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INDEPENDANT ADVICE AIMED AT FINDING A BESPOKE SOLUTION
FOR YOUR FINANCIAL FUTURE
Mortgages • Later life Lending • Protection
“Piece of mind to help protect the things that are the most important to you.”
I can advise you on the right type of cover for you and your family by conducting an in-depth and very sensitive fact find.
Often people have said to me that they just need some life assurance without considering what would happen if they had an illness and survived.
When considering your protection needs I consider all aspects to protect you against, for example if you couldn’t work again.
Critical Illness cover – Provides a lump sum if you are diagnosed with certain critical illnesses.
Income protection – This cover helps replace your income if you can’t work due to illness.
Life Assurance – Pays a lump sum upon your death.
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. These include, but are not limited to, most buy-to-let mortgages which are regarded as commercial finance.
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 mortgage services where we act on your behalf as an independent adviser and our non-investment protection insurance services, in respect of which we are an intermediary and will act on your behalf when providing advice and making our personal recommendations to you, and our general insurance services where we will act on your behalf when recommending an insurer based on your demands & needs. In both instances we will select suitable insurers from a fair analysis of the market.
Alternative client agreements are available in respect of our Pension & Investment and Equity Release 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 mortgages or policies 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
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.
Unless advised to the contrary, we will assume that you wish to place no restrictions on any lenders & providers that we should consider
A minimum fee of £300.00 on application with a further £395.00 when the mortgage is offered plus any commission that we may receive from the lender.
Self-Build mortgages will incur a minimum fee of £750.00 on application, and a further fee of £750.00 when the mortgage is offered.
Should you not complete on an offered mortgage due to a purchase falling through or because you have changed your mind we reserve the right to invoice for the amount of commission that would have been received from the lender.
Fee only:
Typically 1% of the total mortgage loan with 50% payable on application & subject to a minimum fee of £1,000.00. 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, the fee on a £120,000 mortgage would be £1,200.00 on a fee only basis.
You should be aware that complex cases, such as Self-Build mortgages will require an additional or higher fee but this will always be agreed in advance.
Refund of fees:
You will receive a full refund of any fees paid should the lender 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 the purchase falls through. In such situations we may be able to assist by transferring the fee to a new application.
We do not normally offer a ‘fee option’ in respect of any non-investment protection insurance business. We are paid by commission from the selected provider which will have an ‘initial earnings period’ of up to four years. If the contract is cancelled within the initial earnings period the insurer will always reclaim any outstanding commissions which will be invoiced to you.
Should you feel that you may not keep an insurance contract for the initial earnings period we can explore other fee options. We are also remunerated by commission in respect of general insurance but there are no initial earnings periods applicable.
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.
We will also make arrangements for all your contracts to be registered in your name unless you first instruct us otherwise in writing. We will forward you all documents showing ownership of any policies as soon as it’s practical after we receive them. Where a number of documents are due, involving a series of transactions, we normally hold each document until the series is complete, then forward them to you.
We will inform you of your statutory right to cancel. The Distance Marketing Directive normally grants you 30 days in which you may cancel a life contract. With all mortgages & some other contracts there will be occasions where no statutory rights are granted, however, this will be explained before any contract is concluded.
With regard to a cancellation of any non-investment insurance contract after the statutory cooling off period, we reserve the right to charge you a fee equivalent to the amount of any commissions that we have to repay to the product provider. This could be for a period of up to four years after the policy start date.
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.
