Legal Information

Initial Financial and Insurance Services Information Document
Access Financial Services Limited
Unit 1 Furtho Court, Towcester Road, Old Stratford, Milton Keynes, MK19 6AN
Phone: 0800 999 3939

Please review this document to assess whether our services are right for you.
We are authorized and regulated by the Financial Conduct Authority (FCA) and operate as an independent mortgage broker with access to the entire market.

We are committed to providing our customers with the highest quality service. If you have questions about our services, please do not hesitate to contact us.

This document has been developed in accordance with FCA requirements to clearly explain the services offered and related fees.

Mortgages – including second charge mortgages (Second Charge Mortgages)
We offer regulated mortgage contracts for non-business purposes from a wide range of offers from the market. However, we do not have access to offers only available directly from the lender.
We also offer second charge mortgages from a limited number of lenders, but not offers only available directly.

If you plan to increase your mortgage, a “Further Advance” (an additional amount with your current lender) or an unsecured loan – which we do not offer, however – may be a better option.

Insurance
We offer insurance products from many insurers, including:
– Life insurance
– Critical illness
– Income insurance
– Business protection
– Private medical care
– Accident and illness
– Family benefits

You can get a list of insurers and products offered upon request.

Mortgage loans and second security
We provide a consulting service – that is, we make recommendations tailored to your needs and situation.

Alternative financing options
If you plan to increase your debt under your existing mortgage, there may be other options available (e.g., “further advance” or cash loan), which we will inform you about.

Insurance
After assessing your needs, we will make a personal recommendation. We act on your behalf, not on behalf of the insurer.

Mortgages and Second Charge
The first consultation is free. If you decide to proceed, there may be a fee:
– Typical broker fee is £795 – £295 at pre-approval and £500 after the loan offer is issued.
– In complex cases: up to £495 at pre-approval and up to 1.5% of the loan value after the offer.
Example: for a loan of £150,000 – maximum fee is £2,250 (1.5%).

For Second Charge, the brokerage fee is up to 1% of the loan value (i.e. up to £1,500 for £150,000).

We also receive a commission from the lender – this will be disclosed in the quote.

Reimbursement of fees
If we charge a fee and the loan is not fulfilled – there is no reimbursement.

Insurance
No fee for the client – we receive a commission from the insurer.

You will receive a quote, which will indicate any additional charges.

Mortgages and Second Charge
The first consultation is free. If you decide to proceed, there may be a fee:
– Typical broker fee is £795 – £295 at pre-approval and £500 after the loan offer is issued.
– In complex cases: up to £495 at pre-approval and up to 1.5% of the loan value after the offer.
Example: for a loan of £150,000 – maximum fee is £2,250 (1.5%).

For Second Charge, the brokerage fee is up to 1% of the loan value (i.e. up to £1,500 for £150,000).

We also receive a commission from the lender – this will be disclosed in the quote.

Reimbursement of fees
If we charge a fee and the loan is not fulfilled – there is no reimbursement.

Insurance
No fee for the client – we receive a commission from the insurer.

Access Financial Services Limited is authorized and regulated by the FCA (number 301173).
Our business includes advising and arranging mortgage contracts and insurance products (non-investment).

Note: The FCA does not regulate certain types of Buy to Let loans – these are not subject to FSCS protection.

You can check this on the FCA registry: https://register.fca.org.uk/s/ or by calling 0800 111 6768.

You will receive a quote, which will indicate any additional charges.

Contact us in writing, by email or by phone:

Access Financial Services Limited
Unit 1 Furtho Court, Towcester Road, Old Stratford, Milton Keynes, MK19 6AN
e-mail: info@accessfs.co.uk
phone: 0800 999 3939

If the case cannot be resolved, you can refer it to the Financial Ombudsman Service.
(Note: they do not process complaints about Buy to Let loans made “in the course of business.”)

Yes – you may be entitled to compensation if we are unable to meet our obligations.
– Mortgages – protection up to £85,000
– Insurance – 90% to 100% of the value of the claim, no limit

Read more: http://www.fscs.org.uk/

Consumer Buy to Let – is a Buy to Let mortgage that has NOT been entered into “in the course of business”.
This usually applies if you or a close relative has lived in the property in question.

Such a loan is regulated by the FCA and offers additional protection.

Not subject to FCA regulations if:
– You are buying a new property solely for rental
– You or a close relative has never lived in the property
– You have other rental properties and the current one is also to be rented out