Terms of Business
About this document - This document outlines our terms of business it is given to consumers considering buying certain financial products. Please read it in its entirety as it explains the service you are being offered and the costs associated with it.
By choosing to transact business with us, you are agreeing to accept our terms of business and both parties will be bound by the terms laid out in this document.
Regulation - Compare The Policies (CTP) is a trading style of TRM Financial Ltd which is an Appointed Representative of The Right Mortgage Limited, who are authorised and regulated by the Financial Conduct Authority under reference 725622, for general insurance, private medical insurance, pure protection, equity release and mortgage business. You can check our details and our regulatory permissions via the Financial Services Register at: register.fca.org.uk/ or by contacting the FCA on 0800 111 6768.
Our Status - Compare The Policies (CTP) is a trading style of TRM Financial Ltd whost company number is: 09832887. Our registered Office: St Johns Court, 70 St Johns Close, Knowle, Solihull, B93 0NH.
Advice - We offer an advised service for Mortgages and Insurance. We will advise and make a recommendation for you after we have assessed your needs.
If you are purchasing (or remortgaging) a buy to let property, we will only advise you on the mortgage arrangements; we will not provide advice on the tax or investment elements of the transaction. Should you require tax or investment advice, you should seek this from a suitably authorised and qualified individual.
Insurance Products - We offer products from a range of insurers for pure protection (non-investment) insurance contracts. E.G. Life, Critical Illness and Income Protection Insurances.
We offer products based upon a fair analysis of general insurance providers for:
- Property, contents, personal possessions cover;
- Accident, sickness & unemployment cover;
- Private medical insurance cover.
A list of the insurers with whom we transact business is available on request.
What we will do – We will:
- Communicate clearly, promptly and in plain English;
- Explain all costs involved before they are incurred;
- Evaluate your needs before making a recommendation;
- Review the market from our list of providers to recommend the most suitable product and provider for your needs and circumstances;
- Deal with reputable providers of mortgage and insurance products; however, we cannot be responsible for their levels of service, including any delays in processing of your application caused by the product provider. Of course, we will work to mitigate these wherever possible.
What we will not do – We will not:
- Provide a decision in principal before conducting a thorough review of your circumstances and needs (fact find) and obtaining sufficient supporting information to assist the application;
- Act without first obtaining your permission to do so;
- Cause you to incur costs without your prior agreement to proceed.
How we will Operate -
During our initial consultation we will complete a client questionnaire (fact find) to enable us to better understand your circumstances and your needs; this enables us to give appropriate advice on your [Mortgage] and [Protection] needs. A copy of this questionnaire is available for you to review upon request.
- No fee is payable for our service in relation to insurance contracts;
- We will be paid commission by the insurer.
Complaints - If you wish to register a complaint, please contact us:
In writing: The Right Mortgage Limited, St John’s Court, 70 St John’s Close, Knowle, B93 0NH.
By phone: 01564 732 744
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service: www.financial-ombudsman.org.uk
Your Responsibilities - It is your responsibility to deal with us in an honest and transparent manner. Failure to disclose key facts that relate to your personal circumstances could significantly influence the advice given. In some circumstances failure to disclose information could impact upon your ability to obtain the most suitable product and could even invalidate the product, such as in the event it is interpreted as material non-disclosure that could be considered to be a fraudulent act.
If you have any doubts as to whether you should disclose a matter it is better to notify the provider and allow them to make an informed decision.
It is also your responsibility to check that the product provided is as you expected, therefore you should check the application and ‘offer’ document on a mortgage and the application and policy document on an insurance policy. If it is not as expected, please notify your adviser immediately.
The Financial Services Compensation Scheme (FSCS) - We are covered by the Financial Services Compensation Scheme (FSCS) for our insurance mediation activities. 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. If you are eligible to claim from the FSCS, compensation is available in relation to insurance advising and arranging as follows:
- 90% of the claim, without any upper limit;
- 100% of the claim without any upper limit for
- compulsory classes of insurance (such as Third-Party Motor or Employers Liability); and
- ‘pure protection’ contracts, professional indemnity insurance, and general insurance claims arising from the death or incapacity of the policyholder owing to injury, sickness or infirmity, all where the insurance intermediary has failed to pay money to an insurer, pay away money it has received from an insurer, or has failed to take steps to allow the insurer to effect the contract of insurance.
