The Greenock Mortgage Shop

Initial Disclosure Document

Key facts about our services.

1. The Financial Services Authority (FSA)
The FSA is the independent watchdog that regulates financial services. This document is designed by the FSA 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?
Insurance We offer products from a range of insurers. We can only offer products from a limited number of insurers for buildings and contents insurance, income protection and accident, sickness and unemployment insurance. Ask us for a list of insurers we offer insurance from. We can only offer products from Zurich Assurance for life assurance and critical illness cover.
Mortgages 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 with?
Insurance 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.
Mortgages 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 our services?
Insurance A fee No fee You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.
Mortgages No fee. We will be paid by commission from the lender. A fee of a maximum of £250 or 0.5% of the loan amount, if greater, payable on completion. For example ona a £100,000 mortgage, this would equate to a fee of £500. We will also receive commission from the lender. You will receive a key facts illustration when considering a particular mortgage, which will tell you about any fees relating to it.
Refund of fees If we charge you a fee, and your mortgage does not go ahead, you will receive A full refund No refund if you decide not to proceed with the mortgage
5. Who regulates us?
Lloyd Kingsman is an appointed representative of Openwork Limited, TriCentre 3, New Bridge Square, Swindon, SN1 1HN, which is authorised and regulated by the Financial Services Authority. Openwork Limited's FSA Register number is 408285. Openwork Limited's permitted business is advising on and arranging mortgages and general and pure protection insurance. 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 606 1234.
6. Ownership
Openwork Limited's ultimate parent company is Zurich Financial Services, which is incorporated in Switzerland. Zurich Financial Services also owns Zurich Assurance, Zurich Insurance and Sterling ISA Managers Limited..
7. What to do if you have a complaint
If you wish to register a complaint, please contact us: in writing - Write to: Complaints Management Team, Openwork Limited, TriCentre 3, New Bridge Square, Swindon SN1 1HN by phone - Telephone 0870 608 2550 Summary details of our internal complaint handling procedures are available on request from the Complaints Management Team. 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. Insurance Insurance advising and arranging is covered for 90% of the claim, without any upper limit. Mortgages Mortgage advising and arranging is covered up to a maximum limit of £50,000. Further information about compensation scheme arrangements is available from the FSCS.

The FSA is the independent watchdog that regulates financial services. This document is designed by the FSA 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..

Insurance

We offer products from a range of insurers.

We can only offer products from a limited number of insurers for buildings and contents insurance, income protection and accident, sickness and unemployment insurance. Ask us for a list of insurers we offer insurance from.

We can only offer products from Zurich Assurance for life assurance and critical illness cover.

Mortgages

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.

Insurance

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.

Mortgages

We will advise and make a recommendation for you after we have assessed your needs.

Insurance

A fee

No fee
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.

Mortgages

No fee. We will be paid by commission from the lender.

A fee of a maximum of £250 or 0.5% of the loan amount, if greater, payable on completion. For example ona a £100,000 mortgage, this would equate to a fee of £500. We will also receive commission from the lender.
You will receive a key facts illustration when considering a particular mortgage, which will tell you about any fees relating to it.

Lloyd Kingsman is an appointed representative of Openwork Limited, TriCentre 3, New Bridge Square, Swindon, SN1 1HN, which is authorised and regulated by the Financial Services Authority. Openwork Limited's FSA Register number is 408285.
Openwork Limited's permitted business is advising on and arranging mortgages and general and pure protection insurance. 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 606 1234.

Openwork Limited's ultimate parent company is Zurich Financial Services, which is incorporated in Switzerland.
Zurich Financial Services also owns Zurich Assurance, Zurich Insurance and Sterling ISA Managers Limited..

If you wish to register a complaint, please contact us:
in writing - Write to: Complaints Management Team, Openwork Limited, TriCentre 3, New Bridge Square, Swindon SN1 1HN
by phone - Telephone 0870 608 2550
Summary details of our internal complaint handling procedures are available on request from the Complaints Management Team.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service..

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

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