1. Introduction
These are First Select Financial Solutions Ltd t/as First Select Mortgage Brokers Terms & Conditions. They tell you:
- The rules for using our services
- Our Fee Structure
- What you can expect from First Select Financial Solutions Ltd
- Your rights and responsibilities
2. When These Terms Apply
Please ensure you read these terms before using our services. By using our services, you are agreeing to these terms. The latest version always applies, and we’ll usually only make updates when we offer a new service, change how we provide a service, or have to comply with a new legal requirement.
3. What Do We Mean by “Services”?
Anything offered by First Select Financial Solutions Ltd including advising and arranging of mortgages and loans, arranging insurance and any advice and work in bringing about a regulated or unregulated financial solution.
4. Terminology
For the purpose of these terms & conditions the following words have the following meanings:
- “Us/We/Our” refers to First Select Financial Solutions Ltd.
- “You” refers to you: the customer (the person or organisation for whom we agree to carry out work).
- “Adviser” refers to the representative(s) appointed by First Select Financial Solutions Ltd to carry out work.
We reserve the right to refuse or decline to undertake any work. We reserve the right, at our absolute discretion, to designate the adviser who will represent us.
5. Advice Fee
At our discretion, we may charge a fee for our work in advising, searching and arranging a mortgage or loan for our clients. The precise amount will depend on your circumstances, but we estimate the fee will be £295. In some cases at our sole discretion we may waive the fee. In all events we will confirm the exact fee amount to you in writing before you making a decision to proceed or not.
The Advice Fee becomes payable at our sole discretion during the application process. Depending on your circumstances, the fee may be payable on enquiry and prior to an application. Typically the Advice Fee is payable when you receive your mortgage offer, which is a binding offer from the mortgage lender to grant you the mortgage (our work is effectively complete).
We do not charge any fees in relation to arranging insurance contracts. We will receive a commission from the insurer.
6. Commission & Procuration fees
Like all mortgage brokers, we usually receive a commission / procuration fee from the mortgage lender or loan provider that we find for you. This is standard practice across the UK mortgage industry. For regulated loans this amount will be disclosed in writing and be published in the loan documentation.
7. Offers & Incentives
On an ongoing basis, at our discretion, we promote a selection of offers and incentives, these will be clearly defined including any specific terms & conditions. Offers and incentives may only be used in conjunction with each other at our discretion.
8. Cancellation
If you wish to cancel any application with us, we reserve the right to charge our Advice Fee in full for the work completed to that point. This fee will be £295. We reserve the right to make an additional reasonable charge if significant time and resource has been undertaken to the point at wish you inform us of your desire to cancel.
9. General
These terms and conditions may not be released, discharged, supplemented, interpreted, varied or modified in any manner except by an instrument in writing signed by a duly authorised representative and you. Our terms and conditions will prevail over any terms and conditions used by you or contained, set out or referred to in any documentation sent to us by you. By entering into a contract with us you agree irrevocably to waive the application of any of these terms and conditions.
These terms and conditions, and all contracts awarded between us and you, shall be governed and construed in accordance with English law and shall be subject to the exclusive jurisdiction of the English law.
First Select Financial Solutions Ltd t/as First Select Mortgage Brokers is a company incorporated in England and Wales with registered number: 1003376.
Our registered office is: 3 Palatine Crescent, Didsbury, Manchester, M20 3LL.