"Excellent, helpful service throughout."
Miss P., Skellingthorpe, Lincolnshire
After a plethora of scandals in the financial services sector over recent years, including:
the Financial Services industry has understandably become heavily regulated, primarily in order to help to protect the consumer.
As you will see from our website, Shire Direct offers an extensive range of financial products and insurance products, the sale and arrangement of which are, in most cases, very heavily regulated by law. The main objective of the regulation is to ensure that the consumer is protected.
Since October 2004, the Financial Services Authority (FSA) have been responsible for the regulation of the sale, arrangement and administrative functions of residential mortgages; and since then the FSA have been charged with the responsibility of the sale and arrangement of additional previously unregulated financial products including:
However, as yet the following financial transactions are not regulated by the FSA:
Shire Direct is authorised and regulated by the Financial Services Authority, and our registration number is 302389.
The Office of Fair Trading, and local Trading Standards Offices are responsible for overseeing the provisions of the Consumer Credit Act, which encompasses certain financial transactions that are provided by the financial services sector, principally loans and credit, such as:
Shire Direct is licensed by the Office of Fair Trading under the provisions of the Consumer Credit Act, and our licence number is 349999. Shire Direct authorisation extends to the following activities:
All transactions coming under the jurisdiction of the Financial Services Authority (FSA) and the Office of Fair Trading (OFT), as described above, are subject to strict complaints-handling requirements, and all businesses authorised by the FSA, or who are registered by the OFT and hold a Consumer Credit Licence must abide by these provisions.
In the event of a complaint being referred to the Financial Ombudsman Service (FOS), it is the FOS that decides the outcome of the complaint on the basis of what is fair and reasonable in the circumstances.
All data handled by the Shire Direct, whether computerised or in the written form, is subject to very strict regulations imposed under the provisions of the Data Protection Act.
Shire Direct is registered with the Information Commissioner, and our registration number is Z6795249.
Mortgages/Remortgages: The overall cost for comparison is 9.8% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. APR variable and based on a usual case. Most customers are likely to receive a lower rate or the same rate as our overall cost for comparison rate - learn more about APR.
There are no upfront broker fees.
However, a fee may be charged on successful completion. An indication is that on conforming cases (straightforward applications with no or minimal adverse credit) a fee may be charged of up to 1% of the amount advanced, typically £795 and will depend on your circumstances. For non-conforming cases (where case research and processing may be more complex due to adverse credit or unusual circumstances), a fee may be charged of up to 3% of the amount advanced, typically £1,995.
Homeowner Loans: Rates from 8.9% APR variable, but typically 13.9% APR variable. Most customers are likely to receive a lower rate or the same rate as our typical variable rate - learn more about APR. Shire Direct also has a range of non-conforming loan plans with rates up to 19.9% APR. These plans are designed to help those who may have a more difficult credit history, including CCJ's and credit arrears, IVA and bankruptcy problems.
A broker fee of between 0% and 10% of the loan advance may be charged for arranging a secured loan.
All loans subject to status and secured on property.
The actual rate available will depend upon your circumstances. Written quotations on request.
Equity Release Products:
Equity Release products may involve a Lifetime Mortgage or Home Reversion Plan. To understand the features and risks, ask for a personalised illustration.
THINK CAREFULLY BEFORE
SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Adding existing debt to your mortgage will increase the repayment term and overall cost.
Shire Direct and Shire Direct Mortgages are trading styles of Shire Processing Centre Limited which is
Authorised and regulated by the Financial Services Authority in respect of regulated mortgage products and general insurances.
Registered No: 302389. Commercial funding and Secured Loans are not regulated by the FSA.
Licensed Credit Brokers. Consumer Credit Licence Number: 349999.
Shire Processing Centre Limited is registered under the provisions of the Data Protection Act by the Information Commissioners Office: Registration No: Z6795249. Registered in England & Wales. Company number: 2732202. Telephone calls may be recorded for training, monitoring and security purposes. All applicants must be aged 18-years or over.