1. About Us
Lawes Financial Limited is an independent property finance brokerage. Lawes Financial Limited is an appointed representative of Andrew Charles Consulting Ltd, which is authorised and regulated by the Financial Conduct Authority (FCA) under number 304904. The FCA has authorised us for advising on and arranging regulated mortgage contracts and regulated insurance contracts.
2. Mortgages
2.1 Products & Services
We offer independent advice on mortgages. We conduct an initial consultation with you to fully understand your needs. This is followed by a review and research of the mortgage market to find the best solution to meet those needs. With your agreement to proceed, we will approach the chosen lender and submit a mortgage application.
We will provide ongoing support and communication until your mortgage has completed.
Some products and services we offer are not regulated by the Financial Conduct Authority, for example most Buy-to-Let and commercial mortgages. These products do not offer access to the Financial Ombudsman Service or the Financial Services Compensation Scheme. We will confirm if the mortgage you require is regulated or not.
3. Fees
For the service that we offer, Lawes Financial Limited charges:
An Initial Fee of up to £1,000 payable on application.
A Broker Fee which will not exceed 1% of the loan amount and is payable upon issue of the lender’s mortgage offer or facility letter.
The actual amount of the fees will depend upon your circumstances and the complexity of the case. We will confirm the exact amount of this fee before we start the application. Once a fee becomes due, it is not refundable except in exceptional circumstances at our sole discretion.
We are normally paid a commission from the lender with whom we place your mortgage. Commission rates vary between lenders. The commission amount will be detailed in the mortgage product illustration we provide when making our recommendation.
4. Insurances
4.1 Products & Services
Lawes Financial Limited offers insurance products from a limited number of insurers. Products include Life and Critical Illness Cover, Income Protection, Buildings and Contents, and Private Medical Insurance.
We do not charge a fee for our insurance advice. We are paid a commission from the insurance provider with whom we place your insurance. Commission rates vary amongst providers. The commission amount will be detailed in the product illustration we provide when making our recommendation.
5. Complaints Procedure
We would expect our dealings with you to pass without issues, but in the unlikely event that you wish to register a complaint, please contact us:
Lawes Financial Limited C/O Andrew Charles Consulting Ltd 52 Oxford Road, London, NW6 5SL Tel:
0207 372 5226 Email: info@andrewcharles.net
If you cannot settle your complaint with us, you may be entitled to refer to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by telephone on 0800 023 4567.
6. Financial Services Compensation Scheme (FSCS)
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 upon the type of business and the circumstances of the claim.
Mortgage advising and arranging is covered for 90% of the claim with no upper limit.
Insurance advising and arranging is covered for 90% of the claim without any upper limit.
For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim without any upper limit.
Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk or by telephone on 0800 678 1100.
7. Data Protection
We will treat your personal information confidentially in accordance with data protection legislation, even if you are no longer a client of ours. A copy of our Privacy Notice, which explains in detail how we handle your personal information and your rights under data protection law, is provided separately and is also available on request.
If you require details of the information we hold about you, please contact us at our office address above.
8. Fee Agreement
We have provided you with a copy of our Terms of Business setting out how we will do business, together with a copy of our Privacy Notice, which explains how we handle your personal information and your rightsunder data protection legislation.
This Fee Agreement is a legally binding document. Do not sign it unless you wish us to act for you to arrange property finance and to be bound by these terms.
For the service that we offer, Lawes Financial Limited charges:
An Initial Fee of up to £1,000 payable on application.
A Broker Fee of up to 1% of the loan amount, payable upon issue of the lender’s mortgage offer or facility letter.
The Initial Fee we are charging you is £495.00.
The Broker Fee we are charging you is up to 1% of the loan amount.
We are normally paid a commission from the lender. Commission rates vary between lenders.
The Initial Fee and Broker Fee are in addition to any commission received from a lender. When we recommend a mortgage product to you, we will send you a Mortgage Product Illustration detailing all fees relating to the transaction.
8.1 Payment Terms
If your mortgage does not go ahead after the application to the lender has been made, or if it is unable to
proceed because you have withheld material information from us, we will not refund the Initial Fee.
Important: If you choose not to proceed with the offer once it has been received from the lender, you remain liable for the full Broker Fee. This applies even if you decide not to complete the mortgage transaction.
Should either fee remain outstanding after the due date, interest will be charged at 4% per annum above the HSBC Bank plc base rate (current base rate information available at www.hsbc.co.uk). Interest will continue to accrue on all outstanding amounts until the fees have been settled in full.
If you fail to pay the fees when due, we reserve the right to take legal action against you to recover the amounts owed, including any accrued interest and reasonable legal costs. Such action could adversely affect your credit rating.