Keyfacts about our service
This is an important document for you to read
About our Services and Costs
Allied House
Bryn Lane
Wrexham
LL13 9UT
1. The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important document as it explains the service you are being offered and how you will pay for it.
2. Whose products do we offer?
Insurance
We offer products from a range of insurers for non-investment insurance contracts covering pure protection such as term assurance, income protection and critical illness cover.
We only offer products from a limited number of insurers for household insurance, Accident Sickness &
Unemployment and other forms of Personal Lines Insurance. Ask us for a list of the insurers we offer
insurance from.
We can offer products from a single insurer for non-investment insurance contracts. We only offer our own products for non investment insurance contracts
Mortgages
We are not limited in the range of mortgage products that we will consider for you, this is applied to both first
charge legal mortgages as well as second charge regulated mortgage contracts. We offer a comprehensive
range of mortgages from across the market, but not deals that you can only obtain by going direct to a lender.
We only offer mortgages from a limited number of companies.
We only offer mortgages from a single lender.
3. Which service will we provide you with?
Insurance
We will provide you with advice on non-investment protection products e.g. term assurance, income protection
and critical illness from a range of insurers, which is based on a ‘fair and personal’ analysis of the market.
We will advise and make a recommendation for you after we have assessed your needs, Household insurance,
Accident Sickness and Unemployment and other forms of Personal Lines Insurance.
You will not receive advice or a recommendation from us for non-investment insurance contracts. We may ask
you some questions to narrow down the selection of products that we will provide details on. You will then need
to make your own choice about how to proceed.
Mortgages
We will advise and make a recommendation for you after we have assessed your needs.
You will not receive advice or a recommendation from us. We may ask some questions to narrow down the
selection of products that we will provide details on. You will then need to make your own choice about how to
proceed.
4. What will you have to pay us for our services?
Initial Consultation
We will provide you with an initial consultation to help us understand your financial objectives and to discuss how we can support you in working towards these. We will also discuss and agree the cost of our services both initially and throughout our relationship with you.
The initial consultation is provided free of charge and without obligation.
Following our Initial Consultation, should you decide to proceed with our recommendations, we offer a variety of methods by which we can be remunerated. So that you can select the method that best suits your needs we will discuss your payment options with you and answer any questions you have.
We will not charge you until we have agreed with you how we are to be paid. We will also tell you if you have to pay VAT and if there are other costs that might arise in connection with the services we provide to you.
Protection Business and General Insurance
We will provide you with a personal and financial review prior to making our recommendation to you.
It is important that you know we act as an intermediary on behalf of you, the customer.
Should you accept our recommendation, we will arrange the implementation of this for you. The reasons for our
recommendations will also be provided to you in a written report.
We do not charge a fee for our General Insurance and Protection services.
We may also be paid commission from the product provider which we will make you aware of during our advice meetings.
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy
before we carry out any business for you.
Mortgages
Following the initial meeting to assess your mortgage needs if you ask us to do so, we will research the market and prepare and present our report along with our recommendations, you are under no obligation to proceed with us any further following the presentation of our report.
We do not charge a fee for our mortgage services, if you ask us to arrange a mortgage for you we may receive a procuration fee from the mortgage lender.
In exceptional circumstances the work involved may be greater than anticipated in which case we reserve the right to charge additional fees. These may be based on an hourly rate or based on a fixed fee depending on the nature and complexity of the additional work.
If it becomes necessary to charge additional fees, we will advise you beforehand and not commence any additional work until we have explained this to you and you have agreed to the additional fees.
You will receive a European Standardised Information Sheet or Key Facts Illustration Plus when considering a particular mortgage, which will tell you about any procuration or other fees relating to it.
If we charge you a fee and your mortgage does not go ahead, you will receive a full refund if the application is unsuccessful unless this is due to incorrect or misleading information provided by you or the mortgaged property being unsuitable for reasons not apparent on application.
5. Who regulates us?
North Wales Mortgages, Wrexham Mortgage Centre, Chester Mortgage Centre and Corwen Mortgage Centre are trading styles of Redfield.
Redfield is authorised and regulated by the Financial Conduct Authority. Our FCA registration number is 313585.
Our permitted business is to provide investment advice and arrange life assurance, pensions, collective investments (e.g. unit trusts, investment trusts and OEICs), individual savings account, Mortgages and general insurance.
You can check this on the FSA Register by visiting the FCA’s website www.fca.gov.uk/register/home.do or by contacting the FCA on 0845 606 1234.
6. What do you do if you have a complaint?
If you wish to register a complaint, please write to Redfield, Allied House, Bryn Lane, Wrexham, LL13 9UT or
telephone 01978 661795.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
7. Are we covered by the 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 on the type of business and the circumstances of the claim.
Insurance
Insurance advising and arranging is covered for 90 per cent of the claim, without any upper limit.
Mortgages
Advising on or arranging house purchase finance: protection for 100% of £50,000.
Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk/consumer.