Terms of Business
1
The Financial Conduct Authority (FCA)
The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be given to consumers considering buying certain financial products. You need to read this important document. It explains the service you are being offered and how you will pay for it.
2
Whose products do we offer?
Insurance
We offer products from a range of insurers for Non-Investment Life Assurance, Critical Illness Cover, Income Protection and Home Insurance. Regulated Mortgage Products
Regulated Mortgage Products
We offer a comprehensive range of mortgages from across the market, but not deals that you can only obtain by going direct to a lender. We are not limited in the range of mortgages we will consider for you. We offer first charge mortgages and have a referral service for second charge mortgages.
3
Which service will you provide us with?
Insurance
We will advise and make a recommendation for you after we have assessed your needs for Non-Investment Life Assurance, Critical Illness Cover, Income Protection and Home Insurance.
Regulated Mortgage Products
We will advise and make a recommendation for you after we have assessed your needs for regulated mortgage products. We offer first charge mortgages and have a referral service for second charge mortgages.
4
What will you have to pay us for our service?
Insurance
No fee for Life Insurance, Critical Illness products and Non-Investment Insurance Contracts. You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.
Mortgages
No fee is payable for mortgages with a value above £300,000.
£249 is payable on application for mortgages with a value between £200,000 and £300,000.
£495 is payable on application for mortgages with a value below £200,000.
We will also be paid commission from the lender.
The amount of commission we receive varies from lender to lender. You will receive an illustration when considering a particular mortgage which will highlight the key facts about the mortgage product, including any fees relating to it and the amount of any commission due to us from the mortgage lender.
If we charge you a fee, and your mortgage does not go ahead, you will receive no refund.
5
Who regulates us?
FP Finance is a trading style of UMARI Finance Group Limited, registered office 124 City Road, London, EC1V 2NX is authorised and regulated by the Financial Conduct Authority. Financial Services Register number 994960.
Our permitted business is providing Mortgage Advice, Non-Investment Protection or Insurance contracts and General Insurance.
You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/firms/systems-reporting/register or by contacting the FCA on 0800 111 6768.
6
What to do if you have a complaint
If you wish to register a complaint, please contact us:
in writing
UMARI Finance Group Limited
124 City Road
London
EC1V 2NX
by phone
0207 078 4181
We will do our best to resolve your concerns however, if we do not resolve the complaint to your satisfaction, you may be entitled to contact The Financial Ombudsman Service (FOS) at:
Exchange Tower
Harbour Exchange Square
Isle of Dogs
London
E14 9SR
Phone: 0800 023 4567 or 0300 123 9123
E-mail: complaint.info@financial-ombudsman.org.uk
Website: www.financial-ombudsman.org.uk
7
Are we covered by the Financial Services Compensation Scheme (FSCS)?
We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations. This depends on the type of business and the circumstances of the claim.
Insurance
Long Term Insurance Contracts
Arranging and advising on long term insurance contracts (e.g. a life insurance or critical illness policy) is covered for 100% of the claim without upper limit.
General Insurance Contracts
Arranging and advising on compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.
Arranging and advising on other types of general insurance contracts (e.g. Buildings & Contents) is covered for 90% of the claim, without any upper limit.
Mortgages
Arranging and advising on mortgage products is covered up to a maximum limit of £85,000 per person per firm.
What is not covered?
Unregulated mortgages, such as Buy to Let, Bridging and Commercial Mortgages are not covered by FSCS.
Further information about the FSCS is available from their website: www.fscs.org.uk.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Some buy to let and investment mortgages are not regulated by the Financial Conduct Authority.
Terms of Business Privacy Policy Making a Complaint
FP Finance is a trading style of UMARI Finance Group Limited which is authorised and regulated by the Financial Conduct Authority and is entered on the FCA register (www.fca.org.uk) under reference 994960. Registered office: 124 City Road, London, EC1V 2NX. Registered in England and Wales Number: 14439156.
.png)