FAQs
Q. How do you make money if you don't charge me a fee?
A. We are paid a commission from whichever lender we recommend you to. The exact amount of this is shown in your personalised illustration. The commission we earn in no way increases the cost of your mortgage, the lender simply pays us rather than their own advice staff.
Q. Can a computer really give me proper advice?
A. No! Wonderful as they are a computer is yet to pass the relevant examinations required to become a mortgage advisor. When you submit your questionnaire one of our qualified and experienced mortgage advisors reviews the information and recommends whichever product most closely matches your needs and preferences. Sometimes we may give you a choice if there are two similar products.
Q. Is my information secure?
A. Most definitely. Once you log in every page you read, or enter information into, is securely encrypted. This is why we never email you personal information as it's very easy for hackers to intercept emails, but the secure site is very safe indeed. Also, we will never pass your information to anyone else for marketing or any other purpose unless it is required in order to process your mortgage application or by our regulators. We are registered with the Data Protection Act.
Q. What is a Factfind?
A. A 'Factfind' is basically a questionnaire which gathers information about you, your current and past financial status and your personal needs. By completing a Factfind you enable our advisors to give advice tailored to your needs.
Q. What's an Illustration?
A. An Illustration is basically a quote for any product we are recommending. This sets out the interest rate, fees and other important information regarding any mortgage you may apply for. The full name for any 'Illustration' is a 'Key Facts Illustration' because it gives you the key facts about products you may apply for - easy when you know how isn't it!
Q. Why should I bother using your secure messaging system instead of email?
A. Most of the time email is a very effective method of communication, but because we'll be providing you with very personal mortgage and insurance advice - and you may be sending us bank details and information on your income - we prefer people to use our secure messaging system as people can not intercept this method of communication. Basically, email is not completely secure and we care about your privacy so have provided the messaging system for your security!
Q. How long will it take for you to get back to me?
A. If you send us your information (having logged in) between 9am and 5pm Monday to Friday we aim to provide an personalised illustration for you, with any other appropriate information within 4 hours. Outside these times we aim to respond to all queries within 24 hours. As Winston progresses our turn around time will increase, but we want to ensure you get the best advice from qualified advisors so would rather take an extra 10 minutes to complete our research than rush through things to get something back to you quickly!
Q. What is a mortgage broker / mortgage advisor??
A. Mortgage advisors (often referred to as mortgage brokers) are companies and individuals who offer advice to people looking to arrange a mortgage. Many people still believe that if they want a mortgage they have to go and see their bank, but this is NOT the case. By approaching a mortgage advice company, such as ourselves, you're ensuring that the best product for you is chosen from the whole of the mortgage market rather than just your own banks range of products. It might be that your bank has the best deal for you, but if not wouldn't you rather be sure? Since October 2004 the Financial Services Authority have regulated the UK's residential mortgage advice companies. To become an advisor you must pass several exams and be deemed competant having been given on the job training and having your work checked for a period of time to ensure you are giving customers appropriate advice. Winston Mortgages Limited is proud to maintain professional standards and all our staff take pride in their work.
Q. Are you able to assist people in Scotland?
A. At present our service is limited to England and Wales due to the differing regulations in Scotland. We plan to expand our service to cover Scotland in the future so do check back!