These Terms of Business set out the general terms under which Penco Capital Wealth Advisory Limited t/a Penco, Which Mortgage (hereinafter referred to as “Which Mortgage”), trading from The Black Church, St Marys Place, Dublin 7, will provide business services to you and the respective duties and responsibilities of both Which Mortgage and you in relation to such services.
Please ensure that you read these terms thoroughly and if you have any queries, we will clarify them. If any material changes are made to these Terms of Business, we will notify you.
Which Mortgage is authorised by the Central Bank of Ireland (‘Central Bank’) as an Investment Intermediary under the Investment Intermediaries Act, 1995; is registered as an Insurance Intermediary under the European Union (Insurance Distribution) Regulations, 2018; and a Mortgage Credit Intermediary under Regulation 30 of the European Union (Consumer Mortgage Credit Agreements) Regulations, 2016.
A copy of our authorisation is available on request. Our authorisation can be verified by contacting the Central Bank on 1890 777 777 or on the Central Bank website www.centralbank.ie. Our Company Registration number is 92510, and our Central Bank reference number is C1264.
Which Mortgage is subject to the following Codes of Conduct issued by the Central Bank:
1. Consumer Protection Code 2012 (as amended)
2. Minimum Competency Code 2017
3. Fitness and Probity Standards
It is also subject to Prudential Handbook for Investment Intermediaries.
These Codes offer protection to our clients and all the Codes can be found on the Central Bank’s website: www.centralbank.ie.
The scope of our authorisation covers providing advice and arranging transactions on behalf of clients in relation to mortgages, and recommending which mortgage products are suitable to your needs.
We are a boutique broker and do not have a “tied” relationship with any institution that would compromise our ability to offer you impartial advice and choices.
In all transactions, we will endeavour to:
a) Act honestly and fairly in conducting our business activities in the best interests of our clients and the integrity of the market.
b) Comply with all regulatory requirements applicable to the conduct of our business activities, to promote the best interests of our client.
Through the lenders with which we hold an agency, Which Mortgage can provide advice on and arrange mortgage products from the following range: switcher, fixed-rate, variable rate, capital and interest mortgages, endowment mortgages, pension mortgages and residential investment properties.
We provide mortgage advice on mortgages from the following lenders we have agencies with:
We will need to collect sufficient information from you before we can offer any advice on housing loans. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such information should be produced promptly at our request.
NB: During your engagement with Which Mortgage, you will be presented with mortgage rates from lenders we hold agencies with. These rates will be at a particular point and for illustrative purposes. Once you progress with a chosen lender, the product type included in your loan offer will show the corresponding rate at the time of loan offer. However, it must be noted that should rates increase or decrease from the time of loan offer to mortgage draw down, the rate that will apply to your mortgage is the actual rate applicable from your chosen lender at draw down of your mortgage.
We are committed to helping you. If you require any additional assistance because of vulnerability, please let us know. We will provide assistance to you for any queries you may have in relation to the policies or in the event of a claim during the duration of the policy, and we will explain to you the various restrictions, conditions and exclusions attached to your policy. You are, however, responsible to thoroughly read policy documents, literature, and brochures, including key features documents and terms and conditions to ensure that you understand the nature of the policy cover.
We receive commissions of up to 1% on the value of the loan for arranging mortgage finance. This commission is paid by the mortgage lender. The actual amount of commission will be disclosed at a later stage in the ESIS (European Standardised Information Sheet) which you will receive at loan offer stage.
Please note that certain lenders may charge a fee, and if this applies, this fee will be specified in the lender’s Loan Offer. You have the right to pay this fee separately and not have it included in the loan. Typically, this situation arises in relation to specialist lending.
We may earn a minor non-monetary benefit which we will only accept if it enhances the quality of our service to you. For example: attendance at a product seminar or assistance with branding, IT support, etc.
A summary of the details of all arrangements for any fee, commission, other reward or remuneration paid or provided to us by the lenders is available on our website: https://whichmortgage.ie/about/remuneration-summary
It is in your best interest that you regularly review the products which we have arranged for you because as your circumstances change, your needs may change. You must advise us of those changes and request a review of your product 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 in relation to changes in your circumstances or failure to request a review, may result in you having a product which may no longer be suitable for you due to changes in your needs and circumstances.
It is our policy to avoid any conflict of interest when providing services to our clients. Where a conflict of interest should arise, we will make you aware thereof and will not proceed with the service until you are satisfied that any such conflict of interest has been removed. A copy of our Conflicts of Interest Policy is available on request.
We aim to always provide the best possible service to you. In the event that you are dissatisfied with the service you have received, we have in place a written procedure for the consideration and handling of complaints. Such complaints should preferably be addressed in writing to Complaints, Which Mortgage, at The Black Church, St Mary’s Place, Dublin 7, or at [email protected].
We will acknowledge your complaint within 5 business days and investigate the complaint as promptly as possible. We shall provide you with updates at intervals of not greater than 20 business days, starting from the date on which the complaint was received. A final response to your complaint will be issued within 40 business days of receipt of the complaint.
If you are dissatisfied with the handling of and/or the response to the complaint, you may refer the matter to the Financial Services and Pensions Ombudsman, 3rd Floor Lincoln House, Lincoln Place, Dublin 2 (01 567 7000 / [email protected] / www.fspo.ie). A full copy of our Complaints Procedure is available on request.
Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments. Your home is at risk if you do not maintain your agreed repayments.
As a data controller, we are subject to the requirements of the General Data Protection Regulation (EU) 2016/679 (‘GDPR’) and the Data Protection Acts 1988 – 2018 (as may be amended). We are committed to protecting and respecting your privacy. We wish to be transparent on how we process your data and show you that we are compliant with GDPR in relation to processing your data and ensuring you understand your rights as a data subject.
We will generally collect your personal data in order to provide services to you and we will only process your personal data in relation to our Privacy Notice which is available online at www.whichmortgage.ie. If this medium is not suitable, we will provide you with a hard copy upon request. Please contact us at [email protected] should you have any questions or concerns about your personal data.
Call Recording – all inbound and outbound telephone calls, as well as video calls, are recorded and monitored for regulatory, quality and training purposes.
The Black Church, St. Mary’s Place, Dublin 7
Phone 01 8826100
[email protected]
Copyright © 2016-2022 Penco.
All Rights Reserved Penco Capital Wealth Advisory Limited Ltd T/a PENCO is regulated by The Central Bank of Ireland.
Registered in Ireland. Company Reg No. 92510
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