Initial Disclosure Document

It is important that you read this document thoroughly as it confirms important regulatory information about us, the services that we offer, the costs involved and the protections that you have as a consumer when dealing with us. If you are unsure about any of the information contained in this document you should contact us immediately for further help and guidance.

By choosing to transact business with us, you are agreeing to accept and be bound by the terms included in this document.

 

How we are regulated

Altius Capital Ltd is authorised and regulated by the Financial Conduct Authority (FCA). The FCA regulates financial services in the UK and you can check our authorisation and permitted activities on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register.  Our Financial Services Register number is 588472.

 

Our services

For Mortgages we are independent mortgage advisers and we will recommend a mortgage product that is suitable for you following an assessment of your personal needs and circumstances. This will include a detailed assessment of affordability.

We will consider all products and lenders that we have access to. This means we will not consider those lenders that are only available by you going direct to them.

 

Where you are increasing your borrowing we will consider the merits of both a new first charge mortgage and securing this by an additional mortgage on a second charge basis. You may have the option of a further advance from your existing lender, however, we will only consider this where we are able to deal directly with the lender on your behalf.

It may be in your best interests to explore this option and look at the further alternative of an unsecured loan, as these may be more appropriate for you.

For Non-investment protection contracts we are an intermediary and will act on your behalf when providing advice and making our personal recommendation(s) to you. We will do this based on a fair and personal analysis of insurers for term assurance, income protection, critical illness.

For general insurance contracts we are an intermediary and will act on your behalf when recommending an insurer based on your demands and needs from a fair analysis of the market. The insurers we consider will be listed to you when we carry out our research. It will be your responsibility to ensure the policy meets your demands and needs for building and/or contents, private medical insurance, accident sickness and unemployment.

 

The costs of our services

Mortgages

     We will receive commission from lenders.

Different lenders pay different amounts depending on different commission models.

For transparency we work with the following commission models: fixed fee and or a percentage of the amount you borrow and rate for risk (this is based on the risk profile of the business).

Further details of the commission model, calculation and amount will be disclosed to you throughout your customer journey.

 

Non-investment protection and general insurance contracts

We do not charge a fee as we will receive commission from the provider/insurer after the policy has been placed on risk.

 

Our ethical policy

We are committed to providing the highest standard of advice and service possible. The interest of our customers is paramount to us and to achieve this we have designed our systems and procedures to place you at the heart of our business.  In doing so, we will:

• be open, honest and transparent in the way we deal with you;

• not place our interests above yours;

• communicate clearly, promptly and without jargon;

• seek your views and perception of our dealings with you to ensure it meets your expectations or to identify any improvements required;

• where possible we will adapt our communication means with you according to your needs. Please discuss this with us.

 

How we will operate

During our initial consultation we will complete a client questionnaire (fact find) to enable us to better understand your circumstances and your needs; this enables us to give appropriate advice on your mortgage, protection and insurance needs. A copy of this questionnaire is available for you to review upon request.

We will subsequently conduct research to establish what products are most appropriate for your needs and make these recommendations to you. These recommendations will be confirmed in writing as the advice we provided.

You will also be provided an illustration regarding the product(s) recommended.

 

Cancellation rights

Depending on the product provided you will have different cancellation rights; these will be explained to you as part of our advisory process and will be disclosed to you by the provider in their communications also. It is your responsibility, however, to exercise these rights in a timely fashion; we cannot do this on your behalf.

 

Instructions

We will normally accept your instructions verbally or in writing; however, we always recommend that all instructions are provided in writing for the avoidance of misunderstandings.

 

Complaints

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

In writing: Altius Capital Ltd, Unit 6, 6 Hornsey Street, London, N7 8GR

By phone: 020 7112 4863

 

A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk  or by contacting them on 0800 023 4567.  The Financial Ombudsman Service is a free and easy-to-use service that settles complaints between consumers and businesses that provide financial services.

 

Financial Services Compensation Scheme (FSCS)

Mortgage advising & arranging

For claims against companies declared in default from 1st April 2019. Mortgage advising and arranging is covered for 100% of the first £85,000 so the maximum compensation is £85,000 per person per firm.

Further information about compensation scheme arrangements is available from the FSCS. Visit www.fscs.org.uk or 0800 678 1100.

 

Insurance advising & arranging

For firms declared in default on or after 8 October 2020:

Protection is at 100% where claims:

• arise in respect of a liability subject to compulsory insurance; or

• arise in respect of a liability subject to professional indemnity insurance; or

• arise from the death or incapacity of the policyholder due to injury, sickness, or infirmity including contracts for Long Term Insurance such as Long-Term Care, pensions and annuities; or

• arise in respect of a liability subject to building guarantee policies.

Protection is at 90% where claims arise under other types of policy with no upper limit.

 

Client money

WE DO NOT HANDLE CLIENT MONEY. We will not accept any cheque other than for the payment of your fee, any third-party payments must be made by you to them. Under no circumstances will we handle cash.

 

Client verification

We may be required to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning.

 

Law

This agreement is governed and shall be construed in accordance with the Law of England and the parties shall submit to the exclusive jurisdiction of the English Courts.

 

Force Majeure

Altius Capital Ltd shall not be in breach of this Agreement and shall not incur any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its control.

 

Termination

The authority to act on your behalf may be terminated at any time without penalty by either party giving 7 days notice in writing to that effect to the other, but without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date.

 

Your responsibilities

It is your responsibility to deal with us in an honest and transparent manner. Failure to disclose key facts that relate to your personal circumstances could significantly influence the advice given. In some circumstances failure to disclose information could impact upon your ability to obtain the most suitable product and could even invalidate the product, such as in the event it is interpreted as material non-disclosure that could be considered to be a fraudulent act.

If you have any doubts as to whether you should disclose a matter it is better to notify the provider and allow them to make an informed decision.

It is also your responsibility to check that the product provided is as you expected, therefore you should check the application and ‘offer’ document on a mortgage and the application and policy document on an insurance policy. If it is not as expected, please notify your adviser immediately.

 

Declaration

This is our standard agreement upon which we intend to rely.  For your own benefit and protection you should read the terms carefully before signing.  If you do not understand any of these, please ask for further information.

I/We are aware of the costs of the services and agree to the amount and timing of these. My/Our preferred method of paying these costs is (please circle as appropriate);

By direct payment OR (where possible) By inclusion on the mortgage loan

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You must be aware that adding any fees to the mortgage loan will increase the total amount you pay over the term of that loan as the lender will apply their interest charges to this amount