Legal & compliance
Important information about how we are regulated, what we charge, how we are paid and what to do if you are unhappy with our service.
Regulatory status
First Stop Mortgages And Protection NI Ltd is an appointed representative of PRIMIS Mortgage Network, a trading name of First Complete Limited, which is authorised and regulated by the Financial Conduct Authority. Primis is entered on the Financial Services Register under number 435779. Our FCA reference number is 617038. You can check this on the FCA Register.
PRIMIS Mortgage Network authorises us to advise and make arrangements in relation to:
- Mortgages
- Life and health insurance
- Personal accident insurance
- Private medical insurance
- General insurance
- Business protection
The FCA does not regulate our services or activities for Buy to Let mortgages taken out for investment purposes. The FCA does supervise firms who advise on or arrange Consumer Buy to Let mortgages, but the regulatory protections are limited. A Consumer Buy to Let mortgage is a buy to let mortgage on a property that was originally your home (or was inherited) and is now rented. Our documentation will tell you whether any mortgage we recommend is a Consumer Buy to Let.
Our services
We provide an advised service. We assess your needs and make a personal recommendation for each of the mortgage and insurance areas you ask us to help with. We act for you, not the lender or insurer. Our advice is based on your circumstances at the time and on our understanding of current legislation, which can change.
Mortgages
We offer a comprehensive range of first charge mortgages from across the market, but not deals you can only obtain by going direct to a lender. We do not advise on regulated second charge mortgages but can refer you to a suitable firm. You can ask us for a list of our mortgage providers, or view it on the Primis website. There is a separate list for borrowers who live in Northern Ireland.
Protection and insurance
For term assurance, family income benefit, non-investment whole of life, critical illness, income protection and private medical insurance, we offer products from a range of insurers based on a fair analysis of the relevant market. Business protection (business loan protection, relevant life, key person, and shareholder or partnership protection, and executive income protection) is also offered from a range of insurers based on a fair analysis of the market.
We offer buildings and contents insurance from Paymentshield, Uinsure, 3XD, Assurant, First 2 Protect and LV=; personal accident insurance from MetLife; Executive Key Person Income Protection from Legal & General; and group life, group critical illness and group income protection from MetLife and Aviva. Group private medical insurance is offered from a range of insurers.
Any products or services offered by an introducer are entirely optional. Your access to our mortgage or protection advice is not conditional on using them.
Fees and how we are paid
| Service | Fee |
|---|---|
| Mortgage advice, first-time clients | Usually £395, up to £495 depending on complexity |
| Product transfers for existing clients | £0 to £195 |
| Buy to Let, self-build and debt consolidation mortgages | Usually £495 |
| Protection and insurance | No fee |
Our mortgage advice fee depends on what mortgage you need, your financial circumstances and the complexity of what you want, and will be between £0 and £495. The fee is payable on application. You will not receive a refund if your mortgage or loan does not go ahead.
We are also paid a procuration fee by the lender. You will be told how much this is when we give you your mortgage illustration, and you can ask in advance the percentage of the loan each lender will pay us. If an application is submitted through a third-party specialist (a packager), we are paid commission by them instead, and this will be disclosed to you.
For insurance products we do not charge a fee. We receive commission from the product provider, calculated as a proportion of the premiums you pay. Your quotation will show the fees and charges for any policy we recommend.
You should only pay money to us for fees we have charged for mortgage services. We do not accept cash, and we are not authorised to hold client money. Pay lenders and providers directly.
Limitations of our advice
- We do not provide tax advice. If you are unsure about the tax implications of a transaction, seek appropriate advice.
- Where you use a government scheme (such as Right to Acquire or Help to Buy) or another shared equity or shared appreciation scheme, our advice is limited to the regulated mortgage contract, not the suitability of the scheme.
- When we suggest placing a life policy in trust, we provide general guidance on the benefits of trusts rather than a specific trust recommendation. Seek specialist advice if you are in any doubt.
- If you want to increase borrowing on a mortgaged property, we will consider a further advance from your current lender or a new mortgage with a different lender. We do not advise on second charge loans or personal loans, but can introduce you to firms who do.
- We can advise on interest-only borrowing into retirement. We do not advise on lifetime mortgages, but can introduce you to an appropriately qualified adviser.
It is your responsibility to give full and accurate information to us and to any lender or provider. Failing to disclose material information could invalidate an insurance policy or lead to a mortgage application being declined.
Complaints
We hope you are happy with the service we provide. If you wish to register a complaint, please contact:
| In writing | The Customer Resolution Team, Primis Mortgage Network, 3700 Parkside, Birmingham Business Park, Solihull, West Midlands, B37 7YT |
|---|---|
| By telephone | 0121 767 1139 |
| By email | complaints.solihull@primis.co.uk |
Full details, including what happens next, are on our Complaints page.
Primis will aim to deal with your complaint quickly and impartially. Details of how to complain and what happens next are on the Primis complaints page.
If we cannot resolve your complaint to your satisfaction, you may be entitled to refer it to the Financial Ombudsman Service. The Financial Ombudsman Service cannot make judgements on Buy to Let mortgages taken out predominantly for investment or business purposes, which includes most Buy to Let mortgages. Our final response will tell you whether you can refer your complaint to them.
Compensation scheme (FSCS)
We are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation if we cannot meet our obligations, depending on the type of business and the circumstances of the claim. Our services for residential mortgages, protection and general insurance are covered. The scheme does not cover our services for Investment Buy to Let or Consumer Buy to Let mortgages, and large businesses may not be eligible to claim for protection or insurance advice.
Find out more at www.fscs.org.uk, call 0800 678 1100 or 0207 741 4100, or write to Financial Services Compensation Scheme, PO Box 300, Mitcheldean, GL17 1DY.
Important information
Your home may be repossessed if you do not keep up repayments on your mortgage.
- Think carefully before securing other debts against your home. Debt consolidation can increase the total amount you repay.
- The Financial Conduct Authority does not regulate most Buy to Let mortgages.
- Protection policies typically have no cash-in value at any time and will cease at the end of the term. If premiums are not maintained, cover will lapse.
- The calculators on this website are for illustration only and do not constitute advice.
- The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.
Electronic identity checks
We are required by law to confirm your identity. We may check your identity electronically, which leaves an enquiry footprint on your credit file but does not affect your credit score. If an electronic check is unsuccessful, we will ask for alternative proof of identity.
Conflicts of interest
We maintain procedures to prevent and manage conflicts of interest between you and us, Primis or other clients. If a conflict arises that these procedures cannot manage, we will tell you in writing before we act, so you can make an informed decision.
Accessibility
If anything might make it harder for you to understand our advice or documents, such as your health or another situation, please let us know. We can provide documents in other formats or arrange for someone you choose to join your meetings.
Company details
First Stop Mortgages And Protection NI Ltd. Registered in Northern Ireland, company number NI639180. Registered office: Unit J, Mayfair Business Centre, Portadown, Co. Armagh, BT62 1HA. Telephone 028 3833 2787. Email simon@firststopmortgages.co.uk.