terms-of-business

Terms of Business

This document outlines Deppy Ltd’s terms of business. We will ask you to sign our Terms of Business to confirm that you have received a copy of both “Key facts about our insurance services” and this document. Should you choose to proceed with our services, in doing so, you accept our Terms of Business and both parties will be bound by the terms laid out below.

Deppy Ltd will provide Mortgage and Insurance.

Serial No. Heading Terms of Business Sector
1
Regulation
We, Deppy Ltd, of 21 West Street, Gravesend, Kent, DA11 0BF is authorised and regulated by Financial Conduct Authority (FCA) for advising and arranging pure protection and general insurance. Our FCA reference number is 927989 and you can check this on the FCA’s register by visiting the FCA’s website NewRegister or by contacting the FCA on 0800 111 6768. We are a mortgage and insurance intermediary
2.1
Our service to you
We will provide you with advice and a personal recommendation after we have assessed your individual circumstances and requirements.
Insurance
& Mortgages
2.2
Products we offer you
We offer products from a range of insurers based on a fair and personal analysis of the market for life insurance, critical illness insurance, income protection, mortgage payment protection insurance and Buildings & Contents insurance. We only offer cover from a single insurer Markel International Insurance Company Limited in respect of Personal Guarantee Insurance.
Insurance
2.3
Products we offer you
We offer a comprehensive range of first charge mortgages from across the market, but not deals that you can only obtain by going direct to a lender. We do not advise on second charge mortgages. If we are unable to identify a suitable first charge mortgage, we can refer you to our selected affiliated partners who specialises in second charge lending. We will provide you with further information if this is the case. Please refer also to our Consents on the last page of this document. We will provide you with an explanation of the main repayment methods (e.g. capital and interest or interest only), but if you select a repayment option that includes an investment product that is regulated by the FCA we will recommend you seek advice from an appropriately authorised Independent Financial Adviser (IFA). Details of an IFA near you can be obtained from Search over 27,000 IFAs, Financial Advisers, Mortgage Brokers, Accountants & Bookkeepers or by calling 0330 303 0025.
Mortgages
3
The capacity in which we are acting/who we are representing.
Sourcing a suitable Policy – We act as your agent
Placing the insurance – We act as your agent
In the event of a claim – We act as your agent
Insurance
4
Disclosure of information- Consumers
It is important that you understand that any information, statements or answers made by you to us, your insurance provider or mortgage lender, are your responsibility. You must take reasonable care not to make misrepresentations when answering questions. If you are careless in answering the questions or deliberately make a misrepresentation, this may render the insurance void from inception (the start of the contract) and enable the insurer to repudiate liability (entitle the insurer not to pay your claims). You are advised to keep copies of documentation sent to or received from us for your own protection. Please do consult us if you are in doubt on any aspect. The requirement for correct information not only applies at commencement and renewal of your policy, but also at any time during the period of insurance.
Insurance & Mortgages
5
Disclosure of information – Commercial Customers
Where the insurance is arranged wholly or mainly for the purposes of your trade, business or profession then you have a duty of “fair presentation of the risk”. This mean that you must:-Disclose to us and the insurers every material circumstance you know or ought to have known, this includes information that can be revealed by a reasonable search of information available to you including information held within your organisation including their senior managers; Provide the insurer with sufficient information to put a prudent insurer on notice that it needs to make further enquiries into those material circumstances. A material circumstance are circumstances which may influence the insurer’s decision to cover a risk and/or the terms that are applied. Examples of material circumstances include change of address, change of financial circumstances, change of directorship (if corporate), and so on. This requirement not only applies at commencement and renewal of the policy but also at any time during the period of insurance.
Insurance
6
Awareness of terms
When a mortgage offer or insurance policy is issued, you are strongly advised to read it carefully. If you are in doubt over any of the terms and conditions, please seek our advice promptly.
Insurance & Mortgage
7.1
Charges and Fees
We will not charge you a fee for the arranging, amending, renewing and cancelling your insurance policy. We will be paid commission by the provider upon inception of the policy. The amount will depend on the provider, type of insurance, and your premiums.
Insurance
7.2
Charges and Fees
A fee of £495 to be paid when you complete on a mortgage arranged by us. We will also be paid commission by the lender. The fee will be reduced by the amount of commission we are paid by the lender. Where the commission from the lender exceeds £495, we will not charge a fee. So, in many cases, no fee will be payable. For highly complex cases a fee of up to 1.00% of the loan will be payable when you complete on a mortgage arranged by us. For example, on a mortgage of £200,000 a fee of £2,000 will be payable. You will typically receive a detailed quote called either a Key Facts Illustration Plus (KFI+) or a European Standardised Information Sheet (ESIS) when considering a particular mortgage. This will tell you about any fees relating to it and will be provided before you proceed.
Mortgages
8
Commission Disclosure – Commercial customers
You are entitled at any time to request information regarding any commission which we may have received as a result of placing your insurance business
Insurance
9
Auto-Renewal
For your own protection, your policy will automatically renew unless you have opted out of the auto-renew facility. You can stop your policy from automatically renewing at any time. You can do this by telephone, post or email. If you cancel this facility your insurance will then expire on the renewal date unless you give us instructions to renew your policy
Insurance
10
Client money – general.
We will not hold client money, and any premiums due to the insurer are your responsibility to pay.
Insurance.
11
Customer protection information
It is our intention to provide you with a high level of customer service at all times. If there are occasions when we do not meet your standards, please contact the Complaints Manager either orally or in writing, who will take details of your concerns. We will acknowledge your complaint promptly in writing and do our best to resolve the problem quickly, keeping you informed of progress and the measures being taken. In the unlikely event that we have not resolved the complaint within 8 weeks, we will write again to explain the reasons and advise when we expect to be able to do so. If you wish to register a complaint, please contact us at:

