Disclosure document

Timing

TCF risk if late or not provided

IDD
‘Keyfacts about our mortgage service’

At initial point of contact, or within five days (by post or email) if initial contact was by telephone.

Customer won’t have the time (or else opportunity) to assess whether they are happy with type and cost of service and/or range of products available.

Customer won’t be able to compare your service with others on offer.

KFI
‘Key facts illustration’

When making a recommendation. To be provided before the customer applies for the mortgage; not at the same time.

If the customer asks for a personalised illustration (advised or non-advised sales). To be sent within five days of the request if a telephone sale.

The customer won’t have the time (or opportunity) to compare the product with others on offer.

Customer risks being pressured into taking out the mortgage without proper time to assess the key features, risks and costs.

If KFI not provided and the mortgage doesn’t proceed the customer won’t understand what fees are and aren’t refundable.