TERMS OF BUSINESS (MORTGAGES)
 

1.
Charcol Limited, trading as Charcol, are able to offer a mortgage intermediary service which is provided by its Mortgage Consultants the "service"). These Terms of Business set out the terms which apply to this service.
 

2.
In these Terms of Business references to "we", "us" and "our" mean Charcol Limited as providers of this service. References to "you" and "your" means you as the recipient of this service.

Charcol and the Mortgage Code
3.
We subscribe to The Mortgage Code. The Mortgage Code sets standards for lenders and intermediaries to follow when dealing with borrowers. We are registered with the Mortgage Code Compliance Board and our registration number is 4834829.
 

4.
A copy of the Council of Mortgage Lenders leaflet 'You and Your Mortgage' has been provided. This leaflet summarises the Code and what you can expect from us. Full details of the Mortgage Code are available from any branch of Charcol, or by writing to The Mortgage Code Compliance Officer, Charcol, 21-27 Lambs Conduit Street, London, WC1N 3BD.
 

5.
During your interview we will provide you with a copy of 'Charcol's Guide to Buying Your Home'. We recommend that you read this brochure as it contains important information about taking out a mortgage.

Our status under the Code
6.
We act as a mortgage intermediary and are not tied to any lender. We will act independently for your benefit.

Range of mortgage products available
7.
As an independent mortgage advisor we can scour the open market to find the most suitable mortgage product for our clients' needs. We are also able to offer a range of exclusive products that are available only to our group companies and a range of shared exclusive products that are available to our group companies and at least one other mortgage broker.

Levels of service
8.
Under the terms of the Mortgage Code, there are three levels of service which may be provided these are:
a) Advice and a recommendation as to which mortgage is most suitable to you.
b) Information on a range of mortgage products so you can make an informed choice of which to take.
c) Information on a single product only, if you have already made up your mind or there is only one mortgage product available.
9.
Charcol will mostly provide the following level of service:
a) Advice and a recommendation service.
Once we understand your requirements we will recommend the product we feel is most suitable for your needs, preferences and
personal circumstances. We shall confirm our recommendations to you in writing. This is the highest level of service available and one
that we strongly recommend that you take.
We may also provide the information on a single product level of service (level c), at your request.
Before you take out a mortgage through us we will confirm, in writing, the level of service given.

Illustrations
10.
We will provide you with a written illustration which details information about the product to be purchased. It is important that you fully understand this illustration, and we will take time during the interview to go through it with you.

Remuneration
11.
Any fee, or marketing allowance paid to us by a lender in return for placing a mortgage with them, will be confirmed to you in writing.

Fees and other charges
12.
We may charge you a fee for arranging mortgage finance in accordance with the separate fee agreement which forms part of these terms of business. Should we do so, we will agree the fee before we carry out any chargeable work. A fee of £75 will be payable to us at application on all exclusive and shared exclusive products which may be refunded if the application does not proceed.
 

Protecting your mortgage
13.
Charcol Mortgage Consultants are not authorised to provide advice on investment based financial products. However, they are able to offer independent advice on protection products including term assurance for critical illness and life cover. The advice will be restricted to the amount of protection to cover your mortgage loan. Charcol Mortgage Consultants are also able to offer independent advice on income protection products.
 

14.
If you require a full financial review this will be carried out with one of our Independent Financial Advisers (Consultants) who are authorised by the Financial Services Authority. You will be provided with our Terms of Business (Financial Planning) which apply to our financial planning service.
 

15
Upon your instructions, we will gladly arrange for you to receive either of the above areas of advice. We do not charge a fee for our advice in relation to protection products however, we may receive commission from the provider of these products.
 

Verifying Identity
16.
We are required to verify your personal identity and address in accordance the Money Laundering Regulations. This will be required at the outset of our dealings with you and no completion on a mortgage or policy will take place until such verification has been obtained.
 

17.
All correspondence may be sent by post to your last known address. We will not be responsible for lost correspondence or any consequences that may arise from any error or failure of the postal system. The Recorded Delivery service will not normally be used.
 

Complaints
18.

Our aim is to provide you with a first class service. However, in the event that you are dissatisfied with the service you have received, then you can:

  • contact your local branch,
  • contact Customer Relations on 01274 806304, or alternatively
  • write to: Customer Relations (Charcol), Bradford & Bingley Plc, PO Box 88, Croft Road, Crossflatts, Bingley, West Yorkshire, BD16 2UA.
 

19.

If you feel that your complaint has not been resolved to your satisfaction then, depending on the nature of your complaint, you may refer your case to either:

  • The Mortgage Code Arbitration Scheme,
    International Arbitration Centre, 12 Bloomsbury Square, London, WC1A 2LP.
    or
  • The Financial Ombudsman Service
    South Quay Plaza, 183 Marsh Wall, London E14 9SR.
20.
Further information on our complaints procedure can be found in our internal complaints brochure, which is available from any branch of Charcol or by contacting our Customer Relations Department.
 

Personal Information
21.
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 consent or where we are required by law to disclose. We will hold your details for a minimum of 6 years.
 

22.
You have a right to apply for a copy of records relating to your transactions with us (subject to a £10 fee). Should you wish to exercise this right then please write to: The Data Protection Section, PO Box 88, Croft Road, Crossflatts, Bingley, West Yorkshire, BD16 2UA.
 

23.
For further details on our data protection policy please refer to the 'Confidential Client Questionnaire'.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.
Lending is subject to status and security will be required. Applicants must be aged 18 or over. Life assurance may be required. Written quotations are available upon request. A fee of £75 will be charged by Charcol at application on all exclusive and shared exclusive products and may be refunded if the application does not proceed. Charcol is a trading name of Charcol Limited. Charcol is authorised and regulated by the Financial Services Authority (FSA) and is a member of the General Insurance Standards Council (GISC). Registered office: PO Box 88, Croft Road, Crossflatts, Bingley, West Yorkshire, BD16 2UA. Registered in England no. 1157154. FSA does not regulate mortgage advice, health and general insurance and some forms of life cover.