Company: STEVEN JEFFRIES FINANCIAL SERVICES Mortgage Personal Review This document contains a series of questions regarding your financial circumstances, needs and aspirations. These questions need to be answered fully to enable us to recommend the best course of action for you to satisfy your needs. A copy of this document will be kept either as a paper record or electronically. PREPARED FOR Title (Mr, Ms, Mrs, Miss, Other) Surname First Name(s) Email address CLIENT PARTNER (if applicable) Terms of Business Letter Date Issued to Client(s) Mortgage Personal Review Date Completed Client Specific illustration / Key Feature Document – Date Issued Suitability Letter Date Sent to Client(s) Application Forms Date Signed by Client(s) Reason for Replacement Policy Form Date Signed by Client(s) Date of Verification of Identity requirements Satisfied & Signed by Adviser The Mortgage Code This is a voluntary code followed by lenders and mortgage intermediaries in their relations with personal customers in the United Kingdom. It sets standards of good mortgage lending practice which are followed as a minimum by those subscribing to it. As a voluntary code, it allows competition and market forces to operate to encourage higher standards for the benefit of customers. Virtual Net (Europe) plc subscribes to the Mortgage Code. Financial Services Act 1986 Independent Financial Advisers are required to have proper regard for a client’s best interests in any advice given. They must therefore do their utmost to ensure that they are aware of your personal and financial circumstances so that their advice is the most suitable for your needs. The questions here have been specifically designed to help your adviser provide advice that meets your needs. If, for any reason, you decline to answer any or all of the questions or if you fail to provide true and accurate information to the best of your knowledge, the advice given subsequently may not be best advice, as it can only be based on the information provided. Data Protection Act – Disclosure of Information The information given in this document will be retained on computer for reference purposes, and will be held in accordance with the Data protection Act 1998. The details may be passed to the Virtual Net Group and/or their regulatory authorities and auditors for the purpose of compliance. Virtual Net (Europe) PLC is authorised and regulated by the Financial Services Authority for investment business. (Mortgages are not regulated by the Financial Services Authority). THE INFORMATION ON THIS FORM IS INSUFFICIENT FOR ADVICE TO BE GIVEN IN ANY AREA OTHER THAN MORTAGE PROVISION, PROTECTION AND REPAYMENT. DO YOU WISH TO REVIEW ANY AREA OTHER THAN YOUR MORTGAGE? Self Yes No Yes Partner No 1. Personal Details Surname First Name(s) Title Current Address Self Partner Post Code Telephone No. (Daytime) Telephone No (Evening) Age & Date of Birth Marital Status Smoker? Dependants? Age DOB Age DOB YES/NO YES/NO Ages Yes No YES/NO YES/NO Ages Yes No Have you made a will? 2. Employment Details Occupation Employment Status Time in current employment Business Name Business Address Years Months Years Months Post Code Details of probationary period (if any)? If employed less than 1 year – detail your previous occupation, employer and dates of employment If employed: Basic Salary p.a. Guaranteed additional p.a. (overtime, bonus, etc.) Regular additional p.a. (overtime, bonus, etc.) Other Income (please specify) £ £ £ £ £ £ £ £ Your expected retirement age Details of any other income (e.g. pensions, rental, investment, state benefits, allowances) If self-employed – number of years’ accounts available Net profit last year Previous year Year before that £ £ £ £ £ £ 3. Financial Details Current Outgoings Mortgage/Rent/Board Loan/HP Repayments Amount Outstanding Gas/Elec/Water/Tel Council Tax Household Expenses All Insurances/Pensions £ £ £ £ £ £ £ pm pm pm pm pm pm Travel Expenses Credit/Charge Cards Amount Outstanding Regular Savings Social Expenses Other Expenses Total Commitments £ £ £ £ £ £ £ pm pm pm pm pm pm Self Partner Do you have any credit cards? Total amounts outstanding Do you repay the full amount each month? Do you have any hire purchase, loans or rental agreements? If ‘Yes’, how many? Regular repayment amount(s) Amounts outstanding Number of months remaining Are any of the above amounts outstanding to be added to the mortgage advance? If ‘Yes’, provide details:£ £ Do/will you have any funds available to reduce the mortgage advance in the future? £ YES/NO £ YES/NO