Initial Disclosure Document
Loan.co.uk initial disclosure document
This document is designed to help you consider whether the services we offer are right for you and your circumstances.
• Who regulates us as a business?
• How we will handle your information?
• The type of services and whose products we offer.
• What we will charge you for providing the services.
If at any stage of the process you would like to talk to us, please feel free to contact your Loan Manager on the numbers you have been provided with or contact us here: loan.co.uk/contact-us/
What service do we provide?
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.
Whose products do we offer?
We offer mortgage products from a limited number of lenders. Our lenders provide coverage within the second mortgage market. You can ask us for a list of lenders we do offer mortgages from. We offer regulated mortgage products that can be used for both business and non-business purposes.
What will you have to pay for our services?
Should we arrange a second mortgage for you, you will pay for our services based on our standard fee scale. This fee is for advice, recommendation and arranging your mortgage (including any third party costs and disbursements).
Where a loan is not arranged or funded, no fee will be payable. Our fees will be calculated at a maximum rate of 7% of the loan amount. Fees will be capped based on the chosen lender and loan type. We may also receive a commission from the lender. You will receive a European Standardised Information Sheet (ESIS) illustration when considering a particular mortgage, which will tell you about any fees relating to that mortgage.
Who regulates us?
We are authorised and regulated by the Financial Conduct Authority (FCA). Our Financial Services Register number is 718486 Our permitted business is advising on and arranging regulated mortgage contracts.
You can check this on the Financial Services Register by visiting the FCA’s website www.fsa.gov.uk/register/home.do or by contacting the FCA on 0800 111 6768 (freephone) from 8am to 6pm, Monday to Friday (except public holidays) and 10am to 2pm, Saturdays.
What if you have a complaint?
If you wish to register a complaint, please contact us on:
Head of Operations, Loan.co.uk Ltd, Unit 7 St Stephens Court, 15-17 Saint Stephens Road, Bournemouth, England, BH2 6LA
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?
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 £50,000. Further information about compensation scheme arrangements is available from the FSCS.