First Choice Finance - Mortgage Broker First Choice Finance Compare Home Owner Loans
First Choice Finance - Mortgage BrokerCompare Home Owner Loans



You are in good hands - First Choice was established back in 1988 and so has banked a wealth of experience and knowledge.  This longevity enables us to try and ensure that our customers get the funds they require, when they need them and for the purpose that they wish to use them, through an affordable loan or mortgage. We believe in transparency and therefore think it is important that you receive our Terms Of Business early on.

What Happens Next?

  • Our finance team are waiting to progress your enquiry, this is without any obligation and the aim is to create a confidential free quotation specific to your loan or mortgage. This is to enable the releasing of your funds to you as soon as possible, whilst making sure you are happy with the finance offered.
  • In most instances you will receive an early update by telephone, either a call or text within 24 hours. In any case please call us at your earliest convenience for free from a mobile or landline on 0800 298 3000 from 9am to 7.30pm Monday to Thursday, or 9am to 5.30pm Friday, to discuss your options and hear the figures that relate to your specific finance product.
  • Where we believe we can help facts and figures will be discussed confidentially over the telephone and/or in writing.  If and when you are happy to proceed your enquiry will be processed. Once accepted the funds will be made available to you by our lenders in line with the agreed terms and conditions. 

Now as we all know technology is not perfect - so if for any reason you are not contacted it will probably be because there was either a system error or some of the information was stripped out by your browser (depending on your settings). Therefore please make a note now of the following means of getting in touch with us and use them if you do not hear anything or if you need to speak to us for any reason. It is often quite difficult to get hold of customers as you are busy, so call us as soon as you convenient and speak to our finance team who are waiting to move your enquiry forward.


IMPORTANT NOTE:- Applying to multiple companies in a short time frame can have a negative impact on your credit availability, so we suggest you give us the opportunity to let you know what is on offer before you make further applications.

TERMS OF BUSINESS FIRST CHOICE FINANCE
First Choice Finance is a trading style of First Choice Funding Limited which is a mortgage and credit intermediary established in 1988.


1. The Financial Conduct Authority (FCA) & Mortgage Credit Directive (MCD) 

The FCA is the independent regulator that regulates U.K. financial services companies. The Mortgage Credit Directive sets out the rules by which firms carry out regulated activities. We are directly authorised by the FCA and are a Mortgage Credit Directive intermediary. Our procedures are in place to comply with the Mortgage Credit Directive rules effective 2016.
We provide this document to our customers to clearly state our scope of services to them.

You should use this information to decide if our services are right for you. If you have any questions on the content or do not understand any components please call us for free on 0800 298 3000 for further explanation.


2. Which products do we offer? 
Insurance
  For non-investment life insurance & income protection and for buildings & contents insurance we only offer products from a limited number of insurers. We can provide you with a list of these. With your consent as an alternative we may offer to refer you to an external company for these insurance products.
 

We do not offer private medical or health insurance products. With your consent we may offer to refer you to an external company for this type of insurance.

Mortgages, Remortgages & Second Mortgages (Also referred to as Secured Loans)
 

We offer a comprehensive range of mortgages from across the market, but not deals that you can only obtain by going direct to a lender. Our lenders are listed within this document.

 

We are tied to certain second mortgage providers. We offer second mortgages from a limited number of lenders. Our lenders are listed within this document.

Equity Release Products
 

We offer lifetime mortgages from a limited number of lenders. Our lenders are listed within this document.

 

We do not offer home reversion plans or home purchase plans. This is where you sell all or some of your property to a reversion scheme or purchase plan provider.


3. Which service will we provide you with? 
Insurance
 

If we provide the advice we will make a recommendation for you after we have assessed your needs for life insurance and / or income protection.

 

You will not receive advice or a recommendation from us for Buildings and Contents Insurance. 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.

Mortgages, Remortgages & Second Mortgages (Also referred to as Secured Loans)
 

We will advise and make a recommendation for you on a mortgage, remortgage or second mortgage after we have assessed your needs.

Equity Release Products
 

We will advise and make a recommendation for you on a lifetime mortgage after we have assessed your needs.


4. What will you have to pay us for our services & will we receive a commission?
Insurance
 

We will not charge you a fee for advising on non-investment life insurance or income protection nor will we charge a fee for helping you select buildings and / or contents insurance. You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.

