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Initial disclosure document (IDD)

We are required by the FSA (Financial services Authority) who regulate financial services to give you details of the following information. You may use this to decide if our services are right for you. 

First charge Mortgages – In certain circumstances you may receive a re-mortgage offer after applying for the secured loan you require. You can consider this mortgage offer along with the secured loan offer.

Mortgages are secured on property. All loans are subject to status, property value and type.

We offer mortgages from the whole of the market.

Our service

We do not give advice when offering mortgage products, Loans4 acts as an introducer to independent mortgage brokers who will help advise you on choosing a mortgage. At the time of you mortgage offer by an independent mortgage broker, a full Key Facts Illustration (KFI), will be provided to you by the mortgage broker to help you choose and arrange the mortgage. We strongly recommend you also seek independent financial advice from an independent financial advisor.

Fees

Mortgage advice is free up to the point of completion whereupon an average fee of between 0.5% and 5% of the loan amount will be charged, depending on your circumstances.

Depending on which mortgage product you choose, there may be an arrangement fee. This fee will be deducted from, or added to, the mortgage advance that the lender has agreed to lend to you when completion of your mortgage takes place. When an arrangement fee is payable, you will be informed at the earliest opportunity, your specific signed authority will be required. Loans4 Limited may also receive a payment from these lenders with whom mortgages are placed, the amount of this payment will also be disclosed to you at the earliest opportunity. This information will help you decide if you want to proceed.

Loans4 limited acts solely as an introducer to mortgage intermediaries who are FSA approved and regulated in the conduct of mortgage and insurance business.

The overall cost for comparison on residential mortgages is Typical 7.3% APR

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Insurances (Non investment) – ie payment protection insurance

As part of your loan or mortgage offer you may choose to select payment protection to cover your repayments in the event of unforeseen circumstances which may make it difficult for you to be able to make your loan or mortgage repayments.

Details of the payment protection insurance policy will be sent to you along with your loan or mortgage offer.

You will not receive advice or a recommendation from us. We offer products from a range of insurers. A list of the range of insurers we select from will be sent to you at the same time as your loan or mortgage offer is sent to you.

You will then be able to decide if the insurer and cover are right for you.

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Which service will we provide ?

You will not receive advice or recommendations form us. We may ask some questions to narrow down the selection of products that we will provide details on. You will then need to make your own choice about how to proceed.

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What do you do if you have a complaint ?

We aim to offer the highest possible service and care to our customers; however if for any reason you feel this has not been the case, you may wish to register a complaint regarding the service you have received from us. In order to do this please contact us in writing, to the person/address below:

The compliance manager

Loans4

Fairgate House

Kings Road

Birmingham

B11 2AA

We will respond to your complaint promptly and no more than 7days from receipt.

When responding to your complaint we shall also provide you with a copy of our full complaints procedure and also details for both the Financial Ombudsman Service and the Financial Services Authority.

In the unlikely event we are unable to resolve your complaint; you may wish then to refer your complaint to one of these two independent regulators.

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Ownership

Loans4 Limited is a wholly owned private limited company and does not form part of any other company/organisation.

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