1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. It requires us to give you this document. Use this information to decide if our services are right for you.

2.Whose Mortgages do we offer?

 We offer mortgages from the whole market.
? We only offer mortgages from a limited number of lenders.
? We only offer mortgages from a single lender.

3.Which service will we provide you?
? We will advise and make a recommendation for you after we have assessed your needs.
? You will not receive advice or a recommendation from 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.
 
4. What will you have to pay us for this service?
? No fee, we will be paid commission from the lender.
? A fee only. We will charge you a fee of 0.5% of the total loan value, subject to a minimum fee of £650.00, which will be paid by you when we submit your application form to the lender e.g. if we arrange a £80,000 mortgage the fee payable by you is £650.
? A fee of £250 will be charged for processing the mortgage when we submit your application form to the lender. In addition to this we will be paid full commission from the lender.
You will receive a key facts illustration, which will tell you about any fees relating to a particular mortgage.

5. Refund of fees
If we charge you a fee, and your mortgage does not go ahead, you will receive:
? A full refund of your fee if the lender rejects your application as a result of our failings.
? No refund at any time.

6. Who regulates us?
Ocean Financial Services Limited is an appointed representative of Owen & Associates 33 Gay Street Bath BA1 2NT which is authorised and regulated by the Financial Services Authority. Our FSA register number is 146808.
Our permitted business is advising on and arranging mortgages. You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register/ or by contacting the FSA on 0845 6006 1234.

7. What to do if you have a complaint
If you wish to register a complaint, please contact us either:
…in writing to Geoff Owen at Owen & Associates, 33 Gay Street Bath BA1 2NT or
…by phone on (01225) 429479
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

8. 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.
Mortgage advising and arranging is covered for 100% of the first £30,000 and 90% of the next £20,000, so the maximum compensation is £48,000. Further information about compensation scheme arrangements is available from the FSCS.

? I do not wish to receive any further promotional information with respect to my mortgage arrangements either in writing or by phone.
? I wish to receive future promotional information with respect to my mortgage arrangements either by phone, post or email.
? I only wish to receive future promotional information with respect to my mortgage arrangements by post.
 
Client Money:
Owen and Associates does not handle client’s money

The Advice Process:
During our initial meeting, we will be completing a detailed mortgage questionnaire to enable appropriate advice to be given on the 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. Once we have made our recommendations to you, we will confirm our advice in writing. This should be kept by you along with the Key Features Illustration and all other product specific documentation, as it will provide a record of the transaction. You need to be aware that Owen & Associates do not, in conducting its Mortgage mediation activities, act contractually on your behalf. The Consumer Credit Act 1974 (CCA) will not apply (and if, these rights have been previously referred to, that the rights or requirements set out in these communications will not apply.

Personal Information:
We will treat all your personal information as private and confidential (even when you are no longer a customer) except where disclosure is made at your request or with your consent in relation to arranging your mortgage. You have a right of access under the Data Protection Acts 1998 to your personal records held on our files. As part of the FSA duties we may be asked to provide them with access to our customer records in order that they may carry out an audit of our activities. The FSA’s ability to inspect customer records promotes best practice in our industry and ensures that you continue to receive the best possible service from us. If we disclose your personal information to the FSA then it has been agreed with us that it will only use it for the purpose of compliance with their requirement and not for any other reason. If you would not like us to disclose any of your personal information to FSA then please write to us informing us of this within 21 days of today’s date.

CLIENTS DECLARATION

I have read and understood the Initial Disclosure Document and Terms of Business, which I accept.

Signed    Dated    Signed    Dated      
  

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Please sign and return a copy of this letter and return to
Ocean Financial Services Ltd, 187-189 Whiteladies Road, Clifton Bristol BS8 2RY
Consumer Credit Licence No 435317