Upon first contact we will make you aware of how we operate
and provide you with some "Key Facts" about the
services we offer. If these declarations are made over the
phone, we are required to confirm these details to you by
sending the "Initial Disclosures Document" (IDD)
within five working business days.
The FSA is the independent watchdog that regulates us and
they require us to give you this information. It is designed
to provide you with information to decide if our services
are right for you.
Gardner Finance advisers search for mortgages from the whole
market, as the company is not tied to any one lender or group
of lenders.
Gardner Finance provides advice however where you have already
decided on a mortgage product or if you choose not to take
the advice and recommendation we will issue a new IDD reflecting
that the mortgage was not advised.
The IDD states how much commission we will receive from the
eventual lender chosen and also the fee we charge for our
services.
The precise amount may well depend upon your circumstances
but where a charge is to be made, past fees charged typically
amount to approximately £500.00 but could be up to a maximum
of 1% of the amount of the loan, which is normally payable
upon legal completion of your new loan. Where a fee is required
up-front it will be clearly stated on the IDD and again on
the Key Facts Illustration relating to a particular mortgage.
Even if you consider your access to credit restricted, because
we are whole of market advisers, we can regularly obtain mortgages
for clients at an overall cost for comparison of 6.8% APR.
The actual rate available will depend on your circumstances.
Ask for a personalised illustration.
If you wish to register a complaint please contact us in
writing to Gardner Finance, Complaints Dept, 497 Chester Road,
Manchester, M16 9HF or by phone 0161 772 7325.
If you cannot settle your complaint with us you may be entitled
to refer to the Financial Ombudsman Service.
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.
Advising and arranging insurance is covered for 100% of the
first £2,000 and 90% of the remainder of the claim, without
an upper limit
Advising and arranging mortgages is covered for 100% of the
first £30,000 and 90% of the next £20,000 so the maximum compensation
is £48,000
09.03.2005
