Mortgage Terms of Business Letter

Our Relationship

Any advice or recommendation that we offer to you, will be based on the circumstances you have described together with your stated objectives and will take into account any restrictions that you wish to place on the type of products you are willing to consider.

We will confirm to you in writing the basis of our reason for recommending the products arranged on your behalf.

Your stated objectives will be reiterated in the suitability letter, which we will issue to you following our recommendation, together with details of any special risks associated with the product recommended.

Full details of the products we recommend to you including, for example, the minimum duration of the product, information on the right to cancel or whether no right to cancel arises, and any other early termination rights and penalties, will be covered in the relevant product disclosure information you will receive before conclusion of any contract.

Any products we have arranged for you, will not be kept under review but we will advise you if requested to do so. However, we may contact you in the future by means of an unsolicited promotion should we wish to discuss the relative merits of a particular product or service which we feel may be of interest to you.

We confirm that we maintain Professional Indemnity Insurance for your protection in the event of any proven negligence on our part.

WE DO NOT HANDLE CLIENT MONEY

We never handle cash and will not accept a cheque made out to us (unless it is a cheque in settlement of broker fees for which we have sent you an invoice)

You or we may terminate our relationship at any time without penalty. Notice of this termination should be provided in writing, as this will ensure that no confusion arises between us. We will however, accept oral instructions, which we will then confirm to you in writing. Written instructions to terminate our business relationship may be given to us at any time by either party however where we have undertaken work on your behalf for which a fee is due, we reserve the right to charge you that fee.

Your Protection

Circumstances can arise where we, or one of our other customers has an interest in business being transacted for you. If this happens or we become aware that our interests or those of one of our other customers conflict with your interests, we will write to you and obtain your consent before we carry out your instructions, and detail the steps we will take to ensure fair treatment.

All Lenders offer documents will be forwarded to you directly by the lender themselves.

Data Protection

You can be assured that we will keep all of your personal information private and confidential, even when you are no longer a customer, except where disclosure is made at your request or with your consent. Under the terms of the Data Protection Act, you have the right to view any personal data we may keep on you.

In order to process your application it may be necessary to disclose some or all of your information to third parties. You agree that personal information held by us may be disclosed on a confidential basis and in accordance with the Data Protection Act 1998 to any such third parties. Some of these parties may hold this information indefinitely. You also agree that this information may be transferred electronically, e,g. e-mail and you agree that ourselves, or any such company, may contact you in the future by any means of communication which we consider appropriate at that time.

Authorisation:
Smart Money Solutions is an appointed representative of F & R Associates, which is authorised and regulated by the Financial Services Authority. FSA Register numbers are 409755 Smart Money Solutions and 450712 F&R Associates.
F & R Associates permitted business is to arrange transactions in Investment and Pension policies, mortgages, lifetime mortgages and general insurance. You can now check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Ownership:
F&R Associates is 100% owned by its working Partners. We do not have any holding in any insurer. Likewise, no insurer has any holding in us.

Remuneration & Fees:
We are paid a commission by the lenders for arranging a mortgages and Insurer for arranging any policy. We may also charge a fee of £395 or 2% on completion of the total loan which is ever the greater i.e. £80,000 = a fee of £1600. If we charge you a fee we will tell you this from the outset.

Complaints and the Financial Services Compensation Scheme (FCSC):
We try to provide you with a professional service, acting fairly at all times. If you have any complaints about our service please address your letter to: Peter C Burnett FCII , Complaints Officer, F&R Associates, 1 Inner Street, GRANTHAM, Lincs NG31 6HR

Financial Services Compensation Scheme (FSCS)
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.