about our services
First Rate Mortgage Services

168 Huddersfield Road
Liversedge
West Yorkshire WF15 7BZ
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?
   Insurance
We offer products from a range of insurers for None Investment Life Insurance including Term Assurance, Family Income benefit, Mortgage Protection and Permanent Health Insurance. 

We only offer products from a limited number of insurers for None Investment Life Insurance.
We only offer products from Paymentshield Ltd for Buildings and Contents Insurance and Mortgage Payment Protection Insurance.
   Mortgages
We offer mortgages from the whole market.
We only offer mortgages from a limited number of lenders.
We only offer mortgages from a single lender.
   3. Which service will we provide you with?
   Insurance
We will advise and make a recommendation for you after we have assessed your needs for None Investment Life Insurance, Buildings and Contents Insurance and Mortgage Payment Protection Insurance.
You will not receive advice or a recommendation from us for None Investment Life Insurance, Buildings and Contents Insurance and Mortgage Payment Protection Insurance.  We may ask some questions to narrow down the selection of products that we will provide information upon. You will then need to make your own choice about how best 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 information upon. You will then need to make your own choice about how best to proceed.
   4. What will you have to pay us for our services?
   Insurance
We do not charge a fee for advising on None Investment Life Insurance, Buildings and Contents Insurance and Mortgage Payment Protection Insurance.  If you pursue our recommendations we will retain any commission we may receive from insurance companies. 
We charge a fee for advising on insurances.
You will receive a quotation that will tell you about any other fees relating to any particular insurance policy.
   Mortgages
No Fee. We will be paid a commission from the recommended lender.

A Broker Administration Fee for arranging the mortgage is payable upon  Legal Completion – this fee ranges from £195* to £695 dependent upon the case type (confirmed via Instruction/Fee Agreement signed at initial Fact Find Meeting). If you pursue our recommendation we will retain any commission we may receive from the lender. All fees are post completion and therefore not refundable.
* This discounted £195 fee is only available to first time buyers where FRMS appoint the solicitor – a more representative fee would be £295

A total fee based alternative to the above with all commission earnings from our recommendations being refunded or ‘sacrificed’. This service is available with a fee of 1.25% on the first £100,000 and 0.75% on any additional borrowings. There is a minimum fee of £995 for this service irrespective of loan size of which £495 is payable up-front (non-refundable) with any balance due on legal completion. All post completion fees are not refundable. Refunded commissions will be paid on receipt.
You will receive a key facts illustration when considering a particular mortgage, which will tell you about any fees relating to it.
   5. Who regulates us? 

First Rate Mortgage Services, 168 Huddersfield Road, Liversedge, West Yorkshire, WF15 7BZ is authorised and regulated by the Financial Services Authority. Our FSA Register number is 302518. 
Our permitted business is advising on and arranging mortgages, none investment life insurance and general insurance.

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.
   6.  What to do if you have a complaint 

If you wish to register a complaint, please contact us:
In writing: Write to First Rate Mortgage Services, 168 Huddersfield Road, Liversedge, West Yorkshire, WF15 7BZ.
By phone: Telephone 01924 400221.

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