1. This agreement is issued on behalf of Rite Money Ltd of 11 Grosvenor Terrace
Glasgow, G12 0TB who can be contacted at 0141 345 2015.
Authorisation Statement
Rite Money Ltd is Authorised and Regulated by the Financial
Services Authority. The Financial Conduct Authority (FCA) 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 on the FCA’s Register by visiting
the FCA’s website www.fsa.gov.uk/register FCA No. 587 710 or by contacting
the FCA on 0845 606 1234.
2. Commencement of Terms of business
The Financial Services and Markets Act 2000, requires that we explain the main
aspects of the way we operate, and how this affects you, the client. This terms
of business will be effective from the date of receipt but may be amended by us
following any initial interview intended to ascertain your current financial
situation, objectives, and attitude to financial risk. Any such amended Terms of
business will be sent to you within 10 working days of that interview. However,
irrespective of any amendments arising from such interviews, we reserve the
right to amend the terms of this letter without your consent, but we will give at
least 10 business days notice before conducting relevant business, unless we
consider it to be impracticable to do so under the circumstances at that time.
3. Client Monies
WE DO NOT HANDLE CLIENT MONIES. All cheques for premiums of any kind
and valuation fees, etc. must be made payable to the Life Office, Lender,
Insurance Company or other relevant Companies.
4. Mortgage and Insurance Objectives
Following the issue of this letter, any subsequent advice or recommendation
offered to you will be based on your stated objectives, acceptable level of risk
and any instructions you wish to make regarding the type of mortgage or
insurance policies you are willing to consider. Details of your stated objectives
will be included in the Suitability Report or Demands and Needs Statement we
issue to you confirming the reasons for our recommendations.
5. Restrictions
Unless advised to the contrary, we will assume that you wish to place no
restriction on the types of mortgages or insurances we may recommend and in
which you may subsequently invest.
Furthermore, unless advised to the contrary, we will assume that you wish to
place no restriction on the markets in which transactions are to be executed.
A full listing of products is available from your adviser upon request.
6. Your protection
In most cases you can exercise a right to cancel, by withdrawing from the
contract recommended to you. In general terms you will have a 30 day
cancellation period for a pure protection policy and a 14 day cancellation period
for a general insurance policy. Please note that in most instances
you will not be able to exercise a right to cancel a mortgage contract, unless the contract is concluded at a distance (i.e. no face to face
advice), at which point you will have a 14 day cancellation period. Additionally,
any contracts arranged at your explicit consent (normally referred to as
“execution only”) do not provide cancellation rights.
The start of the cancellation period will normally begin, for pure protection
policies, when you are informed that the contract has been concluded or, if
later, when you have received the contractual terms and conditions.
Instructions for exercising the right to cancel, if applicable, will be contained in
the relevant product disclosure information which will be issued to you.
7. Client Categorisation
The Financial Conduct Authority has a number of different classifications of
client, which have differing levels of regulatory protection. We believe in
providing our clients with full regulatory protection and we have, therefore,
classified you as follows in respect of the following types of business.
Insurance Business: A Consumer (from Consumer and Commercial); and
Mortgage Business: A Customer (from Customer or Large Business Customer).
8. Services which are not regulated by the Financial Conduct Authority
Some of the services provided by us may be not regulated by Financial Services
Authority since they are not included within the Financial Services and Markets
Act 2000. Where we intend to provide advice in relation to unregulated
activities, we will confirm to you what these services are and the fact that they
are not regulated by the Financial Conduct Authority.
9. Client Relations
When you have instructed us to arrange a specific contract or contracts no
further advice will be given unless it is requested by you or we have an
agreement confirmed in writing to provide periodic reviews. We will, however, if
no agreement is in place be pleased to advise you at any time should you
require further assistance.
10. Personal Interests
Occasions can arise where we, or one of our other customers, will have some
form of interest in business which we are transacting 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 inform you in writing and obtain your consent
before we carry out your instructions.
11. Calls
In addition to making calls at your express invitation, we may call on you at
intervals to review your requirements. This will not affect any statutory right of
cancellation you may have. Calls will not be made on a Sunday or between 9pm
and 9am on any other day.
12. Advice and Instructions
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 provided they are confirmed in writing.
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 contract
notes, vouchers and entries in our books or computerised records relating to
your transactions. We reserve the right to withhold copies of these records if
information pertaining to other parties would be disclosed.
13. Complaints
If you wish to register a complaint, please write to Rite Money Ltd, 11 Grosvenor
Terrace, Glasgow, G12 0TB or telephone 0141 345 2015.
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.
14. Termination
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.
15. Law
This Terms of business is governed and shall be construed in accordance with
English Law and the parties shall submit to the exclusive jurisdiction of the
English Courts.
Force Majeure
Rite Money 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.
16. Data Protection
The information you have provided is subject to the Data Protection Act 1998
(the “Act”). 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 Services 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 responsible steps to ensure the privacy of
your information. We may also contact you or pass your details to other
companies associated with us to contact you (including by telephone) with
details of any other similar products, promotions, or for related marketing purposes in which we think you may be interested. The information provided
may also contain sensitive personal data for the purposes of the Act, being
information as to your physical or mental health or condition; the committing or
alleged committing of any offence by you; any proceedings for an offence
committed or alleged to have been committed by you, including the outcome or
sentence in such proceedings; your political opinions, religious or similar beliefs,
sexual life; or your membership of a Trade Union.
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 0141 345
2015 or in writing at Rite Money Ltd, 11 Grosvenor Terrace, Glasgow, G12 0TB.
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. You may be charged a fee (subject to
the statutory maximum) for supplying you with such data.
17. Material Interests
In accordance with the rules of our regulator, The Financial Conduct Authority, we
are prohibited from accepting any payment (commission or other non-monetary
benefits) which is likely to conflict with the duty of the firm to its clients.
Credit Search
By agreeing to this statement, you confirm that you have consented to Rite Money Ltd instructing a lender to:
a) carry out searches at the Credit Reference Agencies to verify any information and to asses the enquiry and understand that
i) information held about them at the Credit Reference Agencies may be linked with the applicant(s) financial partner(s)i)
ii) information given about another applicant is accurate and that all applicant(s) have consented to any other applicant(s) disclosing their personal data for the purposes set out therein
iii) information about joint applicants will be linked at the Credit Reference Agencies
b) verifying any information the applicant(s) have provided. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering
c) taking up references
d)recording any information provided for the purpose of processing the applicant(s) enquiry
Information held about you by the Credit Reference Agencies may already be linked to records relating to one or more of your financial partners. For the purpose of this application you may be treated as financially linked and your application will be assessed with reference to any associated records.
Please note.
Lenders may use a 'credit scoring' or other automated process in deciding whether to accept your application and during the life of your account, for example to review your secured debt and/or the interest rate and other charges on your account (all of which may be varied by the them). This may involve searching your records again at Credit Reference Agencies (who will keep records of the lenders search) as well as using other information they hold about you. If you are made aware that a Notice of Correction and/or Notice of Dispute has been filed with a Credit Reference Agency, please notify us immediately. In order to comply with the Data Protection Act, all such applicants must be manually reviewed.
Any decision in principal give, will be subject to the lenders final underwriting approval.
