Mortgages – The Basics

For most people, your home will be the largest single investment you will ever make, so making the wrong decision can prove a very costly mistake.

A mortgage can end up costing many thousands of pounds over the lifetime of the loan and what appears to be the cheapest to begin with, may not always prove to be so in the long term.

We have outlined an overview of some of the mortgage options available to you, however, to make an informed decision; please call one of our experienced mortgage advisers on 020 8365 3764 for an appointment.

Advice – Impartial, Unbiased & Neutral

Advice is not the only option available.

If you go to your high street bank you may be greeted by a financial adviser, but they could well be ‘tied’ to recommending and promoting the products of the bank, or a single company with which the bank has a formal agreement. So why do we need advisers, and how can customers be sure they are getting a fair deal?

The Financial Conduct Authority (FCA)

The FCA is the government-appointed watchdog that regulates all financial and insurance firms; these range from the largest multinational bank, to the financial adviser operating as a sole trader. Advisers must embed the FCA’s Treating Customers Fairly (TCF) principles into their corporate culture ensuring the Fair Treatment of Customers is central to their business. The rules are freely available from the FCA’s website: www.fca.org.uk. Please note by clicking on this link you will leave our website and enter into a third party website, which David Nathan Associates is not responsible for.

What protection do I have?

Your adviser will always endeavour to do the very best for you. When you deal with an adviser you will receive details of the complaints procedures offered by the firm. If you wish, you can request a copy of these procedures at any time.

When the adviser is advising you on regulated products (including insurance and some forms of mortgages), you have the protection of the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).

If you are unhappy about the advice or service you have received you should firstly contact the firm that provided the advice or service. This gives them the chance to put things right and/or to provide their own version of events. Should you remain dissatisfied, you can refer your complaint to FOS who will investigate the complaint and make a ruling. FOS work with customers and financial advisers to resolve a complaint and when they do have to make a ruling, it is binding upon the firm.

If you submit a complaint to a firm and the firm is dissolved, or unable to meet its obligations, you may have recourse via the FSCS (Financial Services Compensation Scheme). This is a service funded by all the companies within the industry to protect customers where firms have closed or gone into liquidation.

Consumer Protection

The regulation of financial services is designed to protect customers at every stage.

THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE TAXATION ADVICE AND SOME FORMS OF MORTGAGES.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Make an appointment today to discuss your mortgage with us.

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