We recommend that you
print these terms of business for you records.
Data Protection Act 1998 & Legal Information
Mortgage Network online for the purposes of arranging mortgages is a trading name of Susan Manock, LLys Llewelyn Green Ave, Kinmell Bay,Conwy,LL18 5ET, Tel: 01745-351-719
1. Your Personal Information and the Data Protection Act 1998
Mortgage Network online will use the information you provide for the purposes of administration, to source your mortgage, marketing and to analyse your purchasing preferences.
We also obtain data and information by using cookies. A cookie is a piece of software, which is placed on your computer's hard drive. A cookie helps analyse web traffic or lets us know when you visit a particular web page. Cookies allow web applications to respond to you as an individual. The web application can tailor its operations to your needs, likes and dislikes by gathering and remembering information about your preferences. We only use this information for statistical analysis purposes and then data is removed from the system.
A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us. We know that people have concerns about cookies, but we believe that the benefit we both gain from their proper use is worthwhile. You may set your web browser (Microsoft Internet Explorer or Netscape Navigator) to notify you of cookie placement requests or decline cookies completely. You can delete files that contain cookies - those files are stored as part of your Internet browser.
Where necessary we will disclose information to our agents, product providers, regulatory bodies and auditors. For certain products we may search the files of credit reference agencies who will record the search. This information may be shared with other credit grantors and used for credit decisions and where necessary fraud prevention.
We will also provide your information to relevant third parties such as mortgage lenders, the providers of Term Assurance and/or general insurance policies in order to achieve your various requirements. We will treat all your information as confidential, even when you are no longer a client and (unless we are requested to do so by law) will not disclose any such information except where a disclosure is made at your request or with your consent.
Where necessary you consent to our processing 'sensitive data' (for example data relating to your health) for the above purposes.
We may share your information with carefully selected third parties and we or they may wish to contact you for marketing purposes by mail, telephone, email or fax with offers of goods or services or forthcoming events which may interest you.
You have the right to ask for a copy of your information (subject to a £10 fee).
Please write to: The Data Protection Officer, LLys Llewelyn Green Ave, Kinmell Bay,Conwy,LL18 5ET
2. Our aim, as independent mortgage advisors is to provide a high quality client focused service. We appreciate and understand that your mortgage is likely to be the largest financial commitment you will undertake. Our role is to help you understand how a mortgage works and how control of the repayments is essential for prudent money management.
We will seek to reduce the financial burden and where possible allow you to redeem your mortgage earlier. In addition, we seek to provide adequate protection for you and your family.
Throughout our association with you we are committed to giving the highest standard of service and customer care both before, during, and after your mortgage completes.
The Mortgage Code came into effect for intermediaries on 1st May 1998 and is a voluntary Code to which we subscribe. The Code sets minimum standards for good lending and advisory practice to be followed by all lenders and mortgage intermediaries. We enclose a copy of the "You and Your Mortgage" leaflet summarising the Code and explaining what you can expect from us.
Network Data Ltd as a Member of the Network Data Limited (NDL) Network, is registered with the Mortgage Code Compliance Board under the Network Data Limited registration number of 4984588.
We will review the market place to identify the most suitable mortgage product for you.
Under the terms of the Code there are three levels of service available. These are:
a) Full advice and recommendation. b) Information on different types of mortgage products available to allow you to make a choice. c) Information on a single product only, where no advice is given.
We offer all three levels of service. In particular, we provide a full advice and recommendation service in order that we can make an informed decision with you about your new mortgage.
We will also provide you with information relevant to your mortgage needs, covering such items as an explanation of the main repayment methods and the implications of taking out a mortgage. A full list of information can be found in Section 3.2 of the Mortgage Code booklet that is available on request.
During our initial meeting, we will be completing a detailed mortgage questionnaire (a fact find) to enable us to give you appropriate help with the mortgage products available to you.
When you have chosen your mortgage, we will confirm details of the product you have chosen in writing. If you have asked us to give you advice and a recommendation, we will, once we have made our recommendations to you, confirm our advice in writing. You should keep the letter we send you as it will be a record of your choice and our advice, where you have asked for it, and will be confirmed by your lender's formal offer of a loan.
We may require to be paid, by you, in the form of a fee, where appropriate, for the consultation we are about to give you and, in the event that you voluntarily decide to buy any form of insurance, then we may receive commissions from the insurance companies. Any applicable fee will be set by the consultant, and is a result of agreement between yourself and the consultant.
All fees should be paid to this Company and not to the consultant. If you ask us to arrange insurances for you and request us to do so, we will tell you the amount of commission we receive.
For arranging a mortgage, our company may receive fees. Where this occurs, we will tell you in writing. If the fee is below £250 we will confirm that it is up to this amount. If the fee is £250 or more, we will tell you the exact amount. In addition to the fee our company receives, the lender may have also paid other fees for the marketing and distribution of this mortgage. Please refer to the lender's offer letter for further details or contact them direct.
These commissions and payments will be taken into consideration when agreeing any applicable consultation fee.
We will treat your personal information as private and confidential (even when you are no longer a customer) except where disclosure is required by Law, made at your request or with your consent in relation to arranging your mortgage. We will also explain that you have a right of access under the Data Protection Act to your personal records whether held manually or electronically.
The Mortgage Code Compliance Board (MCCB) regulates the Mortgage Code to which we subscribe as part of the NDL Network. As part of the MCCB's and/or NDL's duties, we may be required to provide them with access to customer records and you agree to this. MCCB and/or NDL confirm that such information will only be sought for Code compliance activities and that there will be no breaches of customer confidentiality.
We may wish to contact you for marketing purposes by mail, telephone, email or fax with offers of goods or services or forthcoming events, which may interest you. If you specifically do not wish to be contacted by telephone please tick the box at the foot of this letter.
Our aim is to provide you with a first class professional and confidential service. However, should a complaint arise, we, in conjunction with Network Data Limited, have internal procedures for handling complaints fairly and speedily and in the first instance therefore you should preferably address your concerns in writing to The Mortgage Code Compliance Officer at Network Data Limited, Membership Department, Link House, 6 Chertsey Road, Byfleet, Surrey, KT14 7BH or telephone 01932 338059. In the unlikely event that your concerns cannot be resolved to your satisfaction, you have the right to ask the Chartered Institute of Arbitrators to review your case. You can write to them at The Mortgage Code Arbitration Scheme, The Chartered Institute of Arbitrators, 12 Bloomsbury Square, London WC1A 2LP or telephone 0207 421 7444.
This Letter relates solely to Mortgage and related matters and not to Investment Services regulated by the Financial Services Authority.
Our Company fully supports the Mortgage Code copies of which are available on request. Certain types of loan must be secured by a mortgage on your property. Written quotations are available on request.
All loans are subject to a satisfactory appraisal of status and financial standing and are only available to persons aged 18 or over.
We recommend that you print these terms of business for you records.
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR OTHER LOAN SECURED ON IT.