Terms of business
Instructions from You
The Company normally asks You to give written instructions in order to avoid possible disputes. The Company will, however, accept Your oral instructions, provided they are confirmed in writing.
The Company may prior to acting on Your behalf require production of adequate evidence of Your identity/residence. You hereby agree to provide such evidence on request or for us to obtain this via electronic means.
The Company’s authority to act on Your behalf may be terminated at any time without penalty and without prejudice to the completion of transactions already initiated, by either party giving immediate notice in writing to that effect to the other. Transactions in progress at the time of termination shall be processed to completion as if the termination had not taken place, unless specifically aborted by you in writing.
The Company offers impartial advice but occasions can arise when it, or one of its Advisers/Appointed Representatives or another client, will have some form of interest in business, which the Company is transacting for You. If this happens, or the Company becomes aware that its interests or those of one of its Advisers/Appointed Representatives or other clients, conflict with Your interests, the Company will inform You in writing and will obtain Your consent before carrying out Your instructions.
Fees & Charges
Arranging a mortgage or other home finance product for You may involve Arrangement, Booking, and Valuation fees and the payment of commission (Procuration fee) to the Company by the relevant lender/product provider. You should refer to the Key Facts Illustration for details of all costs and charges associated with any recommended mortgage.
We will agree with You how we will be remunerated at the initial meeting. Our scope of services is confirmed in the “Key facts about our services” document. All fees and commissions applicable will be disclosed to You in the Suitability Report.
THE COMPANY DOES NOT HANDLE CLIENT MONEY OR ASSETS. The Company never accepts cheques made out to the Company/Advisers/Appointed Representatives (unless it is in settlement of Broker Fees, which have been invoiced) or handles cash. All cheques for premiums or any mortgage/home finance/insurance related payments must be made payable to the product provider/lender/insurer.
Documentation and Information
The Company will forward to You all documents concerning the matters they have arranged for You, as soon as practicable after they receive them. Where a number of documents relating to a series of transactions is involved, the Company will normally hold each document until the series is complete, then forward them to You.
The Company may, in appropriate circumstances, place Your mortgage related insurance business through another authorised broker, arrange for You to deal directly with the relevant Insurer, or make special arrangements with a particular Insurer concerning the issue of policies or the handling of claims. In such circumstances, the Company will advise You accordingly.
The Company will also provide You with information relevant to Your mortgage/home finance/insurance needs, covering such items as an explanation of the main repayment methods and the implications of taking out a mortgage. All advice given and recommendations made, including the underlying reasoning will be confirmed to You in a Suitability Report.
It should be noted that it is your duty to report all information that could be considered a material fact in relation to the insurance contract you have proposed. In addition, you should read carefully the policy wording (once received) and familiarise yourself with any further requirements to inform the insurer about a fact that might have an effect on the policy in the future. Failure to disclosure such material facts may render the insurance invalid and will therefore not provide the cover you expect.
Complaints, Claims and Client Classification
If You wish to register a complaint or make a claim about the service You have received from the Company, please refer to clauses 6 & 7 of our Initial Disclosure Document supplied:
The Company’s Complaints Procedure (copy of which is available on request) is without prejudice to the client’s rights to lodge a formal complaint with the Financial Ombudsman Service.
Customers (Clients) to whom these Terms apply are classified under the FCA Rules as “Retail” and “Commercial” customers for General Insurance business. Clients classified as “Commercial” customers will normally have lesser rights to information disclosure, complaints and compensation than those classified as “Retail” customers.
You should note, at all times that, YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. BUY TO LET (PURE) AND COMMERCIAL MORTGAGES ARE NOT REGULATED BY THE FCA.