Terms & Conditions

Terms Of Business

This information sets out the terms of business between our firm (as an Appointed Representative) and its clients. These ‘Terms of Business’ apply until further notice and must be read in conjunction with the ‘Guide To Our Mortgage and Protection Services’. In case of any ambiguity between the documents, this ‘Terms of Business’ will take precedent. Either we or you can end these terms at any time, without penalty and this will not affect any outstanding transactions being carried out on your behalf.

Confirmation of our advice areas

• We will advise and make a recommendation for you after we have assessed your needs for Life Assurance, Critical Illness, Income Protection, Accident Sickness & Unemployment (when available), Home Insurance, and Private Medical Insurance.
• We will advise and make a recommendation for you after we have assessed your needs.

Confirmation of whose products I offer

Insurance

• We offer Private Medical Insurance products from a range of insurers.
• We offer Life, Critical Illness, Income Protection and Whole of Life products from a panel of leading insurers. Ask us for a list of insurers we offer insurance from.
• We offer General insurance* products from Legal & General. *If Legal & General cannot insure you for Buildings and Contents, we may use a range of other providers.

Mortgages

Residential:

• We offer a mortgage review service that is representative of the whole of market, but not deals that you can only obtain by going direct to a lender.
• We do not provide advice on 2nd charge mortgages or bridging loans. Where customers have a need for these types of loan we will refer you to a specialist broker.

Business Buy To Let; Consumer Buy To let:

• We offer a mortgage review service that is representative of the whole of market, but not deals that you can only obtain by going direct to a lender.
• We do not provide advice on 2nd charge mortgages or bridging loans. Where customers have a need for these types of loan we will refer you to a specialist broker.

Unregulated Mortgages

• It is important to point out that not all mortgage loans and services are regulated by the Financial Conduct Authority. Some of the advice and services we provide may relate to loans which are either unregulated or have limited consumer protection.
• We will confirm to you if any product we are recommending is not regulated by the FCA.
• You should note that if we are arranging a “Buy-to-Let” mortgage for you, it is very important to understand that very few Buy-to-Let mortgages are regulated by the Financial Conduct Authority (FCA).
• We will confirm to you if any product we are recommending is a Business Buy-to-Let or a Consumer Buy-to-let loan.

What you will pay for our services

Insurance

• No fee for Life Assurance, Critical Illness, Income Protection, Accident Sickness & Unemployment, Home Insurance, and Private Medical Insurance. We will be paid by commission from the company.

For residential mortgages:

• Fees vary according to individual circumstances and we will agree our fees with you before we undertake any chargeable work. This fee is for advice, research, recommendation, implementation (e.g. application, administration of arranging the loan). We will also be paid by commission from the lender.
• We charge a fee of up to 2% of the mortgage amount. This fee is for advice, research, recommendation, implementation (e.g. application, administration of arranging the loan). We will also be paid by commission from the lender. Our typical fee is £699.
• Our fee is payable on completion
• Should you wish you can request to view the commission rates from each of the lenders we have considered at the time that we make our recommendation to you.

For Business Buy To Let and Consumer Buy To let:

• Fees vary according to individual circumstances and we will agree our fees with you before we undertake any chargeable work. This fee is for advice, research, recommendation, implementation (e.g. application, administration of arranging the loan). We will also be paid by commission from the lender.
• We charge a fee of up to 2% of the mortgage amount. This fee is for advice, research, recommendation, implementation (e.g. application, administration of arranging the loan). We will also be paid by commission from the lender. Our typical fee is £699.
• Our fee is payable upon successful completion of your mortgage.
• Should you wish you can request to view the commission rates from each of the lenders we have considered at the time that we make our recommendation to you.

• Our fee is payable on completion.
• If you ask us to refer you to a specialist broker for 2nd charge lending we will receive a payment from the broker if they arrange a loan for you. The amount of the payment will vary according to circumstances but will typically be 0.5%.

You will receive a mortgage illustration when considering a particular mortgage, which will tell you about any fees relating to it.

Refund of Mortgage Fees

If your mortgage does complete , you will receive no refund.

Minimum Fees & VAT

The fees outlined are NOT subject to VAT. Any variation to this amount will be confirmed in writing to you before proceeding further. This may be for example for larger or more complex loans, or where your personal situation is more complex regarding income sources, taxation, residence and credit rating.

ONGOING SERVICES & FEES

The following details are for the ongoing service that we deliver to our clients.

You can if you wish to, add or enhance levels of service with your adviser if you feel appropriate (usually for an agreed fee). There is no fee for the following level of service, as we will have been paid commission from the mortgage lender or insurance provider at inception of your mortgage or protection plans.

