To ensure the best experience for our customers we have enabled website cookies. Please click continue if you wish to accept our cookies.
To find out how we use cookies to improve your experience please Click Here

Disclosure Document

Updated - 3rd February 2017

The Moneyhub Limited is authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 649189 You can check this on the Financial Services Register by visiting the FCA's website www.fca.org.uk/register or by contacting the FCA on 0800 111 6768. The FCA is the independent watchdog that regulates financial services. Use this disclosure document to decide if our services are right for you. It explains the service we offer and how you will pay for it.

1. OUR IDENTITY AND SERVICE

The Moneyhub Limited
Thamesgate Business Centre,
Thamesgate House,
33-41 Victoria Avenue,
Suite 17-27 First Floor,
Southend-on-Sea,
Essex, SS2 6DF

Our service and permitted business includes advising and arranging mortgages and insurance products as stated below:

Insurance

You will not receive advice or a recommendation from us for 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. We can offer products from a range of insurers including Mortgage Life Insurance, Critical Illness Cover. For Income Protection and Home Insurance Products we only offer a single insurer Paymentshield.

Mortgages

We will advise and make a recommendation to you on residential mortgages, including bridging residential regulated loans, second charge regulated mortgages, further advances and unsecured lending, after we have assessed your needs. 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.

Alternative Finance Options

Note: If you are looking to increase your borrowing on an existing mortgage then there are a few options available to you, including:

  • Further advance with your existing Lender;
  • Second charge regulated mortgage;
  • Unsecured lending, such as a personal loan.

We provide advice on all of the above and will take into account all options available before making a recommendation on the most suitable route.

Bridging Mortgages (Regulated)

We will advise and make a recommendation to you on bridging residential regulated mortgages. We offer a comprehensive range of lenders across the market.

Bridging Mortgages (Unregulated)

You will not receive advice or a recommendation from us for unregulated bridging mortgages. 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.

Commercial Mortgages

You will not receive advice or a recommendation from us for commercial mortgages. 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.

Commercial Bridging Mortgages

You will not receive advice or a recommendation from us for commercial bridging mortgages. 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.

2. SERVICE COSTS

Insurance

We do not charge a fee for our service as we are paid commission from the Insurer.

Mortgages - 1st Charge

Good Credit History - A fee of up to 1% of the mortgage arranged with a minimum fee of £695 payable on offer of the mortgage. For example a £70,000 mortgage with an arrangement fee of 1% could result in a fee charged of £700. We will also be paid commission from the lender.

For mortgage purposes we class Good Credit History as no missed payments on any Credit/Loans/Mortgages over the last 3 years and any Defaults / CCJ's must be satisfied.

Poor Credit History - A fee of 1% of the mortgage arranged with a minimum fee of £1,495 payable on offer of the mortgage. For example a £150,000 mortgage with an arrangement fee of 1% would result in a fee charged of £1500. We will also be paid commission from the lender.

Mortgages - 2nd Charge

An administration fee of up to £495.00 may be charged and fees will be charged on a sliding scale as detailed below:

Loan AmountFees
£6,000 to £10,00015% (Up to £1,500)
£10,001 to £15,00015% (Up to £2,250)
£15,001 to £20,00012.5% (Up to £2,450)
£20,001 to £25,00012% (Up to £2,950)
£25,001 to £29,00011% (Up to £3,150)
£29,001 to £39,00010% (Up to £3,495)
£39,001 to £49,0009% (Up to £3,495)
£49,001 to £59,0008% (Up to £3,495)
£59,001 +8% (Up to £3,495)
Alternative Finance Options

Unsecured lending and Further advance with your existing lender - No Fee, we will be paid by the lender.

Bridging Mortgages (Regulated and Unregulated)

An administration fee of up to £495.00 may be charged and a fee of 1% of the loan arranged with a minimum fee charged of £1,995. For example a £200,000 mortgage with an arrangement fee of 1% would result in a fee charged of £2,000. We will also be paid commission from the lender.

Commercial Mortgages

An administration fee of up to £495.00 may be charged and a fee of 1% of the mortgage arranged with a minimum fee of £2,000 payable on offer of the mortgage. For example a £200,000 mortgage with an arrangement fee of 1% would result in a fee charged of £2,000. We will also be paid commission from the lender.

Cancellation Charges

If The Moneyhub has paid Valuation and BSQ fees on your behalf and you choose not to proceed, then you will be liable to refund The Moneyhub the full valuation and BSQ fees paid and the administration fee of £495.

Refund Of Fees

No refunds.

ESIS

For all mortgages you will receive a European Standardised Information Sheet (ESIS) when considering a particular mortgage which will tell you about any fees relating to it. It will also include the actual amount of commission we will receive.

3. COMPLAINTS

It is our intention to provide you with a high level of customer service at all times. If there is an occasion when we do not meet these standards and you wish to register a complaint please contact us by:

Address - Complaints Department, The Moneyhub Limited, Thamesgate Business Centre, Thamesgate House, 33-41 Victoria Avenue, Suite 17-27 First Floor, Southend On Sea, Essex, SS2 6DF or call us on 0203 725 5830.

If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service www.financial-ombudsman.org.uk.

4. FINANCIAL SERVICES COMPENSATION SCHEME

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.

Insurance

Insurance advising and arranging is covered for 90% of the claim, without any upper limit. Where the firm has not taken steps and caused a contract not to be effected by an insurer on a Pure Protection Policy or General Insurance claim arising from the death or incapacity of the policyholder owing to injury, sickness or infirmity, then 100% of the claim is covered.

Mortgages

Regulated Mortgage advising and arranging is covered up to a maximum limit of £50,000.

Further information about the compensation scheme arrangements is available from the FSCS.


End of Disclosure Document