team to progress your application.

If you decide to go forward we may charge a Brokerage Fee to cover costs associated with submitting your case and following it through to completion. This varies depending upon the size and complexity of your case and any payment we receive from the lender. Your Mortgage ID adviser will present you with a written statement of cost after he has determined your requirements and investigated your case. This is usually paid in two installments. Typical fees range between:

Full Status Residential Purchase or Re-mortgage - A fee between £0 - £1000. with majority of cases undertaken for £495. 50% payable upon submission and 50% upon receipt of the lender's offer. (We may elect to collect this final fee on completion as circumstances dictate) The lender may also pay us a fee

Impaired Credit and Self Certification Purchase or Re-mortgage - A fee of up to 1% of the property value or £695, whichever is greater. 50% payable at outset and 50% upon receipt of the lender's offer. (We may elect to collect this final fee on completion as circumstances dictate) The lender may also pay us a fee.

Buy to Let or Commercial Purchase or Re-mortgage - A fee between 1% and 3% of the property value or £795, whichever is greater. 50% payable at outset and 50% upon receipt of the lender's offer. (We may elect to collect this final fee on completion as circumstances dictate) The lender may also pay us a fee.

We will only submit a case to a lender after we have done the research to convince ourselves that there is a high probablility that it will proceed to completion. In over 95% of cases this is the situation. Ocassionally a case will be rejected by the lender. Usually this is because the lender has found something at the credit check stage which we were not made aware off which renders the case unacceptable. Clients should be aware that once we have submitted a case to a lender we consider our Application Fee earned, irrespective of the lenders decision. Mortgage ID reserves the right to decide whether a further application should be made and whether a second application fee should be charged. Whatever the situation, we will not normally refund an application fee. Once the lender's offer is issued, we consider the final part of our fee earned. Should you or the lender cancel the case for any reason after submission and before the offer is issued, no final fee will be levied.

We do not charge a fee to arrange term life or general insurance for our clients. We receive a fee from the insurer to cover the work we do for them. This is usually sufficient to meet our income expectations. However, should our client cancel a life insurance or general insurance plan after 30 days of issue, the provider will claim back the commission they have paid us. In effect, we are unpaid for the work we undertook for our client in good faith. The amount recoverable and the timeframe over which it is recoverable are dependent on the product chosen. Should this happen, we reserve the right to invoice our client to recover our lost income. The amount we would claim would be an amount equal to the amount we have had to refund. Further details of the amount and timeframe are notified to clients prior to the conclusion of the contract in the suitability letter we send them.

Mortgage ID will never compel a client to take a protection product. We will always explain the implications of not taking insurance and let the client decide whether insurance is right for them. If they decide to proceed, they should be aware that cancelling any plan we arrange will have implications. Clients are asked to confirm this in writing which will form a contract of supply. If you are considering any form of insurance policy and you can foresee yourself concelling the plan before the end of the term, we ask you to tell us and we will let you know what the implications will be both financially and in your ability to get similar cover later on.