Call us today on 01642 715351 | Our phone lines are open from 8am to 8pm - Monday to Saturday
The Financial Conduct Authority
The North East Mortgage Centre is a trading style of Steel River Financial Ltd who 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 or by contacting the FCA on 0800 111 6768. Our Financial Services Register number is 781149
Our Services
We are independent mortgage & Insurance advisers and we will recommend a mortgage or insurance product that are suitable for you following an assessment of your personal needs and circumstances. This will include a detailed assessment of affordability.
We will consider all products and lenders that we have access to. This means we will not consider those lenders or providers that are only available by you going direct to them.
Where you are increasing your borrowing, we will consider the merits of both a new first charge mortgage and securing this by an additional mortgage on a second charge basis. You may have the option of a further advance from your existing lender, however, we will only consider this where we are able to deal directly with the lender on your behalf.
It may be in your best interests to explore this option and look at the further alternative of an unsecured loan, as these may be more appropriate for you.
The Costs of our service for standard mortgages
Payable on completion of the mortgage
Mortgages up to £75,000.00 = £695.00
Mortgage between £75,001.00 and £100,000.00 = £650.00
Mortgage between £100,001.00 and £125,000.00 = £625.00
Mortgage between £125,001.00 and £150,000.00 = £595.00
Mortgage between £150,001.00 and £200,000.00 = £550.00
Mortgage between £200,001.00 and £250,000.00 = £495.00
Mortgage over £250,001.00 = £395.00
We will also charge you a mortgage commitment fee of £95.00 regardless of the mortgage amount. This will be payable on application and is non-refundable.
For example:
For a mortgage of £275,000.00 you will pay an upfront fee of £95.00 and then a fee on completion of the mortgage of £395.00
Please notes:
After our initial assessment of your requirements and circumstances, we may assess your application as specialised, as such the fee structure will change to the following:
A mortgage advice fee will be payable on completion of the mortgage of £1250.00 regardless of the loan amount and we will charge you a mortgage commitment fee of £295.00 on application, this fee is non-refundable.
For example:
For a mortgage of £275,000.00 you will pay an upfront fee of £295.00 and then a fee on completion of the mortgage of £1,250.00
Specialised areas are as follows:
You are borrowing in to retirement, you are conducting a transfer of equity, you require an interest only
mortgage, you are consolidating debt; you are purchasing a second home, you have an element of impaired
credit (Defined as: Late payments, Defaults, County Court Judgments, Debt Management Plans, Individual Voluntary Arrangements or Bankruptcy), you are conducting a Right to buy
purchase or Right to buy re-mortgage within the pre-emption period, your case has to be submitted as a paper
based application.
We will receive and retain a commission from the lender when your mortgage completes. This amount will be confirmed by the lender in their disclosure document.
Should you wish you can request to view the commission rates from each of the lenders we have considered at the time that we make our recommendation to you.
Refund of fees
Please note our mortgage commitment fee will still be charged should the lender reject your mortgage application due to you not disclosing any material information about your personal situation. It should also be noted we do not provide a refund of our mortgage commitment fee should you decide not to proceed with the mortgage loan after we have submitted your application to the lender.
Insurances
Non-investment protection
We offer non-investment protection Term assurance. We will provide you with advice and arrange the contract on your behalf after an assessment of your personal needs circumstances. We do not charge you a fee for our insurance services, we are paid a commission from the provider.
General Insurance Contracts
We DO NOT give advice on Buildings & contents insurance (B&C) or Accident, sickness & unemployment (ASU).
With your signed permission we will pass your details to a third party, that will provide you with advice and recommend Buildings & Contents Insurance (B&C) or Accident, Sickness & Unemployment (ASU). We will be paid a commission if you take up any for these policies.
Cancellation rights
Certain protection and insurance contracts allow you the right to cancel after a contract has been put in force. Prior to you entering into a contract of protection or insurance we will provide you with specific details should this apply to include: its duration; conditions, practical instructions and any costs for exercising it, together with the consequences of not exercising it.
Our Ethical Policy
We are committed to providing the highest standard of advice and service possible. The interest of our customers is paramount to us and to achieve this we have designed our systems and procedures to place you at the heart of our business. In doing so, we will:
• Be open, honest and transparent in the way we deal with you;
• Not place our interests above yours;
• Communicate clearly, promptly and without jargon;
• Seek your views and perception of our dealings with you to ensure it meets your expectations or to identify any improvements required.
Instructions
We prefer our clients to give us instructions in writing, to aid clarification and avoid future misunderstandings. We will, however, accept oral instructions provided they are confirmed in writing.
Complaints
If you wish to register a complaint, please write to The North East Mortgage Centre, Suite 20, The Springboard Centre, Ellerbeck Way, Stokelsey TS9 5JZ or telephone 01642 715 351
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4 567.
Compensation Scheme
If you make a complaint and we are unable to meet our liabilities, you may be entitled to compensation from the Financial Services Compensation Scheme.
Further information about the limits applicable to the different product types is available from the FSCS at http://www.fscs.org.uk/what-we-cover/products
Client Verification
We may be required to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose, we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning. This may place a soft footprint on your credit file, however will not affect your credit rating.
Law
This agreement is governed and shall be construed in accordance with the Law of England and the parties shall submit to the exclusive jurisdiction of the English Courts.
Force Majeure
The North-East Mortgage Centre shall not be in breach of this agreement and shall not incur any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its control.
Termination
The authority to act on your behalf may be terminated at any time without penalty by either party giving 7 days’ notice in writing to that effect to the other, but without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date.