Seico: Initial Disclosure Document
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 only offer products from a limited number of insurers.
We only offer products from a single insurer.
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.
We do not offer Lifetime mortgages or home reversion plans.
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 on mortgages 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 mortgages 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 of no more than £250 may be charged.
No Fee.
You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.
Mortgages
No Fee
A Fee of no more than £500 may be charged. We will also be paid commission from the lender.
You will receive a key facts illustration when considering a particular mortgage product 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.
A refund of the valuation fee if the valuation has not been instructed or carried out.
No refund if we have started to process or an offer has been issued and the valuation has been instructed or carried out.
5. Who regulates us?
Seico Insurance Consultants Ltd, Ground Floor East, The Agora, Ellen Street, Hove, East Sussex, BN3 3LN is authorised and regulated by the Financial Services Authority. Our FSA registration number is 300024
Our permitted business is advising on and arranging insurance products and 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 606 1234
6. What to do if you have a complaint
If you wish to register a complaint, please contact us.
Write to: The Compliance Department, Seico Insurance Consultants Ltd, The Agora, Ellen Street, Hove, East Sussex, BN3 3LN.
By phone: 01273 778888
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
7. 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 for up to a maximum limit of £50,000.
Further information about compensation scheme arrangements is available from the FSCS.
Message from the Financial Services Authority
Think carefully about this information before deciding whether you want to go ahead.