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INDEPENDANT ADVICE AIMED AT FINDING A BESPOKE SOLUTION
FOR YOUR FINANCIAL FUTURE
Mortgages • Later life Lending • Protection
“Offering later life borrowing options..“
There are many reasons why people consider Equity Release. Here are just a few scenarios where Equity Release may be suitable.
It may be that you have an interest only mortgage on your main residence, it is coming to the end of its term and you need to repay it but you have no repayment vehicle other than to sell the house.
You are asset rich in your property but have a small income and want to enjoy retirement, go on some exotic holidays or improve your main residence to suit your later years.
The good news with Equity Release is that they can be flexible to your needs with some lenders allowing you to cover the monthly interest so the interest doesn’t roll up.
Each situation is unique to each client and it may be that Equity Release isn’t necessarily the right solution. Rest assured I conduct a very thorough fact find to explore all later life lending options to make sure you get the most suitable advice.
This agreement is issued on behalf of Fortic Financial Services Limited of 5 Tywarnhayle Square, Perranporth, Cornwall TR6 0ER who can be contacted on 01872 571868.
Kings Tailored Financial Solutions is a trading style of Fortic Financial Services Limited which is Authorised and Regulated by the Financial Conduct Authority (FCA). The Financial Conduct Authority regulates the financial services industry in the UK and their address is 25 The North Colonnade, Canary Wharf, London, E14 5HS. You can check this firm’s authorisation on the FCA’s Register by visiting their website https://www.fca.org.uk/firms/financial-services-register.
You should be aware that some areas of our advice services are not regulated by the FCA.
Each client with whom the firm does business is categorised to identify the level of regulatory protection to be applied. We believe in providing our clients with the highest level of regulatory protection available and we propose to classify you as a Retail Client.
We will communicate with you in English both verbally and in writing for the sending and receiving of orders.
This agreement is in respect of our Equity Release services where we act on your behalf as an independent adviser.
Alternative client agreements are available in respect of our Pension & Investment and Mortgages & Non-investment Insurance services.
On issue of this letter any subsequent advice or recommendation offered to you will be based upon your stated & agreed objective including any restrictions you wish to place on the type of plans that you are willing to consider. We will issue you a suitability report to confirm our recommendation.
Fortic Financial Services Limited does not handle clients’ money. We never handle cash or accept a cheque made out to us, unless the cheque is in settlement of charges or disbursements for which we have sent you an invoice. For the avoidance of doubt we cannot hold any ‘assets’ on a client’s behalf
Unless advised to the contrary, we will assume that you wish to place no restrictions on any providers that we should consider.
1.5% of the total equity being released half of which to be paid on application but with a minimum fee of £1000.00 with £500.00 on application and the remainder when the equity release completes plus any commission that we may receive from the provider. For example, an equity release of £110,000 would require a fee of £500 on application and £1150 when the case completes. The total fee would be £1650.
Typically 2.5% of the total equity release with 50% payable on application & subject to a minimum total fee of £2500.00. The exact amount will be agreed before we begin any chargeable work. Any commission received from the lender will be passed on to you. For example, an equity release of £120,000 would require a fee of £1500 on application and £1500 when the case completes. The total fee would be £3000. You should be aware that complex cases are likely to require an additional or higher fee but this will always be agreed in advance.
You will receive a full refund of any fees paid should the provider reject your application unless this is due to ‘non-disclosure of material facts’. You also have the option of transferring a fee paid to another application on the same basis. For the avoidance of doubt there is no refund should you decide not to proceed or any purchase linked to the equity release falls through. In such situations we may be able to assist by transferring the fee to a new application.
Any advice given to you by us shall be in writing. We prefer our clients to give us instructions in writing, to aid clarification and avoid future misunderstandings. We will, however, accept oral instructions. We may, at our discretion, refuse to accept instructions although such discretion shall not be exercised unreasonably.
We will record all transactions on our files which, along with copies of relevant documentation, will be retained by us for a period of not less than six years. You have a right to inspect copies of entries in our books or computerised records relating to your transactions. We reserve the right to withhold copies of these records if information to other parties would be disclosed.
We will act honestly, fairly and professionally. Occasionally situations may arise when we, or one of our other clients, have some form of interest in business transacted for you. If this happens, or we become aware that our interests or those of one of our other clients could potentially conflict with your interest, 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.
The information you have provided is subject to the General Data Protection Regulations (GDPR) and all subsequent amendments & additions. By signing this document you consent to us or any company associated with us 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 Financial Conduct Authority 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.
Any information provided by you, and processed by us, may also contain sensitive personal data, being information as to your physical or mental health or sexual orientation; the committing or alleged committing of any offence by you; any proceedings for an offence committed or alleged to have been committed by you.
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 01872 571868 or in writing at 5 Tywarnhayle Square, Perranporth, Cornwall TR6 0ER.
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.
If you wish to register a complaint, please write to Fortic Financial Services Limited or telephone 01872 571868.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request.
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.
This Client Agreement is governed and shall be construed in accordance with English Law and the parties shall submit to the exclusive jurisdiction of the English Courts. Any person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Agreement but this does not affect any right or remedy of a third party which exists or is available apart from that Act.
Fortic Financial Services Limited 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 seven 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.