YES/NO YES/NO £ £ p.m. £ £ p.m. YES/NO YES/NO balance o/s mthly repayments £ £ balance o/s mthly repayments YES/NO YES/NO If ‘Yes’, how much and when? £ (provide details on the continuation sheet if necessary) Are you making any child maintenance or alimony payments? YES/NO £ per £ YES/NO £ per In the event of serious illness :Could you continue paying your financial commitments? Will you still receive any regular income? If ‘Yes’, how much will you receive and where from Do you have any critical illness or unemployment insurance? YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO Do you have an Endowment policy? If ‘Yes’, name of provider Monthly Premium Start & Maturity Dates (mm/yy) Maturity Value (if known) £ YES/NO YES/NO £ / £ / £ Have you ever has a mortgage or a loan application refused? YES/NO YES/NO Have you ever had a judgement for debt or a loan default registered against you? Have you ever been declared bankrupt or made an arrangement with your creditors? Have you ever failed to keep up your payments under any previous or current mortgage, rental or loan agreement? YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO N.B: If you have answered ‘Yes’ to any of the above, please give details in the Notes section below. Notes: 4. Home Details Current Residential Status OWNER/TENANT/WITH PARENTS/OTHER £ per OWNER/TENANT WITH PARENTS/OTHER £ per If renting, how much do you pay? Are you on the electoral roll there? Length of time at current address Previous address (if less than 3 Years. Detail other addresses On separate page if necessary YES/NO YES/NO Yrs Mths Yrs Mths The applicant is a:(please tick whichever is applicable) First time Buyer Mover Remortgaging Right to Buy Shared Ownership Scheme Borrowing an additional amount First time Buyer Mover Remortgaging Right to Buy Shared Ownership Scheme Borrowing an additional amount £ If you are borrowing an additional amount, how much? What is this for? Are there any foreseeable changes to your circumstances? If ‘Yes’, what are they? £ YES/NO YES/NO 5. Current Mortgage Details Lender Account Number Amount of Loan outstanding Term remaining Repayment method Current Rate and amount Interest Rate Type If selling, what is the sale price? Are there any penalties if you transfer or repay your existing mortgage now? If ‘Yes’, how much are they? Are you prepared to pay any penalties if you transfer/repay your current mortgage? Are your current mortgage terms portable to a new property? YES/NO YES/NO £ YES/NO £ YES/NO £ £ YES/NO YES/NO 6. Property to be mortgaged Will this be the only property you own or have a mortgage on? If ‘No’, please explain Address of the property to be mortgaged? YES/NO YES/NO Price of the property being purchased How much do you want to borrow? Does this include the addition of fees? £ Estimated Value £ £ Over what term YES/NO If ‘Yes’, how much is to be added Property type Do you have the funds available to complete this transaction? Amount of funds available Source of funds available In the vendor/builder paying your deposit? If you are purchasing under Right to Buy legislation: Estimated value Are you borrowing more than the purchase price? If ‘Yes’, please provide approximate cost and brief details. £ £ YES/NO £ YES/NO £ If you are buying on a Shared Ownership scheme: Percentage of property to be purchased Which shared Ownership body are you buying from Are any home improvements planned? If ‘Yes’, please provide brief details and approximate costs. YES/NO YES/NO % % 7. Details of ALL existing mortgage protection and repayment plans Lives Assured 1. Sum Assured Lives Assured 2. Sum Assured Lives Assured 3. Sum Assured Lives Assured 4. Sum Assured Policy Type Premium/Frequency Policy Type Premium/Frequency Policy Type Premium/Frequency Policy Type Premium/Frequency Insurance Co. Start Date Insurance Co. Start Date Insurance Co. Start Date Insurance Co. Start Date Policy Number Maturity Date Policy Number Maturity Date Policy Number Maturity Date Policy Number Maturity Date 8. Details of any CCJs or arrears 9. Mortgage Considerations In order to give you a high standard of service, we need to understand your requirements, attitude to risk and objectives to help us to provide you with a mortgage fitting your needs and relevant to your circumstances. Might your income or expenditure change significantly within the foreseeable future? If ‘Yes’, please provide approximate timescale/amount/reason Do you have any plans to pay off some or all of your mortgage in the foreseeable future? If ‘Yes’, please