Conditions of Use
The Products and Services we will Provide you with
We will advise and make a recommendation for you after we have discussed your needs in relation to protecting you, your family, your home or your business. We advise on non-investment protection products e.g. term assurance, income protection, critical illness and home insurance from a range of providers.
We provide an unlimited mortgage service. We will search the whole of the market place to find the most appropriate mortgage to suit your particular needs. We provide mortgages in the non-business and business markets and for first and second charge loans in both markets.
Alernative Finance Options
Where we provide services in relation to increased borrowing on an existing mortgaged property there may be an alternative option available that may be more appropriate. For example, you may be able to obtain a further advance from your existing lender, or obtain an unsecured loan for the additional funds. Where your existing mortgage is a first charge against the property, a second charge mortgage may be available and where the existing mortgage is a second charge, a first charge loan may be available.
What we will charge for our service
We will not charge a fee for Insurance.
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.
We offer a selection of fee structures dependent on individual circumstances and requirements
No fee will be charged. We will be paid by commission from the lender.
A fee of £250 is payable upon completion, where we provide advice and a subsequent recommendation to obtain a mortgage through a lender that only offers mortgages to customers that apply direct. We will not receive a commission from the lender.
A fee of £500 is payable upon completion of the mortgage. We will also be paid commission from the lender. This fee generally applies to standard mortgages
A fee of 1% of the mortgage loan is payable upon completion, subject to a minimum fee of £1,000. This means that on a mortgage of £50,000 a fee of £1,000 is payable upon completion. As a comparison, on a loan of £200,000 a fee of £2,000 is payable upon completion. We will also be paid a commission from the lender.
An administration fee of £250 is payable upon application.
Second Charge Loans
For second charge loans we offer 2 fee structures dependent on individual circumstances and requirements.
No upfront costs - Crystal Advice will cover the cost of the valuation and other associated costs. A fee of 10% of the loan is payable upon completion, subject to a minimum fee of £1,000. This means that on a loan of £50,000 a fee of £5,000 is payable upon completion. All fees are subject to a maximum fee of £5,000. We will also be paid a commission from the lender.
Upfront costs – Costs such as the valuation are payable by you the client at outset. (A full list of costs will be provided at outset). A fee of 2% of the loan is payable upon completion, subject to a minimum fee of £1,000. This means that on a loan of £20,000 a fee of £1,000 is payable upon completion. As a comparison, on a loan of £200,000 a fee of £4,000 is payable on completion. We will also be paid a commission from the lender.
You will receive a Key Facts Illustration (KFI) / European Standardised Information Sheet (ESIS) when considering a particular mortgage, which will tell you about any fees relating to it.
If we are paid a commission from the lender, you have the right to request information on the levels of commission we will receive from the different lenders in relation to any mortgage product recommended.
Refund of Fees
If we charge a fee and your mortgage does not go ahead, you will receive no refund if we have carried out credit searches / research / product options and sourced a suitable mortgage provider
Who Regulates Us
Crystal Advice Limited is an Appointed Representative of Ingard Financial Limited who is authorised and regulated by the Financial Conduct Authority (FCA) No. 450731. Registered Ofﬁce: Kings Court, 17 School Road, Birmingham, B28 8JG. Registered No. 9932669.
Our permitted business is recommending and advising on regulated mortgage contracts and regulated non-investment insurance contracts.
You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 1116768
Are we covered by the Financial Service 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 advising and arranging is covered for 90% of the claim, without any upper limit.
Mortgage advising and arranging is covered for 100% of the first £85,000 so the maximum compensation is £85,000.
Further information about compensation scheme arrangements is available from the FSCS at www.fscs.org.uk