|
When negotiating a mortgage
arrangement for you involving family occupation any such loan will fall under UK
financial services regulations. Currently this is via the Financial Services
Authority although Chancellor Osborne is proposing to change the basis of
regulation in the near future. The FSA provisions are designed to give you the consumer
protection in the event of being sold an incorrect product by us. Regrettably
the downside is that the paperwork is doubled for both of us!
Of the 200+ mortgage lenders in the UK only two dozen or so will offer terms to
expatriates. Most of those deals are on unattractive terms. Our A-Z of
Expatriate Mortgages gives a good overview of the market place, and our
regularly updated website
www.International-mortgage-plans.com details the comparable lending terms of
the limited number of providers for this type of mortgage.
Treating The Customer Fairly (TCF), current industry watchwords, is paramount in
our dealings with you and we have always sought to offer our clients the best
possible products. We have always sought to offer our clients the best possible
product/s. Fortunately, due to the longevity of International Mortgage Plans and
the quality of our business, we are often able to negotiate special terms with
lenders and that is the case with the arrangements we are currently making for
you. These terms are exclusive to IMP and unavailable direct or through any
other market place intermediary. We believe that they offer the best possible
market terms. Features are:
-
Competitive interest rate
-
Modest arrangement costs
-
Absence of onerous early
redemption penalties
-
Availability of interest
only product - particularly important to expatriates
-
Calculation of interest on a
daily basis
-
Mortgage terms allowed up to
age 75
-
No conditional insurances.
You will be provided with a Key Facts illustration as required by the FSA. It should be read
carefully and please let us know if there is anything that requires
clarification. If your mortgage
is a regulated loan of if you are not sure of its status, you should consult the
FSA website
www.mortgageslaidbare.info
|