We will be paid a commission by the insurer or intermediary. This will vary by company and product taken.

 

Mortgages, Remortgages & Second Mortgages (Also referred to as Secured Loans)
 

For mortgages and remortgages a fee of 1.7% of the mortgage amount will be payable upon completion, with a minimum of £985 and a maximum of £2975. For example on a mortgage of £85,000 a fee of £1,445 would be payable upon completion.

We will also be paid a commission from the lender. This varies by lender therefore the exact amount will be detailed to you in the ESIS (mortgage illustration) provided to you by the lender before the mortgage completes.

 

For second mortgages / secured loans a fee of 10% of the secured loan amount will be payable upon completion, with a minimum of £985 and a maximum of £2975. For example on a secured loan of £15,000 a fee of £1,500 would be payable upon completion.  

We will also be paid a commission from the lender. This varies by lender therefore the exact amount will be detailed to you in the ESIS (mortgage illustration) provided to you by the lender before the loan completes.

You will receive a European Standardised Information Sheet (ESIS), which is your mortgage illustration, when considering a particular mortgage - this will tell you about any fees and commissions relating to it.

Equity Release Products
 

For lifetime mortgages a fee of 1.7% of the mortgage amount will be payable upon completion, with a minimum of £985 and a maximum of £2975. For example on a release of £50,000 a fee of £985 would be payable upon completion.

We will also be paid a commission from the lender. This varies by lender therefore the exact amount will be detailed to you in the ESIS (mortgage illustration) provided to you by the lender before the loan completes.

You will receive a European Standardised Information Sheet (ESIS), which is your mortgage illustration, when considering a particular mortgage - this will tell you about any fees and commissions relating to it.


5.Who are our lenders? 

MORTGAGES: Melton Mowbray BS, Virgin Money, National Westminster Bank plc, Clydesdale Bank, Halifax, Kensington Mortgage Company, Masthaven Finance, Mortgage Trust, Accord Mortgages, Aldermore Bank plc, National Counties BS, Newcastle BS, Fleet Mortgages, Norton Home Loans, BM Solutions, Paragon Mortgages, Precise Mortgages, Principality BS, Skipton BS, Stafford Railway BS, Together, Buckinghamshire BS, Furness BS, Chorley BS, Dudley BS, Hanley Economic BS, Kent Reliance, Cheltenham & Gloucester, Chelsea BS, The Woolwich, Scottish Widows Bank, Santander UK plc.

SECOND MORTGAGES: Evolution Money, Finsec, Masthaven Secured Loans, Precise Mortgages, Spring Finance, Norton, Together, Step One Finance.

LIFETIME MORTGAGES : Hodge Lifetime, Aviva, Just Retirement, Liverpool Victoria, Legal & General, More 2 Life, Pure Retirement, Retirement Advantage.


6. What to do if you have a complaint & who regulates us?


If you wish to register a complaint, please contact us:

In writing: Write to First Choice Finance, The Old Courtyard, 103 Buxton Rd, High Lane, Stockport, SK6 8DX.

By phone: Telephone 01663 761 600.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
First Choice Finance is a trading style of First Choice Funding Limited, The Old Courtyard, 103 Buxton Road, Highlane, Stockport, SK6 8DX and is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 302981.

Our permitted business is advising on and arranging mortgages and non-investment insurance contracts as a mortgage credit directive (MCD) adviser firm.
You can check this on the FCA’s Register by visiting the FCA’s website www.fca.gov.uk/register/ or by contacting the FCA on 0845 606 1234.


7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.

Investment

Most types of investment are covered for 100% of £50,000.

Insurance

Insurance advising and arranging is covered for 90% of the claim with no upper limit [or] For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.

Equity Release Products
Equity release advising and arranging is covered for 100% of £50,000.
Further information about compensation scheme arrangements is available from the FSCS.

Warnings & Message from the Financial Conduct Authority:
With regards to equity release products
Think carefully about this information before deciding whether you want to go ahead.
If you are at all unsure about which equity release product is right for you, you should ask your adviser to make a recommendation.
With regards to mortgages, remortgages and second mortgages:
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. 
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE



THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Security is required on immovable property.



Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home

First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.


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