Initial Disclosure Document for:

 

Alpha Independent Mortgages LLP

118-120 The Hornet, Chichester, PO19 7JR

0330 32 111 03

enquiries@alphaim.co.uk

 

You should use the information provided within this document to decide if our services are right for you.

 

Whose mortgage products do we offer?

We offer products in the following ‘relevant markets’:

• Regulated mortgage contracts that are used for a non-business purpose;

 

We offer a comprehensive range of first and second charge mortgages from across the market, but not deals that you can only obtain by going direct to a lender

 

Please note that, where you are increasing your mortgage borrowing although we do not (or are unable to) advise on the following finance options these may be available to you and be more appropriate:-

 

• A further advance from your existing lender - unless we inform you otherwise
• An unsecured loan

 

Which service(s) do we offer?

We offer an advised sales service.

 

This means we will provide advice and make a recommendation for you after we have assessed your specific needs and circumstances.

 

What you will have to pay us for this service?

A flat fee of £149 payable at outset plus an additional fee of 0.45% of the amount borrowed paid on completion, subject to a minimum of £895.00 For example for a loan of £220,000.  Our fee will be (149.00 plus (£220,000 x0.45%=£990.00) total fee =£1089.00. However we will offset the fee against any commission we receive from the lender.

In the event that the combination of the initial fee and commission we receive from the lender does not cover our minimum fee, we will invoice you for the difference. If the combination of the fee and commission is in excess of our minimum fee we will retain the excess commission.  If you receive a suitable mortgage offer and do not proceed, we will charge you a fee of £895.

The exact amount of commission we will receive is not known to us at this stage.  We will confirm the actual amount to you as part of the lending illustration we are required to obtain from the lender. 

We will tell you how much the total fee will be in good time before you apply for a mortgage, but you may ask for this information earlier.

You will receive a key facts illustration / ESIS when considering a particular mortgage, which will tell you about any fees relating to that mortgage.  You also have the right to request an illustration / ESIS for any mortgage we offer.

Refund of fees

If we charge you a fee and this is paid, and your regulated mortgage does not go ahead, you will receive:

• No refund of the initial £149.00 will be made under any circumstances should your mortgage not go ahead.

Vulnerable Customers

Occasions may arise where you, as a customer, the firm, an employee, or other associates of the firm identify a customer as being vulnerable.

We will take all appropriate steps to ensure that vulnerable customers are treated fairly and in an appropriate manner, ensuring that all efforts are made to enable them to benefit from a full and relevant advice process

Alpha Independent Mortgages Llp have a Vulnerable Customer policy, which a member of staff will be happy to discuss with you if required.    

CONFLICTS OF INTEREST

Occasions may arise where the firm, an employee, or other associates of the firm has competing professional or personal interests which may prevent these services being provided to clients in an independent or impartial manner.

We will take all appropriate steps to prevent conflicts of interests from occurring in line with the firm’s conflicts of interest policy. However, there may be occasions where a conflict of interest cannot be prevented. Where this is the case, we will disclose to you the nature of the conflict and the steps that we will take to mitigate the risks that you will be treated unfairly as a result of any conflicts identified.

We will make you aware of any conflicts of interest before the provision of services to enable you to choose whether you still wish to proceed with services. A copy of the firms’ conflict of interest policy is available on request.

We may on occasion receive minor non-monetary benefits from third parties such as product providers e.g. food and drink provided at a provider training event. Where relevant, any minor non-monetary benefits received will not conflict with our duty to act in your best interests.    

 

Who regulates us?

We are authorised and regulated by the Financial Conduct Authority (FCA).  Our Financial Services Register number is 630147. 

Our permitted business is:

• Advising on regulated mortgage contracts;
• Arranging (bringing about) regulated mortgage contracts; and
• Making arrangements with a view to regulated mortgage contracts.

 

You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768 (freephone) from 8am and 6pm, Monday to Friday (except public holidays) and 9am to 1pm, Saturdays.

 

What to do if you have a complaint

If you wish to register a complaint, please contact us:

…..in writing                Graham Maxwell, Alpha Independent Mortgages LLP

 

                                    118-120 The Hornet, Chichester, West Sussex, PO19 7JR

                                    grahamm@alphaim.co.uk

…..by phone               0330 32 111 03

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

 

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 will depend on the type of business and the circumstances of the claim.

Mortgage advising and arranging is covered up to a maximum limit of £85,000.

Further information about compensation scheme arrangements is available from the FSCS.