Terms of Business
This document outlines our terms of business. You need to read this important document as it explains the service you are being offered and how you will pay for 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. RM Mortgage Solutions is a Limited Company and is registered in England & Wales under no: 08175984.
RM Mortgage Solutions Ltd are authorised and regulated by the Financial Conduct Authority (FCA) for Mortgage, Pure Protection (Life Assurance, Critical Illness Cover & Income Protection) and General Insurance business.
You can check our details and regulatory permissions via the Financial Services Register at https://register.fca.org.uk or by contacting the FCA on 0800 111 6768. Our FCA reference number is 911918.
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 re-mortgaging) 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.
Mortgage (Home Finance) Products
We offer a comprehensive range of first charge & second charge Mortgages from across the market and do not place any restrictions on the mortgages we have access too.
However, we may not be able to administer applications that are only available directly from a lender and may also be restricted in being able to assess how your circumstances meet those lenders criteria due to the limited information they provide.
We offer products from a range of insurers for Pure Protection insurance contracts –
- Life Insurance
- Critical Illness
- Income Protection Insurance (Sick Pay)
We offer products based upon a fair analysis of Insurance providers for:
- Home Insurance (Property, Contents & Personal Possessions cover)
- Accident, Sickness & Unemployment cover
Costs & Fees for our Services
Mortgage (Home Finance) Products
- The fee that will be charged varies depending upon the type of transaction you are considering and your personal circumstances. The actual fee chargeable will be confirmed once we have assessed your situation and will also be provided in a Client Agreement letter.
- No Fee is payable for our service in relation to insurance contracts as we will be paid a commission by the Insurer.
Getting to know You
During our initial consultation we will complete a client questionnaire (Factfind) to enable us to better understand your circumstances and your needs; this enables us to give appropriate advice on your Mortgage and Protection needs.
We will subsequently conduct research to establish what products are most appropriate for your needs and make these recommendations to you. These recommendations will be confirmed in writing. You will also be provided with an illustration regarding the product(s) recommended.
What we will do
- Explain all costs involved before they are incurred;
- Evaluate your needs before making a recommendation;
- Review the market from available providers to recommend the most suitable product for your 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.
What we will not do
- Provide an Agreement in Principle before conducting a thorough review of your circumstances and needs (Factfind) 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.
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 e.g. 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 mortgage offer documents on a mortgage; and the application and policy documents on an insurance policy. If any are not as expected, please notify your advisor immediately.
We will normally accept your instructions verbally or in writing (including electronic communication). However, we always recommend that all instructions are provided in writing for the avoidance of misunderstandings.
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 also be disclosed to you by the provider in their communications. It is your responsibility, however, to exercise these rights in a timely fashion; we cannot do this on your behalf.
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. You will then need to make the decision whether or not you wish to proceed.
If you wish to register a complaint, please contact us:
In writing: RM Mortgage Solutions, Electric House, Ninian Way, Tamworth, B77 5DE.
By phone: 0121 468 3322
A summary of our internal 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 0234 567.
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.
Mortgage advising and arranging is covered for 100% of the first £50,000 so the maximum compensation is £50,000 per person per firm.
Insurance advising and arranging is covered for 90% of the claim without any upper limit. For compulsory classes of insurance, insurance advising and arranging is covered for 100% of the claim, without any upper limit.
Further information about compensation scheme arrangements is available from the FSCS. Visit www.fscs.org.uk or 0800 678 1100.
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.
Last updated: 30th March 2023