…in writing. Deppy Ltd, Complaints, 21 West Street, Gravesend, Kent, DA11 0BF.…by phone. 01474 334488…email. complaints@deppy.co.ukIf we cannot satisfy your complaint, you may be entitled to refer it to the Financial Ombudsman Service and we will provide you with information about their service. For more information visit Financial Ombudsman Service: our homepage. A full version of our Complaints Handling procedures is available on the website: Complaints
Insurance & Mortgages
12
Cooling off period
We will give you enough information and help so you can make an informed decision before you make a final commitment to buy your insurance policy. This will be shown on any policy documents issued by a provider (such as fourteen (thirty) days to change your mind and cancel the insurance contract from the date you receive the policy documentation). NB This only applies to consumers.
Insurance
13.1
Are we covered by the Financial Services Compensation Scheme (FSCS)?
Insurance advising and arranging are covered for 100% when the claim arises from death or incapacity of the policyholder due to injury, sickness or infirmity. Protection is at 90% where the claim is for other types of policy, with no upper limit.
Insurance
13.2
Are we covered by the Financial Services Compensation Scheme (FSCS)?
Mortgage advising and arranging are covered up to a maximum of £85,000. Further information about compensation scheme arrangements is available from the FSCS.
Mortgages
14
General Terms
We
We require our clients to give us instructions in writing to avoid possible disputes (if the matter is urgent we may accept oral instructions provided they are confirmed in writing). We will forward the documents to you as soon as practicable after we receive them. Where a number of documents relate to a series of transactions are involved we will normally hold the documents until the series is complete and then forward them to you. We are required to verify your identity in accordance with legislation to prevent financial crime. No application will be submitted until such verification has been obtained. We may use electronic identity verification systems and we may conduct these checks from time to time throughout our relationship, not just at the beginning. We may terminate our authority to act on your behalf at any time without penalty. Notice of termination would be given in writing. We will only vary this agreement if confirmed in writing by a Director of Deppy Ltd.
You

You may terminate this agreement without penalty. Notice of this termination must be given in writing.
Insurance & Mortgages
15
Data Protection
We keep records of all our business transactions indefinitely. You (or your agent) may inspect contract notes, vouchers and entries in books (whether kept manually or electronically). We treat all our clients’ records as confidential (even when you are no longer a client), so we reserve the right to give you copies of your particular records rather than allowing access to files containing records about other clients. As part of our service, we will aim to contact you to review your arrangements before any product we have arranged expires. From time to time we will tell you about new services. You can choose not to receive this information when you meet with us during the arrangement of your mortgage. You can change your instructions at any time by writing to: Compliance Department, Deppy Ltd, 21 West Street, Gravesend, Kent, DA11 0BF. For the purposes of the Data Protection legislation, the Data Controller in relation to any personal data you supply is Deppy Ltd.
Insurance & Mortgages
16
Access to your Personal Data
Under the Data Protection legislation, you have a right to ask for a copy of the information held by us in our records. You also have the right to require us to correct any inaccuracies in your information. Such requests must be made in writing and we reserve the right to ask for proof of identity and address prior to releasing any information.
Insurance & Mortgages
17
Record keeping
We are required to maintain records to evidence the suitability of the recommendations we make. If you decide to proceed with our services, we will store and use your personal data and any other relevant information you provide in accordance with this policy. If you choose not to allow us to store and use your personal information, we will be unable to meet our regulatory obligations and will not be able to provide our services to you. In this instance, you must tell us in writing before proceeding with an application.
Insurance & Mortgages
18
Your Privacy
As a customer of Deppy Ltd, we take your right to privacy very seriously. We will not disclose information about you or your accounts to anyone, other than where we have your consent, or where we are compelled or allowed by law to do so. Most of the information we hold is stored electronically on computer systems. However, some data, for example, the details you handwrite on an application form are also held as manual or paper copies. We are confident that our systems are secure, and appropriate controls are in place to prevent unlawful access to your information. As your mortgage broker, we will discuss your personal circumstances with lenders in order to determine the most appropriate product for your needs. We or the lender may undertake a credit check upon receipt of your mortgage application, or in some cases before an application is submitted, to enable the preparation of an “Agreement in Principle”. We will seek your consent before any personal information is provided to lenders and before a credit check is undertaken. This check may be registered as part of your credit record. The lender may also supply information to a Credit Reference Agency regarding the way your account is managed. Deppy Ltd does not sell or donate the personal information we hold. Information may, in the ordinary course of business, move between Deppy Ltd, associated companies (e.g. lenders and insurers), and involve keeping the estate agent(s) and solicitors you are using updated on the general progress of your application(s). We are also obliged to make our records available to our regulator upon request. Please refer to our Privacy Policy for full details. A copy is available to download via our website at www.deppy.co.uk/privacy-policy
Insurance & Mortgages
19
Third-Party Services
Deppy provides a comprehensive package of services to our clients. This includes services provided by third-party companies, whom we have carefully selected to provide relevant services.
Insurance & Mortgages

Client Signature 1

I/We confirm receipt of this Terms of Business Letter, and that I/we have had explained to me/us, in brief, the Data Protection legislation and how our data will be used. I/we authorise the release of information relating to my/our existing (Insurance/mortgage) arrangements to Deppy Limited.
Sign Below
1
Client Signature:
Fill Details below
2
Client Name:
3
Date:

Client Signature 2

I/We confirm receipt of this Terms of Business Letter, and that I/we have had explained to me/us, in brief, the Data Protection legislation and how our data will be used. I/we authorise the release of information relating to my/our existing (Insurance/mortgage) arrangements to Deppy Limited.
Sign Below
1
Client Signature:
Fill Details below
2
Client Name:
3
Date:

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