provide approximate amount/timescale/reason Are you likely to move home within the mortgage term (other than this transaction)? YES/NO LARGER/SMALLER If ‘Yes’, please provide approximate timescale/reason Please indicate the features most important to you. An upper limit on your mortgage costs for a specific period To fix your mortgage costs for a certain period Access to an initial cash sum (known as a Cashback) A discount on your mortgage repayments in the early years No early settlement interest on full or part repayment No tie-in after a fixed, discounted or capped interest period. No high percentage lending fee. Speed of mortgage completion. Ability to add fees to the loan. Ability to vary the repayment amount to take repayment holidays YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO YES/NO If ‘Yes’, to any of the above, please provide reasons. Please indicate whether:You are concerned about the possibility of future interest rate movements. YES/NO If ‘Yes’, please provide reason. You want certainty of your mortgage being repaid at the end of the term YES/NO You are comfortable if all or part of your mortgage is repaid from the proceeds of an investment product, i.e. an endowment, ISA or Pension? Changes in person circumstances, such as loss of income, can lead to you being unable to repay all or part of your mortgage commitments. YES/NO/ALL/PART Do you require payment protection insurance? YES/NO If ‘Yes’, how much repayment cover do you require FULL/PART Do you want the benefit payment to be in excess of the mortgage repayment? YES/NO Is the cover to be for joint applicants or a single applicant? JOINT/SINGLE Do you require a quotation for buildings and contents insurance? YES/NO 10. Notes 11. Declaration PLEASE READ AND CHECK THIS ENTIRE FORM BEFORE SIGNING. PLEASE NOTE THAT THE INFORMATION ON THIS FORM IS INSUFFICIENT FOR ADVICE TO BE GIVEN IN ANY AREA OTHER THAN MORTGAGE PROVISION, PROTECTION AND REPAYMENT. I/We confirm that the information given and recorded on this form is correct, and understand that it shall form the basis for all advice offered. I/we confirm that I/we have declined the offer of a full financial review and have chosen to limit this review to the area of mortgage planning. Client Signature(s) Date Level of Service Provided There are three levels of service available under the Mortgage Code, these are; Level A – Full advice and a recommendation Level B – Information on a range of mortgage products Level C – Information on a single mortgage product only Please tick the box and sign below to indicate which level of service is being provided in this case; Level A Level B Level C I CONFIRM THAT THE APPLICANT(S) READ AND AGREED THE INFORMATION RECORDED BEFORE SIGNING ABOVE. I ALSO CONFIRM THAT I HAVE PROVIDED THE APPLICANTS WITH A COPY OF MY BUSINESS CARD, THE TERMS OF BUSINESS LETTER AND THE LEAFLET “YOU AND YOUR MORTGAGE” Advisers Name (print) Adviser’s Signature Date 12. Provision of Information Checklist Customer Name(s) I/We have provided you with information and explanations of the following: 1. 2. 3. The main repayment methods to consider The different types of products and interest rate arrangements to meet your needs For Interest Only Mortgages: - the various product types for repaying your mortgage - the consequences of failing to make sure you have suitable repayment arrangements in place - your responsibility to ensure that you keep a suitable repayment product in place throughout the life of the mortgage 4. The consequences of early repayment of this or your current mortgage, e.g. early repayment charges, repayment of a Cashback, early surrender of an investment product An illustration of future potential repayments at the end of a discounted, capped or fixed interest period (also insurance premiums after a payment free period) Itemised all costs and fees that you will have to pay The implications of adding fees and costs to the loan and consolidating debts Whether the mortgage terms can be transferred to another property if you move house The importance of Mortgage Payment Protection Insurance Whether any insurances are a condition of the mortgage Your responsibility to ensure that all necessary forms of insurance relating to the Property and the mortgage are kept in place Where High Percentage Lending Fees apply – the cost to you, the implications and your Personal liability When your customer account details may be passed to a credit reference agency Firm’s Name Adviser’s Name Adviser’s signature Date 5. 6. 7. 8. 9. 10. 11. 12. 13.