TERMS & CONDITIONS
The Financial Conduct Authority
Principals is authorised and regulated by the Financial Conduct Authority (FCA). The FCA
regulates financial services in the UK and you can check our authorisation and permitted
activities on the Financial Services Register by visiting the FCA’s website
www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768.
Our Financial Services Register number is 313934.
Our Services - Mortgages
We are independent mortgage advisers and we will recommend a mortgage product that is
suitable for you following an assessment of your personal needs and circumstances. This will
include a detailed assessment of affordability.
We will consider all products and lenders that we have access to. This means we will not
consider those lenders that are only available by you going direct to them.
Where you are increasing your borrowing we will consider the merits of both a new first
charge mortgage and securing this by an additional mortgage on a second charge basis.
You may have the option of a further advance from your existing lender, however, we will
only consider this where we are able to deal directly with the lender on your behalf.
It may be in your best interests to explore this option and look at the further alternative of an
unsecured loan, as these may be more appropriate for you.
Commercial Loan & Buy to Let (unregulated)
Please note Commercial loans unlike residential mortgages are unregulated. However we
will source the market to find the best suited lender and as far as possible comparison will be
provided if available with regards to majority of commercial loans are priced and packaged
on a case by case basis the lender will provide the illustration. Please refer to The cost of
Services in relation to our remuneration.
The Broker agrees to act on behalf of the Client in accordance with the terms of the Code of
Practice of the National Association of Commercial Finance Brokers (NACFB) as amended
(the Code) and a copy of the Code is available on request from the Association or on the
NACFB website www.nacfb.org
Our Services - Insurances
Non-investment protection contracts – we offer non-investment protection such as Term
Assurance, Income Protectoin, Family Income Plans, Whole of Life plans including Critical
Illness contracts from a range of insurers. We will provide you with advice and arrange the
contract on your behalf after an assessment of your personal needs circumstances.
General Insurance Contracts – we offer buildings & contents insurance, accident, sickness &
unemployment (ASU) Commercial Building and Business Insurance from a range of insurers
but only offer private medical insurance products from BUPA, Vitality, AxaPPP Healthcare,
Aviva, Simplyhealth. We will provide you with advice and arrange the contract on your
behalf after we have assessed your demands and needs for a particular type of insurance
The Costs of our Service
We will not charge any fees for advice, processing of the mortgage/commercial loan right through to completion of the mortgage/commercial loan. However, once mortgage/loan offer is issued and not taken up we have the right to the equivalent amount of the commission amount to be paid as an Invoice for that amount will be raised and expected to be paid with 10 days of the invoice date. On more complex cases or where no remuneration is paid to us by the provider, we will inform you in advance in writing (email) of our fees which we expect to be paid once an offer is issued. Once and application is submitted with your consent and later we are asked to change to another lender we have right to cover our costs which would be in the region of £500.
When processing an application if the client is late in providing the requested information after several requests resulting in the application being resubmitted a processing fee of £150 will be charged to cover the admin costs.
We will receive and retain a commission from the lender only when your mortgage/loan completes. This amount will be confirmed by the lender in their disclosure document in most cases a mortgage club will take a percentage of the commission disclosed in the key features.
If you fail to disclose any material information about your personal situation which as a result an application is cancelled we have right to charge you a fee to cover our admin costs. This will vary depending the time spent on the case.
Should you wish you can request in writing to us to view the commission rates from each of the lenders we have considered at the time that we make our recommendation to you.
Refund of fees
As we do not charge any fees for our services there is no refund. However if fees refers to any of the above points no refund will be entertained.
Reissue of Offer – fees
If an existing offer expires to renew the offer there will be an admin fee of £300 in addition to any fees that the lender may charge.
Non-Investment Protection and General Insurance Contracts
We do not charge a fee as we will receive a commission from the provider after the policy has been placed on risk.
Our Ethical Policy
We are committed to providing the highest standard of advice and service possible. The interest of our customers is paramount to us and to achieve this we have designed our systems and procedures to place you at the heart of our business. In doing so, we will:
- be open, honest and transparent in the way we deal with you;
- not place our interests above yours;
- communicate clearly, promptly and without jargon;
- seek your views and perception of our dealings with you to ensure it meets your
expectations or to identify any improvements required.
Certain protection and insurance contracts allow you the right to cancel after a contract has been put in force. Prior to you entering into a contract of protection or insurance, we will provide you with specific details should this apply to include: its duration; conditions, practical instructions and any costs for exercising it, together with the consequences of not exercising it.
We prefer our clients to give us instructions in writing, to aid clarification and avoid future misunderstandings. We will, however, accept oral instructions provided they are confirmed in writing.
If you wish to register a complaint, please write to Principals, Keepers Cottage, Orpington by- Pass, Badgers Mount, Sevenoaks, Kent TN14 7AG or telephone 01959 532502.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financialombudsman.org.uk or by contacting them on 0800 023 4 567.
If you make a complaint and we are unable to meet our liabilities, you may be entitled to compensation from the Financial Services Compensation Scheme.
Further information about the limits applicable to the different product types is available from the FSCS at http://www.fscs.org.uk/what-we-cover/products
The information you have provided is subject to the Data Protection Act 1998 (the “Act”). By signing this document you consent to us or any company associated with us for processing, both manually and by electronic means, your personal data for the purposes of providing advice, administration and management.
“Processing” includes obtaining, recording or holding information or data, transferring it to other companies associated with us, product providers, the FCA or any other statutory, governmental or regulatory body for legitimate purposes including, where relevant, to solicitors and/or other debt collection agencies for debt collection purposes and carrying out operations on the information or data.
In order to provide services to you we may be required to pass your personal information to parties located outside of the European Economic Area (EEA) in countries that do not have Data Protection Laws equivalent to those in the UK. Where this is the case we will take reasonable steps to ensure the privacy of your information.
We may also contact you or pass your details to other companies associated with us to contact you (including by telephone) with details of any other similar products, promotions, or for related marketing purposes in which we think you may be interested.
The information provided may also contain sensitive personal data for the purposes of the Act, being information as to your physical or mental health or condition; the committing or alleged committing of any offence by you; any proceedings for an offence committed or alleged to have been committed by you, including the outcome or sentence in such proceedings; your political opinions; religious or similar beliefs; sexual life; or your membership of a Trade Union.
If at any time you wish us or any company associated with us to cease processing your personal data or sensitive personal data, or contacting you for marketing purposes, please contact The Data Protection Officer on 01959 532502 or in writing at Keepers Cottage, Orpington by-Pass, Badgers Mount, Badgers Mount, Sevenoaks, KENT TN14 7AG
You may be assured that we and any company associated with us will treat all personal data and sensitive personal data as confidential and will not process it other than for a legitimate purpose. Steps will be taken to ensure that the information is accurate, kept up to date and not kept for longer than is necessary. Measures will also be taken to safeguard against unauthorised or unlawful processing and accidental loss or destruction or damage to the data.
Subject to certain exceptions, you are entitled to have access to your personal and sensitive personal data held by us. You may be charged a fee (subject to the statutory maximum) for supplying you with such data.
This agreement is governed and shall be construed in accordance with the Law of England & Scotland and the parties shall submit to the exclusive jurisdiction of the English & Scottish Courts.
Principals shall not be in breach of this Agreement and shall not incur any liability to you if there is any failure to perform its duties due to any circumstances reasonably beyond its control.
The authority to act on your behalf may be terminated at any time without penalty by either party giving 7 days notice in writing to that effect to the other, but without prejudice to the completion of transactions already initiated. Any transactions effected before termination and a due proportion of any period charges for services shall be settled to that date.