The following information is to help you decide if our services are right for you. It is important to us that you understand the services we are providing, so please take time to read this document carefully. If you have any questions, please do not hesitate to ask your advisor.
If you are borrowing money against a property that you or a family member will live in, this will be a regulated mortgage. We will provide advice and make a recommendation on the most appropriate product for you after we have assessed your needs and circumstances.
In most cases, our recommendation will involve borrowing against your home from a single mortgage lender. In some cases, it may be more appropriate to take out a second charge mortgage, where additional money is borrowed from a different lender to your existing lender without repaying your existing mortgage. We will advise and make a recommendation for such a product, if appropriate having assessed your needs and circumstances.
For clients over the age of 55 looking to release existing equity from their property (commonly called Equity Release), we will include lifetime mortgages as part of our consideration. We do not consider or recommend home reversion plans.
Mortgages for a property that is to be let out, will normally be a Consumer Buy to Let (CBTL) mortgage or unregulated Buy to Let (BTL) mortgage. We will provide advice and make a recommendation for you after we have assessed your needs and circumstances.
Please note that our recommendations with respect to Buy to Let are restricted to helping you arrange a suitable mortgage. We will not advise you about whether or not the property you plan to buy and let out to tenants, will turn out to be a sound investment.
Health and Protection insurance provides insurance against personal changes in circumstances such as death, illness or inability to work. We will provide advice and make a personal recommendation for you after we have assessed your needs and circumstances. We provide an intermediary service and act on your behalf. We are able to provide advice on the following products:
Life Insurance
Critical Illness Cover
Income Protection
Family Income Benefit
Non-profit Whole of Life
Private Medical Insurance
Accident and Sickness Insurance
We will provide advice and make a personal recommendation for you after we have assessed your needs and demands. We provide an intermediary service and act on your behalf.
We will charge a fee of £495 for the straightforward mortgage application and up to £1495 for the more complex cases. We will also receive commission from the Lender.
You will receive a European Standardised Information Sheet (ESIS) when considering a particular mortgage which will tell you about any fees relating to it. It will also include the actual amount of commission we will receive.
We recommend products based on a fair and personal analysis for term assurance, critical illness, whole of life insurance, family income benefit, income protection, private medical insurance (PMI) and accident and sickness insurance.
We will charge a fee of £495 for the straightforward mortgage application and up to £1495 for the more complex case (payable on mortgage offer).
You will receive a personalised illustration (ESIS) when considering a particular mortgage, which will tell you about any fees relating to it, and the commission we will be paid. You have the right to ask for information on the variation in levels of commission payable by mortgage lenders. You also have the right to request an illustration for any mortgage we offer.
We arrange the policy with the insurer on your behalf. You do not pay us a fee for doing this. We receive commission from the insurer which is a percentage of the total annual premium.
You will receive an illustration that will tell you about any other fees relating to a particular insurance contract.
We have a regulatory duty to advise you of foreseeable risk and recommend ways to mitigate those risks. As part of this process, we may recommend that you work with a trusted partner to do so. We may receive a referral fee from these partners.
You must be honest and transparent in the information you provide. Incomplete or inaccurate information about you, your health, any existing products you hold, your financial history or any property you are mortgaging could impact our advice and result in a less suitable recommendation.
In the worst case, it may result in your mortgage or insurance becoming void, and if considered fraudulent impact your future ability to obtain credit or insurance.
If your circumstances change before the completion of your mortgage or your insurance application you should inform your advisor immediately so they can ensure the advice given is still relevant and make any appropriate adjustments.
You should check all information and documents provided to ensure they accurately reflect your circumstances and expectations. Do not hesitate to contact your advisor if you have questions or concerns.
We are committed to ensuring good advice and outcomes regardless of needs and circumstances, including any disabilities or vulnerabilities. Please let us know of any such circumstances or needs you may have so that we can ensure they are accommodated.
The security and protection of your data is important to us. Full details on how we process and use your information is included in the Data Privacy Notice provided with this document.
If you wish to register a complaint please contact us using any of the follow:
Write to:
Access Financial Services Ltd
Unit 1 Furtho Court
Towcester Road
Old Stratford
Milton Keynes
MK19 6AN
Email: compliance@accessfs.co.uk
Telephone: 0800 999 3939
If we do not resolve the complaint to your satisfaction, you may also contact The Financial Ombudsman Service who can be contacted at: The Financial Ombudsman Service, Exchange Tower, London, E14 9SR. Telephone: 0800 0234567. Email: complaint.info@financial-ombudsman.org.uk
Please note the Financial Ombudsman will not be able to assist where your complaint relates to a BTL mortgage, unless you or a family member live or intend to live at the property.
SNS Mortgage & Financial Services is a trading style of Access Financial Services Ltd, 1 Furtho Court, Towcester Road, Old Stratford MK19 6AN, which is authorised and regulated by the Financial Conduct Authority (FCA). Access Financial Services Ltd’s Financial Services Register number is 301173. The FCA is an independent watchdog that regulates financial services. Access Financial Services Ltd’s permitted business is advising, arranging (bringing about) and making arrangements with respect to regulated mortgage contracts (some of which may be Buy to Let finance) and non-investment insurance contracts.
You can check this on the Financial Services Register by visiting the FCA’s website https://www.fca.org.uk/firms/financial-services-register or by contacting the FCA on 0800 111 6768.
In most cases, advising on and arranging Buy to Let mortgages is not regulated by the Financial Conduct Authority. However, where you or a close relative intend to occupy the property, or if you or a close relative have lived in the property before then these are likely to be regulated by the Financial Conduct Authority.
Our regulated services are covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if you are due compensation from us and we are unable to pay what you are owed. Entitlement to compensation will depend on the type of business and the circumstances of the claim.
Advising and arranging is covered up to a maximum limit of £120,000.
Advising and arranging is covered for 100% of the claim with no upper limit for long term insurance and 90% of the claim with no upper limit for all other types of cover.
Most Buy to Let mortgages are not covered by the FSCS. However if a close family member will be renting the property then you may be covered by the FSCS up to a maximum limit of £120,000.
Further information about compensation scheme arrangements is available from the FSCS website.
If you wish to contact us about the above or any other matter, then please contact us at:
SNS Mortgages & Financial Services Limited, 1 Glenmore Parade, Ealing Road, Wembley, HA0 4PJ
Tel: 020 3411 1455
Email: info@snsmortgagesfs.co.uk
