Terms of Business
Kingsway Mortgages Ltd
88 Kingsway
Holborn
London
WC2B 6AA
About Our Services
1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.
2. Whose products do we offer?
- Investment: We offer products from the whole market.
- Insurance: We offer products from a range of insurers.
- Mortgages and home reversion schemes: We offer products from the whole market
3. Which service will we provide you with?
- Investment: We will advise and make a recommendation for you after we have assessed your needs.
- Insurance: We will advise and make a recommendation for you after we have assessed your needs.
- Mortgages and home reversion schemes: We will advise and make a recommendation for you after we have assessed your needs.
4. What will you have to pay us for our services?
- Investment: We will tell you how we get paid, and the amount, before we carry out any business for you.
- Insurance: No fee.
- Mortgages and home reversion schemes: A fee of £0 is payable at the outset and a further fee maybe payable on completion of the mortgage or home reversion scheme. In addition, we will receive commission from the lender.
Refund of Fees
If we charge you a fee, and your mortgage does not go ahead, you will receive no refund in any circumstances.
5. Who regulates us?
Kingsway Mortgages Ltd, 88 Kingsway, Holborn, LondonWC2B 6AAis authorisedand regulated by the Financial Services Authority. Our FSA register number is 191079.
Our permitted business is advising on and arranging life assurance, pensions and unit trust business, non-investment insurance contracts, and mortgages.
You can check this on the FSA's Register by visiting the FSA's website www.fsa.gov.uk/register/ or by contacting the FSA on 0845 606 1234
Home reversion schemes are not regulated by the FSA.
6. What to do if you have a complaint
If you wish to register a complaint, please contact us:
...in writing: The Compliance Officer, Kingsway Mortgages Ltd, 88 Kingsway, Holborn, London WC2B 6AA
...by phone: Telephone: 020 7681 6528
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
The Financial Ombudsman Service does not consider complaints about home reversion schemes.
7. Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the 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.
Investment
Most types of investment business are covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.
Insurance
Insurance advising and arranging is covered for 100% of the first £2,000 and 90% of the remainder of the claim, without any upper limit.
Mortgages
Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000.
Mortgages and home reversion schemes
Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000 so the maximum compensation is £48,000. Home reversion schemes are not covered by the Financial Services Compensation Scheme.
Further information about compensation scheme arrangements is available from the FSCS.
Message from the Financial Services Authority
Think carefully about this information before deciding whether you want to go ahead.
If you are at all unsure about which lifetime mortgage or home reversion scheme is right for you, you should ask your adviser to make a recommendation.
Please remember that home reversion schemes are not regulated by the FSA.