TERMS & CONDITIONS
Terms Of Business
Cirencester Mortgage Co Ltd
The Office @ Stow Lodge, Stow Road, Cirencester, Glos. GL7 5HB
Cirencester Mortgage Co Limited is an appointed representative of HL Partnership Limited, which is authorised and regulated by the Financial Conduct Authority. Cirencester Mortgage Co Limited is a company registered in England and Wales with company Nos. 09375312.
⦁ This document sets out the terms of business between our firm (as an Appointed Representative) and its clients
⦁ 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
SERVICES & FEES
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.
Existing client discount:
We are committed to treating clients fairly. Our research has shown that the time it takes to work with a new client is longer than an existing client, mainly related to getting to know them to advise them comprehensively. To reflect that and to reward the loyalty of our existing clients we charge a reduced fee for the onward remortgage unless there has been a material change in circumstances that makes the case more complex. If there is a new purchase the fee will be agreed at time of purchase and based on the information and circumstances available at that time.
An existing client is defined as:
A client who has implemented mortgage business with Cirencester Mortgage in the last 3 years.
ONGOING SERVICES & FEES
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.
⦁ 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
⦁ 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.
⦁ 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 best endeavors 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
If You Are Not Happy With Our Service
If you wish to register a complaint, please contact us:
By phone: Telephone 01903 602 664.
In writing: The Complaints Manager, HL Partnership Limited, Pharos House, 67 High Street, Worthing, BN11 1DN.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service (e.g. if we arranged insurance or a regulated mortgage product).
You should note that if your Buy-to-Let Mortgage is not regulated by the FCA, you will NOT be entitled to refer the complaint to the Financial Ombudsman Service.
Our Regulator - The Financial Conduct Authority
We are an appointed representative of HL Partnership Limited, Pharos House, 67 High Street, Worthing, BN11 1DN, which is authorised and regulated by the Financial Conduct Authority.
HL Partnership Limited’s FCA Register number is 303397.
The permitted business of HL Partnership Limited is advising on mortgages, life assurance and general insurance.
You can check this on the FCA’s Register by visiting the FCA’s website www.FCA.org.uk/register or by contacting the FCA on 0845 606 1234.
Client Classification Levels For Your Protection
The FCA has rules which affect the rights you have as a client.
We classify all our individual clients as ‘retail’ clients. As a retail client you have rights under the Financial Ombudsman Service (FOS) and the Financial Services Compensation Scheme (FSCS).
There are other classifications of client that don’t have these rights. These are “professional” clients - such as listed companies, local authorities and larger partnerships or trusts. Also “eligible counterparties” (e.g. national governments and other state bodies, banks or regulated financial services firms).
If you have any questions regarding your classification (e.g. if you are a large company), please write to Compliance Manger, HL Partnership Limited, Pharos House, 67 High Street, Worthing, BN11 1DN or to the Financial Ombudsman Service and FSCS.
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 and any future Service fee will be provided in the Recommendation Report prepared for you by your Adviser. You may also be asked to sign and return a copy of our ‘Fee Agreement’ document to confirm your understanding and acceptance of the arrangements.
The service we provide is described as an ’intermediation’ service. This means we provide advice with the intention of recommending a product. 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 charge 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.
Further information about compensation scheme arrangements is available from the FSCS.
The Law that we operate under
All of 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.intrinsicfs.com.