These terms of business will come into force with
immediate effect
Our Status
We are directly authorised and regulated by the Financial Services
Authority in respect of mortgage and general insurance business. Mortgages
Direct is entered on the FSA register (www. Fsa.gov.uk/register) under
reference 301229. We are also able to advise on some other products
and services that are not regulated by the Financial Services Authority.
There is no Financial Services Compensation Scheme available for such
products and services.
Our Remuneration
We accept remuneration on a fee basis and/ or a commission basis
and the details will be covered in the Initial Disclosure Document
(CIDD) or separate fee agreement issued to you.
If we agree to work on a fee basis in place of, or together with
commissions, we will provide you with a separate fee agreement
if you subsequently cease to pay premiums on that insurance policy.
This could
apply for a period of up to four years and will reduce pro-rata
in line with the commission we are obliged to return to the Product
Provider.
The maximum amount of the fee will be no more than the amount of
commission disclosed in this illustration. This will not apply where
you exercise
your statutory right to cancel the policy in accordance with the
cancellation notice issued to you by the product provider.
Your Protection
Cheques should be made payable to product providers only and should
not be made payable to ourselves, or any individual engaged by
us. We do not accept cash. This does not apply to settlement
of invoices for
agreed fees.
Title documents will be registered in your own name and will
be despatched without undue delay whenever we receive them.
If we become aware that our interests or one of our customers
conflicts with your interests, we will inform you in writing and
obtain your
consent before we carry out your instructions.
We prefer your instructions to be given to us in writing to avoid
any possible disputes. If any instructions are given verbally
then they should be confirmed in writing. We may refuse at our discretion
to accept
certain instructions, although such discretion will not be exercised
unreasonably.
Third Party Rights
These terms of business exclude any rights, which may be conferred
upon third parties by the Contracts (Third Party Rights) Act
1999.
Review
Unless you request it we will not review any mortgage or insurance
contracts that we have arranged for you. We will provide
advice at any time you request us to do so.
Termination
Either party notifying the other in writing may terminate
these terms of business at any time. This will be without
penalty and without prejudice
to the completion of transactions already commenced on
your behalf. You would be expected to pay for any costs incurred
of
a due
proportion of any fees previously agreed.
Data Protection
Collection of Data
You agree we may hold and process personal information
for the purpose of providing financial services including
mortgage
advice
and insurance.
This may include sensitive information about racial
or ethnic group, physical or mental health, sexual life,
criminal proceedings
and
offences. We gather information from a variety of sources
including other financial
institutions, employers, professional advisors and
licensed credit reference agencies. Access
You have the right to access information we hold about
you. You can request a copy of these records by contacting
us
or alternatively the
Lime Data Protection Officer. Contact details are as
follows:
Data Protection Officer
Mortgages Direct
Goit Stock House
Goit Stock
Harden
Bingley
BD16 1DF
We are entitled to charge a fee for this service of
up to £10.
If any of the information we hold is incomplete or inaccurate please
tell us and we will correct it.
Use of Data
Personal information will be passed to Mortgages Direct for compliance
and monitoring purposes. Information may be passed to other financial
firms in the course of providing services. We may provide information
to our regulators and their successors. We may also provide information
to our auditors.
We may from time to time contact you by post, fax e-mail or telephone
with details of products, which would be of interest to you. If you
would be prefer not to receive this information please indicate your
preference by ticking the box here.
We shall disclose information to relevant authorities where we are
required to do so by law.
Money Laundering & Financial Crime; we are legally obliged to verify
the identity of our customers and retain these records. We will report
suspicious transactions to the Mortgages Direct Compliance Department
who may in turn notify the National Criminal Intelligence Unit.
We will retain records for a minimum of 6 years.
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