1. Communication – In order to provide you with a high-quality service we may want to contact you regarding items we consider are of interest to you, or to make you aware of new opportunities. If this happens, we would like to contact you. You are able to opt out of this
2. Protection – It is important to ensure your current protection plans and provisions remain in line with your objectives. If you wish, we can review this once a year with you.
3. Mortgages – If we do not review your borrowing, you may end up paying more than you need to for your loans. We aim to contact you before any special terms of your mortgage expire. Ideally this will be 6 months beforehand. We encourage you to contact us should your financial circumstances change in the meantime.

We will make reasonable endeavours to contact you. Please be aware that should we not be able to review your mortgage before the end of any special term, this may result in you paying considerably more for your loan.

OTHER IMPORTANT INFORMATION WE FEEL YOU OUGHT TO KNOW

Client Money Peace Of Mind

We do not handle Client Money. We never handle cash and will only accept a cheque made out to us in settlement of Advice and Service Charges. Our preferred method of payment is via bank transfer.

Your Duty of Disclosure

Any financial advice we provide will be based on your personal financial circumstances and objectives. It is important that the information you give us is both accurate and a true reflection of your current circumstances.

It is your responsibility to provide complete and accurate information to a provider (a provider being for example, an organisation that provides insurance, mortgage, or investment related plans).

It is important that all statements made on any proposal form, or on any additional documentation are full and accurate.

Please be aware that if you fail to disclose any relevant information, or any change of circumstances to a provider, then the terms of your desired plan may be invalidated (e.g. an insurance claim may not be paid). We strongly recommend that the information you provide is checked thoroughly prior to submission.

Paying For Advised Services

Full details of the final Advice will be provided in the Suitability Advice Report. Details of any fees payable and future service agreements will be provided in the ‘Authority to Proceed’ document prepared for you by your Adviser. You will be asked to sign and return a copy of this document to confirm your understanding and acceptance of the arrangements.

Language

Unless agreed by us at outset all communication will be completed in English.

Overseas permissions

All advice will be conducted in the UK. We do not have permissions to give advice when either you or I are located in any overseas location regardless of whether that location is in the European Economic Area (EEA) or not.

Timing of Reports

I will send you a Suitability Advice Report setting out the reasons for my recommendation at the time of my recommendation and where applicable before implementing any advice that I have recommended. If you would like this in an alternative format e.g. Braille, Moon, Clear and Large Print, Audio documents (Cassette, CD, MP3 or Wav) or any other languages please let me know.

VAT

The service we provide is described as an ’intermediation’ service. This means we provide advice with the intention of acting between you and a product provider to arrange a financial product or service. If we did not do this, we would be liable for VAT on the fees charged. VAT is not applicable on the fees we charge for intermediation services. In arranging the sale of retail financial products an adviser fee made for advice, even if you decide not to proceed with the purchase of the recommended product, will remain VAT free where the adviser has provided you with full advice services up to that point, including all relevant documentation.

In the event that the advice services we provide become ancillary to our intermediation services, VAT may become chargeable (e.g. we review your entire financial circumstances but make no or limited recommendations).

Should this change in the future, and where VAT becomes due, we will notify you before conducting any further work. In any case, where VAT is payable on our services it will be charged in addition to the agreed fee.

Addressing Financial Crime

All transactions relating to the services provided by us are covered by Money Laundering Regulations 2007 and the Proceeds of Crime Act 2002. The FCA also requires that we have appropriate measures in place to prevent the furtherance of financial crime.

Our responsibilities include but are not limited to verifying the identity and address of our clients and any third party making payments on their behalf. If required, you must supply proof of your identity in accordance of the above Regulations. Identity verification checks may include electronic searches of the electoral roll and the use of credit reference agencies, which will result in a soft ‘foot-print’ on your credit records.

This foot-print is not visible to other financial service providers and does not affect your credit rating in anyway. In accordance with the Data Protection Act 1998 acceptance of these terms and conditions represents your permission for us to access this information.

Financial Services Compensation Scheme (FSCS) Current limits

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. i.e. it differs for investments, insurance, mortgages and bank accounts.

• Insurance: Insurance advising and arranging is covered for 90% of the claim, without any upper limit.

• Mortgages: Mortgage advising and arranging is covered up to a limit of £50,000.

• Investment: Most types of investment business are covered up to a limit of £50,000.

• Deposits: Bank Type Deposits are covered up to a limit of £85,000 per institution.

Further information about compensation scheme arrangements is available from the FSCS.

The Law that we operate under

All our agreements provided are governed and construed in accordance with the laws of England and Wales. In relation to any dispute, for your protection you agree to submit to the non-exclusive jurisdiction of the English courts.

The Data Protection Act 1998

The personal information you provide will assist your financial adviser in offering you the best advice as required by the Financial Services and Markets Act 2000. The personal data you provide will be used and stored in accordance with the Data Protection Act 1998. To understand exactly what data we hold, why we hold it and your rights under the Data Protection Act 1998 our Fair Processing Notice can be viewed at www.quilter.com/.