Terms of Business

About this Document

This document outlines important information about the services we offer and how we can act for you. Please take the time to read this information and ensure you understand the difference between using our Mortgage Eligibility checker and our Mortgage Advised Service.

Using our Mortgage eligibility checker

Our Mortgage eligibility check does not look at whether the mortgage is suitable for you and your financial needs. It is designed to give you an early indication of how likely you are to be accepted, should you make a full application for a particular mortgage deal. The mortgage eligibility service is not, and should not be construed as, a recommendation, financial or other professional advice. Professional advice should always be sought before taking action. This can be obtained by contacting one of our qualified advisors.

It is important to note that our online mortgage eligibility check only covers a restricted number of lenders and there are other products available, which this service does not cover.

Using our Mortgage Advised Service

Services we Provide
Once you have contacted us and we have assessed your needs, we will give you advice and make a recommendation in the following areas:-

Mortgages - We offer a comprehensive range of mortgages from across the market. We do not offer bridging finance or mortgage deals which are only available direct from the lender
Protection - We offer products from a carefully selected number of insurers for Income Protection, Critical Illness Insurance and Life Assurance. Please ask if you wish to be given a list of those insurers.
Home - We offer products from a range of insurers for Buildings and Contents Insurance.

Our Costs

This is how we are paid for our professional services:-

Mortgages - Our fee is based on the complexity of your individual circumstances. We will provide you with a free initial consultation and we will always explain exactly what you will be charged before you choose to proceed with an application. If you would like to proceed our fee would never be more than £1495, which is only payable once a mortgage has been offered.
We will also receive a commission from the lender in addition to the fees you pay.
Protection - We will charge no fee but may receive a commission from the insurer.
Home - We will charge no fee but may receive a commission from the insurer.

Any fee payable is non-refundable and the full terms are explained in our fee agreement. The amount of any commission we receive will be disclosed to you before you agree to proceed with an application.

How we are Regulated

If you have a Complaint

We hope that you will never have cause to complain but if you do and you wish to register a complaint, please contact us in the following ways;

In writing:
Mortgage Thoughts
14 Park Square East,
Leeds,
LS1 2LF
By email: complaints@mortgagethoughts.co.uk
By telephone: 0113 360 7646

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service. The Financial Ombudsman Service Exchange Tower, London, E14 9SR Tel: 0800 023 4567 or 0300 123 9 123 www.financial-ombudsman.org.uk

Consumer Protection

We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim. Insurance advising and arranging are covered by 90% of the claim, without any upper limit. Mortgage advising and arranging are covered up to a maximum limit of £85,000. Further information about compensation scheme arrangements is available from the FSCS.

Client Declaration

I will disclose all information fully, accurately and honestly.
I agree that my advisor may need to make enquiries in order to assess my circumstances. I give authority for Mortgage Thoughts and to take up such references and make enquiries about me as they consider necessary. I give my consent for any person to disclose information in connection with my arrangements. I understand this may include a request to confirm my income.

Mortgage Thoughts Limited Registered Office: 14 Park Square East, Leeds, LS1 2LF. Registered Company Number: 09528880 Registered in England & Wales.
Authorised and regulated by the Financial Conduct Authority. Financial Services Register No 943629. See more at https://register.fca.org.uk/. The information contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK

Our mortgage eligibility tool is operated by Lending Score (a third party) on behalf of Mortgage Thoughts. It is designed to give you an indication of how likely you are to be accepted, should you make a full application for a particular mortgage deal. Your eligibility is determined by a high-level check of your credit record and the additional information you have provided. This does not constitute an offer of credit, and you may be referred or declined once a full assessment of your application has been completed. By providing you with an indicative comparison of mortgage products and the likelihood of you being able to obtain those mortgage products, we don’t look at whether the mortgage is suitable for you and your financial needs. The mortgage eligibility service is not, and should not be construed as, a recommendation, financial or other professional advice. Professional advice should always be sought before taking action. This can be obtained by contacting one of our qualified advisors.

It is important to note that our online mortgage eligibility service only covers a small number of lenders and there are other products available. By contacting one of our advisors we will be able to check your eligibility with a more comprehensive panel of lenders.

Your home may be repossessed if you do not keep up with repayments on your mortgage. Think carefully before securing other debts against your home. You may have to pay an early repayment charge to your existing lender if you remortgage.