Gallery Finance Ltd Initial Disclosure - about our regulated services and costs.

Gallery Finance Limited

57 Wheelock Street

Middlewich

Cheshire

Tel: 01606 738585
1. The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. This document has been designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.
2. Whose products do we offer?
Mortgages
We offer mortgages from the whole market.
	We only offer mortgages from a limited number of lenders. Ask us for a list of the lenders available to us.
We only offer mortgages from a single lender.
Secured loans
We offer secured loans from the whole market.
	We only offer secured loans from a limited number of lenders. Ask us for a list of the lenders available to us.
We only offer secured loans from a single lender.
Insurance
We offer insurance products from a range of insurers.
We only offer insurance products from a limited number of insurers. Ask us for a list of the insurers available to us.
	We do not offer insurance products. However, if you require insurance, we can refer you to

‘LM Financial & Protection’ for Life, Critical Illness and Income Protection cover.
3. Which service will we provide you with?
Mortgages
	We will advise and make a recommendation for you after we have assessed your needs. You may request a European Standardised Information Sheet (ESIS/KFI Plus) illustration on any product for which you qualify.
We are providing an Execution-Only service and you will not receive a recommendation from us.
Secured loans
	We will advise and make a recommendation for you after we have assessed your needs. You may request a European Standardised Information Sheet (ESIS/KFI Plus) illustration on any product for which you qualify.
We are providing an Execution-Only service and you will not receive a recommendation from us.
Insurance
We will advise and make a recommendation for you after we have assessed your needs for Life, Critical Illness and Income Protection cover.
	You will not receive advice or a recommendation from us for Life, Critical Illness and Income Protection cover. However, we can refer you to ‘LM Financial & Protection’ who would be able to offer the advice you require.

Continued over
4. What will you have to pay us for our services?
Mortgages
No fee. We will not charge a fee for arranging a mortgage for you.
	We will charge a broker fee for arranging a mortgage for you. You will be given the option to pay the fees up front or add them to the mortgage. Adding the fee to the mortgage will mean that you incur interest on the fee over the term of the mortgage. The fee will be subject to a minimum of £499 and capped at a maximum of £1,999.
We will also be paid commission by the lender. The exact amounts of our fee and the commission payable to us by the lender will be detailed in the lender’s European Standardised Information Sheet (ESIS) document and in our Secondary Disclosure which will accompany that Illustration.
Secured loans
No fee - We will not charge a fee for arranging a secured loan for you.
	We will charge a broker fee for arranging a secured loan for you. The fee will include all of the costs incurred by us in the processing of your application and will be not more than 12.5% of the net amount of your loan. Our fee is subject to a minimum of £495 and will be capped at a maximum of £4,995. You will be given the option to pay the fees up front or add them to the loan. Adding the fee to the loan will mean that you will incur interest on the fee over the term of the loan.
We will also be paid commission by the lender. The exact amounts of our fee and the commission

payable to us by the lender will be detailed in the lender’s European Standardised Information Sheet / illustration document and in our Secondary Disclosure which will accompany that Illustration.
Insurance
	No fee - We will not charge a fee for arranging an insurance product for you.
We will charge a broker fee for arranging an insurance product for you.
You will receive a quotation from the broker which will tell you about any fees relating to the particular insurance policy. We will be paid commission by the broker.
5. Refund of fees
Fees added to the mortgage or secured loan will not be eligible for refund as these are only payable upon completion of the finance.

Fees paid up front may be refunded on a pro rata basis taking into account costs already incurred by us.
6. Other Options
We will inform you that other alternative finance options may be available which you may wish to consider such as a further advance from your existing mortgage lender, unless we know that your existing mortgage lender will not do this.
7. Who regulates us?
Gallery Finance Limited is authorised and regulated by the Financial Conduct Authority under reference FRN: 659898. You can check this on the Financial Services Register
8. The Financial Services Compensation Scheme
Gallery Finance Limited is covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This will depend upon the type of business and circumstances of the claim.

Mortgage advising and arranging is covered up to a maximum limit of £50,000.00

Insurance advising and arranging is covered for 90% of the claim, without any upper limit …. Or….

For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without upper limit.
9. What to do if you have a complaint
If you wish to register a complaint, please write to us at 57 Wheelock Street, Middlewich, Cheshire CW10 9AB

or you can telephone us on 01606 738585. Alternatively, email to info@galleryfinance.co.uk
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

Their address is:

The Financial Ombudsman Service

Exchange Tower

London

E14 9SR

Telephone Number 0800 023 4567 (calls to this number are free from mobile phones and landlines) or

0300 123 9123 (calls to this number cost no more than calls to 02 and 02 numbers)

Their usual business hours are Monday to Friday 8.00am to 8.00pm and Saturday 9.00am to 1.00pm
July 2018

V4

Gallery Finance Limited

Master Brokers

Steve

2018-07-19