Terms of Business
These terms of Business set out the general terms under which our firm will provide services to you and the respective duties of both the firm and you in relation to such services. Please ensure that you read these terms thoroughly and if you have any queries we will be happy to clarify them. If any material changes are made to these terms we will notify you.
Authorisation with the Financial Regulator:
Frances O’Hanlon Mortgages & Investments Limited is regulated by the Central Bank of Ireland as a Multi-Agency Intermediary authourised under the Investment Act, 1995 to undertake insurance mediation under the European Communities (Insurance Mediation) Regulations, 2005 and to act as a Mortgage Intermediary authorised under the Consumer Credit Act, 1995. Copies of our regulatory authorisations are available on request. The Financial Regulator holds registers of regulated firms. You may contact the Financial Regulator on 1890 200 469 or alternatively visit them on their website www.financialregulator.ie to verify our credentials.
Frances O’Hanlon Mortgages & Investments Limited has offices at the following location: 6 Dr. Croke Place, Clonmel.
T: 052-29487/29508
F: 052-29497
E: foh@foh.ie
SERVICES PROVIDED
• As an Insurance Intermediary we are authorised to advise you in relation to a wide range of Insurance Products.
• We research the product of the Insurance Companies we hold appointments with, on your behalf. We then identify and assess the suitability of the products on offer to meet your current needs.
• As a Mortgage Intermediary we can provide you our client with Mortgage advice through the appointments held by our firm. We have access to the balance of mortgage providers through our appointment with Phoenix Buildings & Loans Ltd
• A full list of the Insurance Company’s and Mortgage Providers we hold a written appointment with is available on request
Remuneration Structure
We are remunerated for the business services we offer you our client in a number of ways:
• by the Insurance Company’s with whom we place business in the form of a commission payment
• by the Mortgage Providers with whom we place mortgage business (0.5% to a max of 1%)
• by you directly in the form of a fee which we will discuss and agree in advance of all transactions.
Regular Reviews:
It is in your best interests that you review, on a regular basis, the products which we have arranged for you. As your circumstances change, you needs will change. You must advise us of those changes and request a review of the relevant policy so that we can ensure that you are provided with up to date advice and products best suited to your needs. Failure to contact us of any changes in your circumstances, or request a review, may result in you having insufficient insurance cover and/or inappropriate investments.
Premium Handling
When receiving and transmitting orders we will accept payments in cash and by cheque where;
• An insurance undertaking has invited renewal of a policy of Insurance
• A proposals for insurance &/or PRSA has been accepted by an insurance undertaking
We are not authorised to accept cash or negotiable instruments in any other circumstances
Conflicts of Interest
Our employees are required to comply with a policy of independence and disregard any conflict of interest when making a recommendation to you. However, where an unavoidable conflict of interest arises we will advise you of this in writing before providing you with any services.
Duty to Disclose Information
It is your responsibility to provide complete and accurate information for insurers when arranging an insurance policy and to mortgage providers when arranging mortgage finance. Failure to disclose any material information to your insurers could invalidate your insurance cover: all or part of a claim may not be paid.
Complaints Procedure
We have a written complaints procedure for the effective handling of all complaints • We will acknowledge receipt of your complaint in writing within 5 working days
• A written up date will be issued to you every 20 days by a nominated individual within our firm
• A comprehensive response to your complaint will be issued within 8 weeks of receipt of your initial complaint
• In the event of any failure to resolve your complaint you may raise this matter with the Financial Services Ombudsman Bureau Lo Call: 1890 – 88 20 90 enquiries@financialombudsman.ie
• Our full Complaints Procedure is available on request
Compensation Scheme
We are members of the Investor Compensation Scheme established under Section 38 of the Investor Compensation Act 1998. The Act provides that compensation shall be paid to eligible investors (as defined in the Act) to the extent of 90% of an investor’s net loss of €20,000, whichever is the lesser and is recognised as being eligible for compensation. Further information is available on request.
Data Protection
We collect your personal details in order to provide the highest standard of service to you. We take great care with the information provided; taking steps to keep is secure and to ensure it is used only for legitimate purposes. To fulfil these objectives we may share information with other affiliated professionals. The information and other data provided to our office may be used to advise you of products and services we may offer from time to time.
You have the right at any time to request a copy of any ‘personal data’ within the meaning of the Data Protection Act 1988 (as amended or re-enacted from time to time) that our office holds about you and to have any inaccuracies in that information corrected.
Failure to Pay or Default
Product producers may withdraw benefits or cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your policy terms and conditions. We will also exercise our legal right to receive any payments due to us for business services provided in the event of a default in payment.
Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you don’t maintain your agreed repayments.
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