East Cheshire Mortgages Generic (Regulated) Terms of Business

Client Agreement: Services & Costs

We are a Mortgage Broking business, focused on helping you understand and plan Mortgage and associated Insurances (if applicable). This document is designed to give you an idea of:

This document should be read in conjunction with our Letter of Engagement and it is important that you read this document fully and if there is anything you do not understand, please ask us to clarify this for you.

Our Services

Whatever financial decisions you have to make, the first step towards making the right decisions is to establish a clear understanding of your financial needs. People seek financial advice for many different reasons, so it is important that we understand exactly who you are and what you want to achieve (your objectives). At our first meeting we will gather information about you to help define your needs and priorities. Our services include:

We will only start work once we have agreed our services and charges with you. We will give you a copy of our Client Agreement document to set out the services we have agreed to provide and to confirm how much this will cost you.

Our Advice

Mortgage Advice

We offer First Charge regulated mortgage contracts that are used for a non-business purpose only. We do not advise on or arrange any Second Charge Regulated mortgage contracts. If, after assessing your needs, we feel that your circumstances are best suited to a Regulated Second Charge mortgage contract, then we will pass your details to a 3rd Party who will deal with you directly in meeting your needs. We offer a comprehensive range of First Charge regulated mortgages from across the market, but not deals that you can only obtain by going direct to a lender. We will provide an advised service for a regulated mortgage contract. This means we will provide advice and make a recommendation for you after we have assessed your specific needs and circumstances. We also advise and arrange Consumer Buy-To-Let (CBTL) mortgages where the intention is to purchase a property for rental to a family member/relative.

Protection Planning

Where we provide protection planning services we are an insurance intermediary and will provide advice which is based on a fair and personal analysis of the market, after we have assessed your needs for life insurance, critical illness cover, permanent health insurance and household insurance contracts.

Alternative Finance Options

You should note that where we provide services in relation to increased borrowing on an existing mortgaged property there may be alternative options available to you that may be more appropriate. For example:

Our Charges

The way we are paid for our services may depend on the type of advice given. Typically this will be:

All actual charges and fees (in pounds and pence) will be agreed with you before we do any work and we will explain your payment options too and also let you know where any fees are subject to VAT.

Initial Charges

Service description Charges
Mortgage Advice

This service includes:

  • An initial meeting to find out more about you (we do not charge for this initial meeting)
  • Agreeing your financial goals and objectives
  • Establishing your attitude to mortgage risk
  • Reviewing your current arrangements
  • Undertaking research to identify appropriate products
  • Providing a personalised report and recommendations
  • Implementation of agreed recommendations

Typically a fee of £695 per mortgaged property will be payable on completion of the transaction.
This is subject to circumstances and status and may increase for more complex/difficult cases.
All fees are capped at £2995 per mortgaged property

We charge a non-refundable £95 administration fee, up front on all cases.

We will be paid commission from the lender. The amount we receive will be disclosed on the
Key Facts Illustrations or European Standardised Information Sheet (ESIS) you will receive
relating to your chosen mortgage

If we are paid commission by one or more mortgage lenders, you have the right to request
information on the levels of commission we will receive from different lenders in relation to
any mortgage product recommended.

For any aspect of our services all actual charges and fees will be fully disclosed to you.
We will not charge you until we have discussed your payment options and agreed with you how
we are to be paid. We will also let you know if there are any other costs that might arise in
connection with the services we provide to you.

Protection Planning

This service includes:

  • As above but with a focus on your life insurance and health insurance/critical illness cover
No fee is charged direct to you for our advice we provide on protection needs for you.
However, we will receive a commission from the insurance provider, which will be disclosed on the illustration you will receive in relation to the recommended product(s).
Payment options
Initial charges can be paid in a number of ways:
  • Cheque, card or electronic transfer.
  • We may receive a procuration fee or commission from a lender in relation to a product we have arranged for you. We'll tell you the amount before we carry out business for you.
  • In some limited circumstances (for protection planning only) we may receive commission in relation to an insurance product we have arranged for you. The amount of commission is a percentage of the total annual premium and we'll tell you the amount before we carry out business for you.