Further information about compensation scheme arrangements is available from the FSCS on 0800 678 1100 (freephone) or 020 7741 4100 or www.fscs.org.uk.
Cancellation Rights -
Depending on the product provided you will have different cancellation rights; these will be explained to you as part of our advisory process and will be disclosed to you by the provider in their communications also. It is your responsibility, however, to exercise these rights in a timely fashion; we cannot do this on your behalf.
Client Money -
WE DO NOT HANDLE CLIENT MONEY. We will not accept any cheque other than for the payment of your fee, any third party payments must be made by you to them. Under no circumstances will we handle cash.
Call Recording -
Telephone calls made to TRM Financial Ltd may be recorded and used for training and/or regulatory purposes.
Conflicts of Interest -
We undertake not to transact business where we believe that to do so could result in a conflict of interest. Where we believe that our interests conflict we will notify you in writing first and outline the basis upon which we are prepared to proceed. The decision to proceed will be yours however.
Confidentiality & Data Protection - All personal and sensitive information about our customers (‘personal data’) is treated as private and confidential. Unless we are notified of any changes, we shall assume the personal data we hold about our customers is correct. In the interest of security and to improve our service, telephone calls may be monitored and/or recorded for training purposes.
Where we process personal data, we comply with statutory data processing requirements as set out by the Data Protection Act 2018. The personal data we will collect will include information relating to your name, address, date of birth, contact details and your health.
We will process your personal data to allow us to provide you with our services in order to facilitate your financial planning needs. Your personal data will also be used to manage future communications between ourselves. Where you have agreed, or in circumstances where to do so will be in our mutual interests, your personal data will be used to provide you with further information about our wider products and services. You can opt out from receiving such communications by contacting us.
In processing personal data, for financial planning purposes, about your health or medical history, we will only do so to enable us to provide our service to you.
The Data Protection Act 2018 provides you with Access Rights that allow you to gain an understanding on the data being processed, who we share it with, for what purpose, why we need to retain it and retention periods, to object to the processing and to place restrictions on the processing, to request copies of your data and to request the deletion of your data.
If you require further information on how we process your data, or you wish to exercise your rights, please contact our Data Protection Officer on firstname.lastname@example.org
Credit Search – Other firms involved in arranging your insurance (insurers) or premium finance companies may use public and personal data from a variety of sources including credit reference agencies and other organisations. The information is used to help tailor a price, to ascertain the most appropriate payment options for you and to help prevent fraud. Any credit reference search will appear on your credit report whether or not your application proceeds.
We will not cause you to incur a credit search without first notifying you.
Quotations - All quotations are subject to change in respect of the amount of premium indicated and/or the Terms and Conditions that are applied.
Policy Terms, Conditions & Warranties - You should read through all policy terms, conditions and warranties shown on your policy documentation. Please ensure you understand them and are able to follow their requirements exactly. If not, please inform us immediately as a breach of any Terms, Conditions or Warranties may enable your Insurers to terminate your policy from the date of that breach and/or repudiate a claim under your policy.
Claims handling arrangements - You should take note of the required procedures in the event of a claim, which will be explained in the policy documentation. Generally, our insurers require immediate notification of a claim or circumstances which might lead to a claim. We will employ due care and skill if you request that we act on your behalf in respect of a claim.
Governing Law - This agreement shall be governed by the laws of England and Wales and the parties agree herewith that any dispute arising out of it shall be subject to the (non) exclusive jurisdiction of the English Courts.Compare The Policies (CTP) is a trading style of TRM Financial Ltd which is an Appointed Representative of The Right Mortgage Limited, who are authorised and regulated by the Financial Conduct Authority under reference 725622. Registered in England and Wales No: 09832887. Registered Office: St Johns Court, 70 St Johns Close, Knowle, Solihull, B93 0NH. Registered with Information Commissioner (Data Protection) Office under Registration No. ZA159490.