About This Document
This document outlines 21Finance’s terms of business. We will ask you to sign out Mortgage and Insurance Terms of Business to confirm that you have received a copy of the Client Privacy Notice and this document. Should you choose to proceed with our services, in doing so, you accept our Terms of Business and both parties will be bound by the terms laid out below. This agreement is governed and shall be construed in accordance with the Law of England and the parties shall submit to the exclusive jurisdiction of the English Courts. 21Finance Ltd shall not be in breach of this Agreement and shall not incur any liability to you if there is any failure to preform its duties due to any circumstances reasonably beyond its control.
The Financial Conduct Authority
21Finance Limited 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. Our Financial Services Register number is 927989.
Our Services
We will advise and make a recommendation after we have assessed your needs for mortgages and pure protection. WE do not offer an execution only service.
- Mortgages – Residential, Buy to Let including Consumer and Business, Commercial Mortgages and Bridging Finance.
- Personal & Family Protection – Life Insurance, Critical Illness Colver, Income Protection, Accident Sickness and Unemployment (ASU)
- General Insurance – Building, Contents, Landlord Insurance & Private Medical Insurance.
We offer a comprehensive range of first charge mortgages from across the market, but not deals that you can only obtain by going directly to the lender. A list of the lenders on our panel is available on request. 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. During the initial consultation we will complete a Client Fact Find to enable us to give appropriate advice on your mortgage and other related insurance products. If you are seeking to borrow additional funds, the main options are – a further advance from the existing lender; a first charge re-mortgage; a second charge mortgage; or unsecured lending. Where the lender permits us to arrange a further advance on your behalf, we will consider whether this is appropriate as part of our advice. Where the lender will only offer a further advance directly, whilst it may be more appropriate, we cannot consider this as part of our advice.
For Protection and Insurance contracts we are an intermediary and will act on your behalf when providing advice and making our personal recommendations(s) to you. We will do this based on a fair and personal analysis of insurers for term assurance, income protection, critical illness, buildings and/or contents, private medical insurance, accident – sickness and unemployment cover. 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 for protection or insurance we will provide you with specific details regarding your cancellation rights.
IMPORTANT INFORMATION
Before you consider our services in more detail, we would like to draw your attention to the following important information:
When we have discussed and agreed with you the services that we are to provide we will confirm this to you in our Client Fee Agreement. This will describe the scope and specific services to be provided, the cost and how it can be paid for.
We will also issue you with a copy of our Privacy Notice which confirms how will collect, use, and store your personal information that we collect from you in the course of providing our services.
From time to time, it may be necessary for us to collect personal information from you, prior to concluding a written Client Fee Agreement to assess whether ww are able to meet your needs. In this event we will clearly identify the data to be collected and will use it only for the propose of assess out ability to provide services to you.
We will not advise you if you are experiencing difficulties managing debt. Free help and advice about managing debts is available by contacting the Money Advice Service. www.moneyadviceservice.org.uk
The Costs of our Service
Mortgages
Our fee structure is detailed as below and dependent on your personal and financial circumstances.
- Initial Personal Financial Review (Fact Find Meeting) – Free
- Extensive Product Research, Presentation and Recommendation, Processing of Application, Suitability Report detailing your current situation and suitability of recommendation:
- Commitment Fee of £99 for Standard Cases or £300 for Complex Case (for example: adverse credit/complex employment/self-employment history etc)payable prior to submission of application.
- Broker Fee of £299 for Standard Case or £500 for Complex Cases (for example: adverse credit/complex employment/self-employment history etc)
- payable of receipt of mortgage offer.
We will receive and retain any commission paid by the lender when your mortgage completes. This amount will be confirmed by the lender in their disclosure document.
Should you wish you can request to view the commission rates from each of the lenders we have considered at the time that we make our recommendation to you.
Fees must be paid:
Via bank transfer to NatWest, sort code 60-60-08, account number 56531354.
Important Notice: We cannot accept payment by cash or bank transfer to any other bank account other than the account details stated above.
Refund of fees
Please note our fee will still be charged should the lender reject your mortgage application due to you not disclosing any material information about your personal situation. It should also be noted we do not provide a refund should you decide not to proceed with the mortgage loan after we have made a recommendation to you.
Non-Investment Protection and General Insurance Contracts
We do not charge a fee as we will receive commission from the provider/insurer 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.
Cancellation rights
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.
Instructions
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.
Complaints
If you wish to register a complaint, please write to 21Finance Ltd, Complaints, 21 West Street, Gravesend, Kent, DA11 0BF or email complaints@21finance.com or telephone 01474334488.
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.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.
Compensation Scheme
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
Client Verification
We may be required to verify the identity of our clients, to obtain information as to the purpose and nature of the business which we conduct on their behalf, and to ensure that the information we hold is up-to-date. For this purpose we may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning.
Law
This agreement is governed and shall be construed in accordance with the Law of England and the parties shall submit to the exclusive jurisdiction of the English Courts.
Force Majeure
21Finance Ltd 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.
Termination
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.
