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Terms of Business

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Information about our services and costs:

1. The Financial Conduct Authority (FCA)

The FCA is the independent watchdog that regulates financial services. This document has been 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

Life insurance, critical illness, household, accident sickness and unemployment, private medical, permanent health, public liability and commercial insurance.
We can offer products from a range of insurers for non-investment insurance contracts.

Mortgages

New purchase, first-time buyer, re-mortgage, further advance, right to buy, shared equity, help to buy, product transfers, second charge mortgages.
We can offer mortgages from the whole market (excluding direct lenders’ products).

3. Which service will we provide you with?

Insurance

We will advise and make a recommendation for you after we have assessed your needs for non-investment insurance contracts, as follows: life insurance, critical illness, household, accident sickness and unemployment, income protection, private medical, permanent health, public liability and commercial insurance.

Mortgages

We will advise and make a recommendation for you after we have assessed your needs as applicable on the following: new purchase, first-time buyer, re-mortgage, further advance, right to buy, shared equity, help to buy, product transfers.

4. What will you have to pay us for our services?

No fee for the following: life insurance, critical illness, household, accident sickness and unemployment, private medical, permanent health, public liability and commercial

Insurance

You will receive a quotation which will tell you about any other fees relating to any particular insurance policy.

Mortgages

A fee of £495 payable on completion of your mortgage. We will also be paid commission by the lender.

However, if the mortgage does not complete after an application has been submitted, as a result of the clients’ choices/actions, then the full fee will become immediately payable to us. In addition, if a recommendation is provided and you subsequently choose to go direct to the lender or another broker a fee of £995 will be payable. I am sure you can appreciate it takes time to research your case, reviewing the whole of the market to find the best possible rate for you, something an individual lender will not be able to provide.

If you prefer, a fee only option of 7% of the loan amount, payable on completion of the mortgage – any fees or commissions received will be refunded to you.
You will receive a mortgage illustration when considering a particular mortgage, which will tell you about any other fees relating to the mortgage.

5. Who regulates us?

Turney & Associates Limited, 5-7 Covent Garden, Cambridge CB1 2HS is authorised and regulated by the Financial Conduct Authority. Our FCA Register number is 311607.
Our permitted business is advising on and arranging mortgages and non-investment insurance contracts.
You can check this on the FCA’s Register by visiting the FCA’s website www.fca.gov.uk/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: Turney & Associates Limited, 5-7 Covent Garden, Cambridge CB1 2HS
By phone: 01223 329666
If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

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

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.

Mortgages

Mortgage advising and arranging is covered up to £50,000.00 maximum.
Further information about compensation scheme arrangements is available from the FSCS.

We can visit you

Let us know when is convenient to call round

You can visit us

Come to see us in Cambridge, we have parking

We can call you

Arrange to discuss everything over the phone

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