Our Status
Mortgage Market Limited is authorised and regulated by the Financial Services Authority in respect of mortgage and general insurance business. Mortgage Market Limited is entered on the FSA register (www.fsa.gov.uk/register/) under reference 305559.
We are also able to advise on other products and services that are not regulated by the Financial Services Authority such as commercial finance, bridging finance and buy to let finance . There is no Financial Services Compensation Scheme available for these products and services. We are independent brokers, specialising in non-conforming mortgage business as well as status and commercial mortgages needs, and are registered under the Data Protection Act, hold a full Consumer Credit Licence and have appropriate professional indemnity insurance cover.
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Professional Service
We will provide an explanation of the main relevant repayment options available, (e.g. capital and interest or interest only). If you select repayment option, which requires a product that is regulated under the Financial Services Authority, we will introduce you to an Independent Financial Advisor local to you. This person will provide an additional ‘Terms of Business’ letter, advice and recommendations for products regulated by the Financial Services Authority (FSA). During our initial discussions, we will complete your detailed mortgage requirements and financial review questionnaire, to enable appropriate advice and recommendations to be given on your mortgage and other related insurance products. We will confirm our advice in writing, detailing the product details and our reasons for making the recommendations. This should be kept by you for your records and will be confirmed by your lenders formal offer of a loan.
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Our Remuneration
We accept remuneration on a fee basis and/or a commission basis and the details will be covered in the Initial Disclosure Document (IDD) or separate fee agreement issued to you. If we agree to work on a fee basis in place of, or together with commission, we will provide you with a separate fee agreement confirming our charges and any related expenses before carrying out any chargeable work. Details for the payment of our fees are contained in the fee agreement.
Where we arrange an insurance contract on your behalf we reserve the right to charge you a fee, without the need for a separate fee agreement if you subsequently cease to pay premiums on that insurance policy. This could apply for a period of up to four years and will reduce pro-rata in line with the commission we are obliged to return to the Product Provider. The maximum amount of the fee will be no more than the amount of commission disclosed in the illustration. This will not apply where you exercise your statutory right to cancel the policy in accordance with the cancellation notice issued to you by the product provider .
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Collection of Data
You agree we may hold and process personal information for the purposes of providing financial services including mortgage advice and insurance. This may include sensitive information about racial or ethnic group, physical or mental health, sexual life, criminal proceedings and offences. We gather information from a variety of sources including other financial institutions, employers, professional advisers and licensed credit reference agencies.
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Access to your Data
You have the right to access information we hold about you. You can request a copy of these records by contacting:
The Data Protection Officer,
Mortgage Market Limited
Sawood House, Sawood Lane,
West Yorkshire BD22 9SP
We are entitled to charge a fee for this service of up to £10. If any of the information we hold is incomplete, or inaccurate, please inform us and we will correct it.
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Use of your Data
Mortgage Market Limited will use your Personal information for compliance and monitoring purposes. Information may be passed to other financial firms in the course of providing services. We may provide information to our regulators and their successor. We may from time to time contact you by post, fax, e-mail or telephone with details of products and services, which may be of interest to you. If you would prefer not to receive this information please indicate your preference. We shall disclose information to relevant authorities where we are required to do so by law in relation to Money Laundering & Financial Crime legislation. We are legally obliged to verify the identity of our customers and retain these records. We will report suspicious transactions to the appropriate Mortgage Market Limited department, who may in turn notify the National Criminal Intelligence Unit. We will retain records for a minimum period of 6 years .
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Third Party Rights
These terms of business exclude any rights, which may be conferred upon third parties by the Contracts (Third Party Rights) Act 1999.
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Review
Unless you request us not to, we will review any mortgage or insurance contract that we have arranged for you at appropriate periods to provide relevant advice at the time of review. We will, of course, provide you with advice at any time you request us to do so. This review is a free service and does not place you under any obligation to take action on the advice we provide.
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Transparency
For all purchase finance, you agree to declare all and any relevant information or arrangements made that may have a bearing or influence on the contract price you have agreed with the vendor and is related to the property that we are arranging your finance for.
You agree to provide full disclosure of all matters relating to your personal and financial status to enable the lenders we introduce to you, to be able to make an informed decision as to the amount and under what terms and conditions the lender will offer finance facilities or mortgages to you for either purchase or re-financing a property. It is vital that you provide full disclosure (which is held in confidence) when making an application for finance. Failure to do so may render you liable to legal action.
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Treating Customers Fairly
Mortgage Market Limited and its employees are dedicated to treating all customers fairly. This means that we will undertake regular surveys as to your views regarding the advice and service that we provide during and after the process of providing you with advice and arranging the most appropriate finance for you. We will undertake to find out from you what your requirements are and take into consideration your particular circumstances before providing advice.
We will discuss with you the potential for foreseeable changes in your circumstances in the future in relation to your attitude to the levels of risk of such events and suggest mortgage products with features that help to mitigate the impact of these changes according to your attitude towards risk. We will automatically provide you with appropriate insurance quotes for products that should help mitigate or negate the impact of adverse changes in your circumstances, such as accident, sickness and unemployment and or life and critical illness protection. You will not be obligated to take out any policies recommended. However, if you decide not to take out appropriate protection, you will be asked to sign a statement to the effect that you have received advice in this regard and have decided to make your own arrangements. Once you become a client of Mortgage Market Limited you are entitled to contact us at any time, during office hours, to discuss your mortgage or protection needs. We will always respond and attempt to provide you with an accurate and rapid advice service.
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Termination
Either party notifying the other in writing may terminate these terms of business at any time. This will be without penalty and without prejudice to the completion of transactions already commenced on your behalf. You would be expected to pay for any costs incurred or a due proportion of any fees previously agreed. Mortgage Market was established as a partnership in 1997 and incorporated as a private limited company in 1999 as an independent residential and commercial mortgage packaging company. In 2004, the company decided to focus resources on direct client business and be multi registered with a variety of " mortgage packagers " as well as lenders throughout the UK.. This enabled us to access a huge range of exclusive deals and be able to look after our own clients direct instead of other peoples clients.
Our small dedicated team has many years experience in advice, designing solutions, underwriting, managing applications and progressing solutions to a successful result for our clients. We provide a 1st Class added value service to our clients. 80% of our business is derived from existing clients, with the remainder coming by way of clients kindly introducing us. Our success rate is one of the highest in the country with over 97% of cases submitted achieving appropriate offers of finance.
We have developed specialist knowledge and experience in residential finance for purchasers, movers, 2nd home and first time buyers. In addition we have specialist knowledge and experience in arranging non-conforming mortgages, for residential investment property mortgages ('Buy-to-let'), for commercial mortgages and loans.
- Financial Services Authority Registration no. 350999
- Office of Fair Trading Consumer Credit License no.475457
- Data Protection Register Z4732390
- Private Limited Company No. 3758210
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