The Financial Conduct Authority

MortgagX is a trading style of WIS Contractor Mortgages Ltd. WIS Contractor Mortgages Ltd is authorised and regulated by the Financial Conduct Authority (FCA). The FCA regulates financial services in the UK and you can check our authorisation and permitted activities on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register. Our Financial Services Register number is 824411.


Our Services

We are independent mortgage advisers and we will recommend a mortgage product that is suitable for you following an assessment of your personal needs and circumstances. This will include a detailed assessment of affordability.
We will consider all products and lenders that we have access to. This means we will not consider those lenders that are only available by you going direct to them.
Where you are increasing your borrowing we will consider the merits of both a new first charge mortgage and securing this by an additional mortgage on a second charge basis. You may have the option of a further advance from your existing lender, however, we will only consider this where we are able to deal directly with the lender on your behalf.
It may be in your best interests to explore this option and look at the further alternative of an unsecured loan, as these may be more appropriate for you.

The Costs of our Service

We will not charge you a fee for the service we provide to you or the advice we give you.
We do get paid a procuration fee from the lender on completion of any mortgage application.

Our Ethical Policy

We are committed to providing the highest standard of advice and service possible. The interest of our customers is paramount to us and to achieve this we have designed our systems and procedures to place you at the heart of our business.  In doing so, we will:

• be open, honest and transparent in the way we deal with you;

• not place our interests above yours;

• communicate clearly, promptly and without jargon;

• seek your views and perception of our dealings with you to ensure it meets your expectations or to identify any improvements required.

Instructions
We prefer our clients to give us instructions in writing, to aid clarification and avoid future misunderstandings.  We will, however, accept oral instructions provided they are confirmed in writing.


Complaints

If you wish to register a complaint, please write to MortgagX, Unit 10, No. 1, Waterham Business Park, Highstreet Road, Waterham, Faversham, Kent, ME13 9EJ or telephone 0203 011 3227 / email-ifthikar.mohamed@wismortgages.co.uk
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk  or by contacting them on 0800 023 4567.


Compensation Scheme

If you make a complaint and we are unable to meet our liabilities, you may be entitled to compensation from the Financial Services Compensation Scheme.
Further information about the limits applicable to the different product types is available from the FSCS at FSCS different product link.


Client Verification

We may be required to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning.


Credit check and disclosure

In order to process your loan or mortgage application, we may search the files of licensed credit reference agencies, who will keep a record of the search, to confirm your particulars and for the purpose of a credit assessment. This would involve the credit reference agency conducting a soft credit search on all applicants. This does not leave a footprint visible to other lenders.
A record can be kept of such searches which may be used by other lenders in assessing future applications for finance by you and for fraud prevention. These organisations may use this information in the future to help make credit decisions, prevent financial crime and to trace debtors.
Information held about applicants by credit reference agencies may already be linked to records related to one or more of your partners or members of your household. For the purpose of this application you may be treated as financially linked and the application may be assessed with reference to any ‘associated’ records.
We may also, as part of the application request a Lender’s Decision in Principle. This would involve the Lender conducting either a soft or hard credit search on all applicants, which may leave a mark on your credit files and can have a negative impact on your overall credit scores.
It is important that the information you provide is both accurate and honest, and a true reflection of your circumstances. It is your responsibility to provide information in this way to a provider or organisation that provides products and services recommended for you. Failure to disclose relevant information, or change of circumstances, to a provider or Lender may result in your product being invalidated.


Falsehoods or inaccurate information
If false or inaccurate information is provided, or if a reasonable suspicion of fraud or any other criminal offence is identified, details will be shared with fraud prevention agencies, law enforcement agencies and regulatory bodies who may access and use this information. We and other organisations may access and use the information recorded by fraud prevention agencies to prevent fraud and money laundering, for example, when:
Checking details on applications for credit and credit related or other facilities;
Managing credit and credit related accounts or facilities;
Recovering debt;
Checking details of job applicants and employees.
Details of the fraud prevention agencies we work with are available on request.
All transactions relating to our services provided are covered by, and adhere to, the Money Laundering regulations and the Proceeds of Crime Act. Our responsibilities include, but are not limited to, verifying the identity and address of our customers. Identity verification checks may include electronic searches through the Electronic Identification Verification Service, electoral roll and use of credit reference agencies.
We may also require proof of your income and expenditure to satisfy these requirements.


Credit reference agency

We have mentioned that we share your personal information with Credit Reference Agencies, Money Laundering Prevention Services and Fraud Prevention Agencies. In order to process your application, we will perform credit and identity checks on you with one or more Credit Reference Agencies (CRAs).
To do this, we will supply your personal data to CRAs and they will give us information about you. This will include information from your credit application and about your financial situation and financial history. CRAs will supply to us both public and shared credit, financial situation and financial history information and fraud prevention information.
We will use this information to:

• Assess your creditworthiness and whether you can afford to take the product;

• Verify the accuracy of the information you have provided to us;

• Prevent criminal activity, fraud and money laundering; and

• Ensure any offers provided to you are appropriate to your circumstances.

We will continue to exchange information about you with CRAs while you have a mortgage relationship with us. We will also inform the CRAs about your settled accounts. If you borrow and do not repay in full and on time, CRAs will record the outstanding debt. This information may be supplied to other organisations by CRAs.
When CRAs receive a search from us they will place a search footprint on your credit file that may be seen by other lenders.
If you are making a joint application or tell us that you have a spouse or financial associate, we will link your records together, so you should make sure you discuss this with them, and share with them this information, before lodging the application. CRAs will also link your records together and these links will remain on your and their files until such time as you or your partner successfully files for a disassociation with the CRAs.
The identities of the Credit Reference Agencies, their role as fraud prevention agencies, the data they hold, the ways in which they use and share personal data, data retention periods and your data protection rights with the CRAs are explained in more detail at: https://ico.org.uk/your-data-matters/.
Further information and the relevant Privacy Notices of these agencies are available on request. A Credit Reference Agency Information Notice is also accessible from each of these agencies  – following any of these links will also take you to the document:
Equifax : https://www.equifax.co.uk/privacy-hub/crain
TransUnion : https://www.transunion.co.uk/legal/privacy-centre/pc-credit-reference


Changes to Privacy Notice

We reserve the right to update this Privacy Notice from time to time. We will notify you of any material changes by posting the updated Privacy Notice on our website or through other appropriate channels.


Law

This agreement is governed and shall be construed in accordance with the Law of England and the parties shall submit to the exclusive jurisdiction of the English Courts.


Force Majeure

MortgagX shall not be in breach of this agreement and shall not incur any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its control.


Termination

The authority to act on your behalf may be terminated at any time without penalty by either party giving 7 days notice in writing to that effect to the other, but without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date.