Data Protection Privacy Notice

This is the Privacy Notice for East Cheshire Mortgages, which is a trading style of Paul Turner Name, and this notice explains how we use any personal information we collect about you.

What information do we collect about you? We collect information about you when you engage us for financial planning and mortgage advice. This information will relate to your personal and financial circumstances. It may also include special categories of personal data such as data about your health, if this is necessary for the provision of our services.

We may also collect information when you voluntarily complete client surveys or provide feedback to us.

Information relating to usage of our website is collected using cookies. These are text files placed on your computer to collect standard internet log information and visitor behaviour information. We will use your information collected from the website to personalise your repeat visits to the site.

Why do we need to collect and use your personal data? The primary legal basis that we intend to use for the processing of your data is for the performance of our contract with you. The information that we collect about you is essential for us to be able to carry out the services that you require from us effectively. Without collecting your personal data we'd also be unable to fulfil our legal and regulatory obligations.

Where special category data is required we will obtain your explicit consent in order to collect and process this information.

How will we use the information about you? We collect information about you in order to provide you with the services for which you engage us.
Who might we share your information with? If you agree, we may email you about other products or services that we think may be of interest to you and we will pass on your personal information to our group of companies so that they may offer you their products and services. We will not share your information for marketing purposes with companies outside our group of companies/other companies. In order to deliver our services to you effectively we may send your details to third parties such as those that we engage for professional compliance, accountancy or legal services as well as product and platform providers that we use to arrange financial products for you. Where third parties are involved in processing your data we will have a contract in place with them to ensure that the nature and purpose of the processing is clear, that they are subject to a duty of confidence in processing your data and that they'll only act in accordance with our written instructions.

Where it is necessary for your personal data to be forwarded to a third party we will use appropriate security measures to protect your personal data in transit, for example by uploading to secure websites provided by the lender or insurer or via email communication, which will be encrypted and/or attached documents password protected. To fulfil our obligations in respect of prevention of money-laundering and other financial crime we may send your details to third party agencies for identity verification purposes.

How long do we keep hold of your information? In principle, your personal data shouldn't be held for longer than is required under the terms of our contract for services with you. However, we are subject to regulatory requirements to retain data for specified minimum periods. We also reserve the right to retain data for longer than this due to the possibility that it may be required to defend a future claim against us. In any case, we will not retain your personal data for longer than 6 years after the time of your death. You have the right to request deletion of your personal data. We will comply with this request, subject to the restrictions of our regulatory obligations and legitimate interests as noted above.
How can I access the information you hold about me? How can I access the information you hold about me?
Marketing We would like to send you information about our products and services which may be of interest to you. If you have agreed to receive marketing information, you may opt out at a later date. You have a right at any time to stop us from contacting you for marketing purposes. If you no longer wish to be contacted for marketing purposes, please contact us by email or post.
Cookies We use cookies to track visitor use of the website and to compile statistical reports on website activity only. For further information visit http://www.allaboutcookies.org/ . You can set your browser not to accept cookies and the above website tells you how to remove cookies from your browser. However, in a few cases some of our website features may not function as a result.
Other websites Our website contains links to other websites. This privacy policy only applies to this website so when you link to other websites you should read their own privacy policies.
What can you do if you are unhappy with how your personal data is processed? You also have a right to lodge a complaint with the supervisory authority for data protection. In the UK this is:
  • Information Commissioner's Office.
  • Address: Wycliffe House, Water Lane, Wilmslow, Cheshire. SK9 5AF
  • Telephone: 0303 123 1113
Changes to our privacy policy We keep our privacy policy under regular review and we will inform you of any changes when they occur. This Privacy Notice was last updated on 03/05/2018.
How to contact us Please contact us if you have any questions about our privacy policy or information we hold about you by writing to us at our usual business address or by email at paul@eastcheshiremortgages.co.uk