Mortgage Advice Terms of Business Letter
 

The Mortgage Code to which Norrix Financial Services Ltd subscribes, sets minimum standards of good lending and advisory practice which are to be followed by all lenders and mortgage intermediaries. Below is a copy of a leaflet summarising the Code and explaining what you can expect from us.

 
 

My firm is registered with the Mortgage Code Compliance Board and our registration number is 4640977. We also have Professional Indemnity insurance in place, which provides additional protection for clients if our firm is found to be negligent.

We constantly review the mortgage market in order to select the appropriate lenders to meet your individual circumstances.

Under the terms of the Code there are three levels of service available. These are:

  1. Full advice and recommendation.
  2. Information on different type of mortgage products available to allow you to make a choice.
  3. Information on a single product only, where no advice is given.

We offer a full advice and recommendation service in all cases in order that we can make an informed decision with you about the choice of your new mortgage.

We will also provide you with information relevant to your mortgage needs and the implications of taking out a mortgage, - an information list can be found in the Mortgage Code Summary Leaflet that will be sent directly to you with our initial letter and on the Mortgage Code Web Site (click here)

During our initial discussion, we will be completing a mortgage requirements form to enable appropriate advice to be given on the mortgage and other related insurance products.

Once we have made our recommendations to you, we will confirm our advice in writing. This should be kept by you as it will be a record of the transaction, and details of the product will be confirmed by your lenders formal offer of a loan.

In arranging this mortgage on your behalf, we may receive remuneration. This amount is paid by the lender, on completion, for the work associated with your mortgage application. We will notify you of the exact amount when we recommend a mortgage to you.

In addition to any fee that we receive, the lender may also pay fees to others for the marketing and distribution of this mortgage. If you would like to know the total amount paid, please write to the lender after you receive your formal offer.

We will treat all your personal information as private and confidential (even when you are no longer a customer) except where disclosure is made at your request or with your written consent in relation to arranging your mortgage. You have a right of access under the Data Protection Act 1984 to your personal records whether held manually or electronically.

As a registered subscriber to the Mortgage Code, we may be required by the Mortgage Code Compliance Board (MCCB) as part of their compliance activity, to allow them access to customer records. MCCB confirm that such information will only be sought for Code Compliance activities and that there will be no breaches of customer confidentiality.

Our aim is to provide you with a first class professional and confidential service. However, should you not be satisfied with this service we have internal procedures for handling complaints fairly and speedily.

We belong to the Mortgage Code Arbitration Scheme and full copies of the Code are available on request. The arbitrators are available to resolve certain complaints made by you if the matter remains unresolved through our internal complaints procedure. The address of the Scheme is:
The Mortgage Code Arbitration Scheme, The Chartered Institute of Arbitrators, 24 Angel Gate, City Road, London, EC1V 2RS, Tel: 0171 8374483

 
 

This document solely relates to mortgage business. As the Personal Investment Authority do not regulate mortgages, our Terms of Business for Items regulated by them are provided separately.

YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOANS SECURED ON IT.

A member of the Mortgage Code Register of Intermediaries.